Why You Must Ditch Paper Invoices? The 12 Important Reasons!
Have you ever thought about how much paper you waste as an individual? Be it your office or business, on an average billion tons of paper is wasted every year across the world.
Paper is a scarce resource and to make its optimum utilization, businesses are now taking accountability by adopting paperless procedures. And one way that can encourage business involvement in this task is paperless invoicing!
If as a business or firm, you are still practicing paper invoicing then here know the reasons why you must discontinue it at once and shift to paperless invoicing.
- Create and Send Invoices Fast
The process of creating paperless invoicing is smooth and fast. You never have to make searches or enter contact details, your company’s logo, and other business details. It is because you have to feed everything only for once and then the information is kept stored in the data.
You have to make changes for once and save them, which eliminates repeating the same multiple steps again and again. As a result, it enables easy and fast creation as well as sending of the invoices.
- Reduce Shipping and Office Expenses
Mailing paper-based bills every month involves high cost of office supplies. In addition to paper, it even involves the cost of envelopes, stamps, ink, and paper.
An email invoice involves no such cost. Hence, they are comparatively cheaper than paper-based bills and invoices. So, stop using them in order to reduce shipping and office expenses.
- Receive Timely Payments
When invoices are sent in a paper format, you have to rest back and wait for your client or the person on the other end to make payments. It may take several days for the client to receive your invoice and as a result, the payment is delayed. Additionally, there can be instances when your client may not receive the invoice or may say so, which can result in more confusion. This way, the payment process takes more time.
With electronic invoices, you can easily submit your invoice to customers within minutes. The best part is that you can set automated payment reminders for an electronic invoice so that invoices are sent at regular intervals. This way, your payments are paid faster and let you cover the overhead expenses as well as business expenditures.
- Get Easy Access to Financial Reports
By using an invoicing platform for the billing, it is easier for you to keep track of all your finances. Within the dashboard, you can even view how much you have earned in the past. The stored information lets you compare your monthly incomes and let you know how your business is doing.
The invoicing platforms also enable you to see the invoices that are paid and that are pending. Everything is easily accessible and available at your fingertips through the way of an interconnected device.
- Send Invoices At Any time and from Anywhere
Invoicing platforms lets you create and send invoices from your mobile devices or desktop. No matter where you are in the world, you can easily handle billing your clients with ease. All you require is a device with a secured internet connection.
Moreover, if you own a team, you can see and track the invoices you send and create. It will also let you combat various hassles of your business.
- Integrate Numerous Payment Forms
Paper-based billing offers you limited payment forms. You either have to opt for a money order or request a check. Alternatively, you have to call the client in order to collect their details for processing the payment. This entire process is inconvenient and can sometimes result in holding off the invoices.
Online invoicing platforms offer electronic bills that make the process simple. They reduce the interaction required between your client and business to pay an invoice. You can send an invoice in an email and with a payment link for the same.
PayPal, WePay, Mollie, and Stripe are some of the finest payment options that you can integrate into your electronic invoice.
- Keep a Track of Your Employee Expenses
If you are an industry that needs your employees or co-workers to travel a lot, then it is essential to keep a close track of expenses made by them. It is because such details are needed to calculate and deduct them off the tax returns. Also, it lets you know how much you are spending and how you can reduce the costs.
With a reliable invoicing platform, you can easily track the expenses, time, and mileage of your employee. Whenever there is a need, you can ask your employees to cut the expenses by staying at budget hotels or using budgeted modes of transport, and more.
- Give a Professional Look to Your Small Business
If you are starting a new business then you can make a lasting impression on your customers with a professional process and appearance. For small businesses or start-ups, it is quite difficult to collect payments, which are needed for sustainable growth.
With the way of electronic invoicing, you can help your clients easily know about your e-billing process. Moreover, you can include a logo in the invoice that will help to build a professional image of your company. This might even help you to retain customers.
- Streamline Your Payment Process
Not only small companies, but even big companies can get benefitted with the electronic invoicing method. Most of the times, big companies practice complicated payment process. It needs customers to call or pay the bills.
An e-invoicing process let such corporations build a more streamlined and smooth payment process with their clients. They just have to send a professional invoice through their laptop, tablet, or smartphone and receive payments without waiting for too long.
- Conveniently Manage Your Line of Businesses
If you own more than one line of business then it must be quite difficult to handle them all efficiently. The trickiest part is to handle the finances.
However, e-billing platform lets you store the financial reports right in the dashboard. You can open numerous accounts, solely dedicated to each business. This way, you can manage the financial aspects of your business easily without resulting in any confusion.
- Go Green
Eliminating paper-based bills or carbon papers is a great way to save the environment. With electronic bills, you can completely eliminate paper waste resulting from envelopes and invoices. You can take a step further to help the environment by doing business with vendors who too use e-bills or e-receipts.
This simple step can help you keep your environment clean!
- Boost Security
Attacks and thefts are increasing and anyone can steal your important details from a paper-based bill. This makes it difficult to maintain your paper bills security. In a worse scenario, it can result in loss or stolen of your money orders or checks.
Such troubles can be overcome easily with e-invoices. Online bills can safeguard the invoicing process from start to end. You can send a bill securely through email and get payments processed in your account.
If you want to avail all these benefits, you must find a reliable electronic billing platform right now. As you start your search, make sure you consider a platform that incorporates numerous rich features, invoice templates, payment reminders, and numerous online payment options.
Give bills99.com a trial as it is one of the finest online invoicing platform hosting numerous rich features and great functionality.