Tips for Choosing the Best Billing and Invoice Software
Billing and invoicing aren’t the most exciting tasks in a business but they are crucial for its success. If you streamline your invoice and billing processes, then your business can receive payments on time and keep track of payments. Oftentimes, billing and invoicing can be quite stressful because of the time it takes to bill and generate invoices. This is particularly true for small business owners who have a lot on their plate. Therefore, it is imperative that you choose only the best billing software and invoicing software for your business.
But how do you find one that is a perfect fit for your business? Here are some tips that can help you find the best software for billing and invoicing.
Specify your requirements
You want to be clear about what you want before you start to look for billing and invoicing software. You can do this by making a list of features that you are looking for in your ideal billing and invoicing software. This is particularly useful if you want to migrate from the software you are currently using. Even if you have never used such software before, you should think of the features you need. You can do this by thinking of how you intend to use the software solution. This will enable you to think of what features are necessary according to your business requirements.
Think of your budget
If you want the best invoicing software in the world, then you should have a budget for it. That said, there is no point in getting the most sophisticated solution if you won’t be using all the features that are embedded in the solution. However, business owners should allocate how much they are willing to spend on billing software. You should look for the costs that you need to pay upfront, updates cost, and any other costs related to the software. A good billing and invoicing software solution provides quick ROI but it may still require you to pay a lot upfront. You should choose a solution that is transparent about the fees from the start.
Ease of use
You want your billing and invoicing software solution to be easy to use. It shouldn’t require extensive training for use because that is time-consuming. You should opt for software that can enable you to create professional invoices in a matter of seconds. The point of having dedicated software for billing and invoicing is to make it easier for you to create bills and invoices. If that is difficult, then you should look for another solution. You should try it with the person who is responsible for billing and invoicing to see how easy the software is to use and then make a decision.
How does the software ensure the security of the data? Security is one of the features you must look for in an invoicing and billing solution. You don’t want your data to be unsafe when you are using the software solution. This is particularly true if you pick a package that constitutes accounting software along with billing and invoicing software. As you will be dealing with a lot of sensitive details, you want all the data to be absolutely safe when you use the software. Software packages such as TallyPrime ensure the safety of your data by securing them automatically.
TallyPrime provides security features such as user access
You must know to what level you can customize the invoices according to your choice. For example, if you are a company that provides services, then you should be able to create invoices that reflect that. Similarly, if you sell products then you should be able to create bills and invoices for that. The billing and invoicing software should give you the freedom to choose the type of invoice that you want to create. This flexibility enables you to create customized invoices and bills as and when you need to for your business. This expedites the process of billing and invoicing.
You want to think of the type of integration you are looking for in the best billing software. Do you want the best invoicing software that works as a standalone system? Or do you want the software to have the possibility of integrations? You can get invoicing and billing software by itself if you are only looking for billing and invoicing needs. However, if you are also looking for accounting software then it makes more sense to get a package of accounting software that includes invoicing and billing so that you can carry out all finance-related tasks using one software solution. If you want to add other integrations then the software should give you the freedom to do so.
What type of business are you? Are you a startup or a small business? Growing businesses need a software solution that grows with their needs. Hence, when choosing your ideal invoicing and billing software, you want to ensure the software is scalable and will work well even when you have to generate many invoices and bills every single day. The software package should also allow you to manage different price lists for your products if that is your requirement. For example, if you have different price lists for customers and wholesalers then the software should support that.
For new users, the software must provide customer support. Even though good invoicing and billing software shouldn’t create problems, issues can still crop up. In such a case, you should be able to contact customer support so they can rectify the issue or explain whatever it is that you are unable to understand. A strong customer support team is important especially for new business owners who are learning how to use the invoicing and billing software. You can look at reviews and testimonials to see how helpful the software staff was at addressing issues and providing resolutions.
Customer support is vital
The best invoicing software should enable you to automate your tasks so that you don’t have to do those repetitive tasks and waste your time. You should be able to add your logo to the invoices and save changes so you don’t have to do it again and again. The software solution should enable you to create invoices that retain data that you entered in the past so that you don’t have to type all that in again. For example, if you want to generate e-way bills then you should be able to quickly and easily generate bills without having to enter all the details every time that you wish to generate an e-way bill.
You cannot look at a single billing and invoicing software package then decide it is the best. You should compare different software tools that are available and what people are saying about them. Look at the features of those software packages, their costs, and what unique features those software solutions provide. When you do so, you will be able to see which software solution provides the best value for money. Don’t forget to factor in customer support and scalability in your comparison because these are important when you need to use the software in the long run.
Try free trial
Before choosing the invoicing and billing solution, you should always give the software a try. Most invoicing and billing software tools should give you a free trial before purchase. When you try the trial version, make sure there are no commitments that you need to make. The software trial enables you to check the software first hand to see how easy it is to use and whether it is the best fit for your business requirements. You also get to see the feature set up close which can make the decision process easier.
Billing and invoicing software can take the complication out of the routine task of generating bills and invoices. Tally Prime is one of the best invoice software and billing solution for all businesses. Tally Prime automatically manages your bills payable and receivable when you save your invoices. It can generate tax compliant invoices, provides multiple billing formats, and allows you to set multiple price levels. You can greatly reduce repetitive data entry when you use TallyPrime for your billing and invoicing needs. TallyPrime supports multiple currencies and provides you with high flexibility in managing your purchases and sales. Try TallyPrime today to get your invoicing and billing in order.