You supplied and delivered a product to the customer, or provided a service they requested. Now is the time to prepare your invoice and receive payment. There are two ways to get paid at this point. One is the traditional physical invoice, the other is mobile invoicing that save you time and space which is crucial to use your precious time more efficiently. Although we respect those who want to move forward in the old-fashioned way, we think that after seeing the speed and efficiency of the digital process, they will look things differently. Let's take a closer look at what mobile invoice is and its benefits.
What is Mobile Invoicing?
As the name implies, mobile invoice is a method that allows you to prepare invoices related to your job, no matter where and when. You can easily receive payment from your customer for the service you provide and you will not deal with details such as physical address and paper. By sending your mobile invoices via email, your customer can enter the card information into the system and pay within a short time. This process is even easier if you use some applications that provide mobile invoicing services.
What Are the Benefits of Mobile Invoice?
We said mobile invoicing saves you the trouble of paper and location. Apart from this, there are many other conveniences provided by this system. Considering that almost all of the world's population uses smartphones, it would not be wise not to take advantage of that technology. Research shows that 80% of small business owners use a portable device to run their daily business.
1. Invoicing Anytime, Anywhere
The mobile invoicing feature allows you to bill your customers and receive payments regardless of time or location. Suppose you are outside your office to deal with another job. Suddenly, you received a notification that reminds you to bill X Company. With mobile invoicing, you can easily bill your customer from your location without having to return to the office. This saves time and allows you to handle multiple tasks. Send invoice to client anytime, anywhere.
2. Send Well-Designed Invoices Only One Tap
Almost all physical invoices have a dull design and the information they contain may seem complicated at first glance. Mobile invoicing applications use templates designed specifically for both the user and the customer. Designed with simplicity so that even a person who has never used a mobile invoicing application in his/her life can understand at first look, mobile invoices provide aesthetic beauty as well as ease of use. It’s really easy to create well designed sales invoices with applications like Pixe.
3. Tracking the Invoices Status
On physical invoices, you should check your bank account regularly or contact the customer to see if the payment has been made. If the customer specifically calls and inform you about the payment, there is no other way to find out if you have received your money. The tracking system of mobile invoicing applications ensures that a notification is sent to you as soon as payment is made. In addition, some applications send reminder notifications to both you and the customer about mobile invoices past the due date. This allows you to easily track invoices and see whether you have received your payment or when you will receive it.
4. Easy Monitoring the Financial Situation
As related to previous headline, with mobile invoices, you can track the payments you did or will receive in detail and check your financial situation. In this way, you can keep track of the money that will come and go and make company accounting without difficulty. You can see the mobile invoices you sent, in a single tab and see your total earnings.
5. It’s Free to Use
Although not very high, printing and preparing physical invoices is costly. Whether you're a small business, you'll need to include the cost of the invoice here when preparing cost accounting at the end of the month. Almost all mobile invoice applications are either free or charge a very small fee. In addition to the ease of time and space, you can save money by reducing your expenses.
6. Different Payment Methods Provided
With mobile invoicing, it is possible to receive payment by your customer's preferred payment method. You can easily pay by credit or debit card, PayPal and similar applications. This diversity enables that your customers can send your payment through the application without any hesitation.
7. Provides Impenetrable Security
Any payment made digitally requires major security measures. If the credit or debit card information is stolen, the problems that occur may upset both parties. Like all prestigious software, mobile invoice apps use high security to ensure that both the user and the customer make a smooth transfer of money.
8. The Invoice You're Looking for Is Just One Tap Away from You
We know saving and storing physical invoices are hard. You must keep a copy of the invoices that you prepared both legally and to make your accounting properly. This results in a stack of invoice files in your office. This starts a process that requires many hours when you need to look for something specific in the stack. In mobile invoicing applications, you can access the information that you are looking for using just a keyword in seconds.
9. With Organization You Can Get More Work
Mobile billing applications not only show you when you did or will receive payments, but also allow you to see your income and expense statement on a regular basis and get new jobs. In these applications, you can see when you need to deliver your job, and you can clearly know when you will be available for the next project requested by the new customer. With the organization that those apps provided, you can easily determine both your delivery and availability date and provide confidence to your customers.
10. Environment Friendly
As you know, thousands of trees are cut every year for paper production. Since the recycling culture is not fully established in the society, our paper consumption is quite high. With mobile invoicing, you can carry out your transactions without damaging the environment by using less or none paper and protect the nature. If you need a physical copy of an invoice, you can easily print it out via those apps.
How to Improve Your Business and Increase Cash flow?
Apart from using mobile billing, there are many ways to grow your business and increase your revenue. Although mobile invoicing applications are a good step to start with, some actions that you will take both digitally and humanly will increase your profits and your trust among your customers.
1. Get More Organized
Whether you're an old-fashioned business using traditional methods or taking full advantage of digital programs, it's always important to be organized in your workplace. With the order and discipline you will provide, you can increase the productivity of both yourself and your employees. Keeping things organized is the most important step in this process.
2. Be More Kind to Your Regular Clients
Of course it's important to get paid for the product or service you provide. But keep in mind that there can be many situations in the world and your customer may have a hard time financially. If this person is a regular customer or does not try to abuse your goodwill, you can provide convenience or postpone payment even if the bill has expired. This humanitarian act does not only increase your reputation in the business world, but also helps you to gain the loyalty and trust of your customer when their financial situation improves.
3. Inform Your Clients That Things About to Change
Changing your invoicing system or overall workflow process is important for performance. However, doing so suddenly can harm both you and your customers. Instead, wait for a while after making a change decision, informing your existing customers and tell them that the system will change. In this way, you and your customers will have time to adapt to this process. Remember, one day changes and sudden decisions may terrify your clients.
4. Choose Your Software Carefully
While it's great to move your business to digital and take advantage of mobile apps, remember that there are malicious people here as well as everywhere. Therefore, do a thorough search when choosing the software to use. If possible, seek advice from other companies that do similar work with you and learn which software or apps they use. Thus, you can learn which applications will suit you best, without taking any risk.
5. Automation is The Key
Of course, after you start using certain applications, your business will accelerate and cash flow will increase. However, you cannot expect this to happen in a minute. For everything to be automated, you should create a proper database and use this information repository, both in your billing and other areas. You'll spend some time while creating this database, but it's worth the effort to see that things are done with a simple tap after everything is set.