We’ve said it before, and we’ll say it again - small business owners, we salute you. Having the passion, drive and fortitude to set up your own business is no mean feat, and you know all too well it involves the constant spinning of plates, and invoicing is likely one of them.
So, if you’re contemplating taking the leap into the world of invoices, or even if you’ve already got invoicing in place and are looking for ways to improve your existing set-up, in this article, we’ll go through 10 reasons why invoicing can be so beneficial to your small business - it’s never been simpler and is sure to make your life as a business owner that bit easier, bonus!
Excited? We thought so, let’s dive in…
And who doesn’t want that? If you offer invoices, you allow your customer to pay after you’ve provided a service, completed a job, etc. and that makes their life easier. So by providing an invoice you give your customer a convenient way to pay.
Not only that, but you help them keep on top of their finances while you’re at it. Invoices contain information on what was purchased, when, for what price, any late fees, and so on, and this is super useful information for consumers both now and in the future when it comes to keeping track of their cash.
Believe it or not, issuing invoices can help build a level of trust between you and your customers because it shows that your business, albeit small, is a well-oiled machine with professional systems and process - like invoices.
A properly put together, well-designed invoice will help you stand out from the crowd and this is something small businesses often forget - it’ll give you a competitive advantage.
Remember, every time you have any communication with your customers, it forms part of their customer experience with your business, so a top-notch invoice is an opportunity to make this the best it can possibly be.
Top tip: check out our guide on 5 ways to improve the customer experience to keep your business on its A-game.
Don’t panic, you’re not legally obliged to offer invoices, but they could help if you ever find yourself in a sticky situation.
Touchwood this never happens, but should you be in the position where a customer doesn’t pay you, despite multiple attempts on your end to chase, your initial invoice will act as legal proof an agreed service was carried out, and it can therefore be put to use when taking further action.
We already mentioned the customer experience, and branding can play a big part in making this the best it can be.
You might not immediately think of invoices as a form of marketing or branding, but play your cards right and they can be just that. The key to nailing it is brand fluidity, so think about:
Once you’ve got all these things nailed down, make sure they flow throughout any touchpoints with your customers, including on invoices, your website, posters, etc.
For a business owner, there’s nothing worse than chasing money you’re owed and invoices can help you avoid this unpleasant scenario because contained within them is the:
With all this information in one place, there’s no excuse for your customer not to pay - if they’ve got any questions they’ve got all the details they need to get in touch. Not only that, but the breakdown of potential fees for overdue payments is going to be a great incentive for your customers to pay on time.
Plus, if you opt for an online invoicing system you can chase outstanding payments at the push of a button, saving you the tedious and frankly unpleasant task of chasing manually.
We just alluded to online invoices and how they make the whole process more streamlined, but their benefits reach much further than that - they make invoicing a piece of cake.
If you’ve been put off by the idea of invoices because you think it’ll be time-consuming, involve extra paperwork and you frankly don’t have enough hours in the day, we’re pleased to tell you times have changed.
With in-app invoicing solutions, like the takepayments beepaid app, you can quite literally send an invoice to your customers in seconds.
On the subject of paperwork, do you ever feel like you’re drowning in it? Shudder at the mental image of your desk? Then online invoicing could be the answer to your prayers.
By making the switch to an online invoicing service, you’ll have records of all your payments, past and pending, available at the touch of a button, so you can kiss goodbye to the frantic rummaging for the info you’re after, or hours spent filing at the end of a busy week.
And money is every small business owners ultimate end goal, right? If you adopt an efficient invoicing process such as an online system, you can send invoices in a matter of seconds freeing up extra time for the heaps of other important jobs on your to-do list.
It’s not just sending invoices either, with solutions like our beepaid app you’ll get notified every time you get paid, saving you time dealing with incoming payments, and your money will be in your account the next banking day.
Another benefit of online invoices is you don’t need to be shackled to a desk to process them, so long as you’ve got access to an internet-enabled device you’ll have access to all the details you need in the palm of your hand.
So, let’s imagine you’re out and about running vital business errands, and a customer gets in touch with a query about their invoice, you can deal with it there and then keeping them happy and giving you one less thing to worry about.
Online invoices might work wonders for the Feng Shui of your office, but you’ll also be doing your bit for the environment, it’s a win-win.
With systems like our beepaid app everything you need is contained within the app, so there’s no need for piles of paperwork which reduces your carbon footprint and benefits everyone.
You might have noticed already, but we’re super proud of our brand spanking new beepaid app here at takepayments, because we know it’ll make our customers’ lives easier, and that’s our bread and butter.
It makes getting paid easier than ever, and all you need to get the ball rolling is your phone. Here’s how it works:
The link you send from your app is super safe and secure, and there’s zero cap on the transaction amount. Plus, you’ll get a ‘buzz’ (see what we did there?) to let you know you’ve been paid. So, you can get on with the day-to-day running of your business and let beepaid do the rest.
Plus, you can see, in real time, where your requested payments are up to, making doing your admin easier.
Ready to start using invoices? Here at takepayments, we don't charge a joining fee, you’ll have access to our specialist joining team, and our friendly experts will hold your hand through the whole process. Get in touch today to start reaping the benefits of beepaid.