It is high time we all faced the hard facts; the handwriting era of invoicing and billing is coming to an end and everyone should go with the flow. Not because it is inevitably ending but most importantly because that’s actually better for everybody.
We no longer have to keep printed records for everything. On the contrary, we are encouraged to keep online files for our transactions, both professional and personal. All is made possible via cloud-based invoicing and billing software and applications. They have been especially useful in the way we conduct our businesses.
The benefits of cloud invoicing and billing
More specifically, the term “cloud accounting” has gained in popularity over the past few years. It has become easier and cheaper to keep your firm’s finances by using cloud bookkeeping software. So why keep invoicing the old-fashioned way, keep your payments and receipts in chaotic excel files and generate invoices in word processors?
When you’re running your own business there is little time left and endless things to be done. Efficiency can be hard to achieve so you need all the help you can get.
We strongly recommend that you make a fresh start and join the cloud community of Elorus. Here are 10 simple, nonetheless good, reasons for doing so.
We are all aware that things nowadays take place at a faster pace than back in the 1960s when accountants kept thick books and issued handwritten invoices. That resulted in countless calculation errors, many hours of book reconciliation, and even more money spent on paper and ink supplies.
All of these problems are now solved thanks to cloud invoicing solutions and by utilizing their unique features. You get to invoice quickly and error-free, send your invoice to your clients with just a “click” and get paid immediately.
One of the best features of cloud invoicing is that you no longer make mistakes while calculating VAT and currency rates. The cloud application will do that for you instantly! Eliminate typos that leave you exposed to your customers and focus on more important things. One of them is collecting receivables from your customers.
Get paid online & faster
Most online invoicing platforms, such as Elorus, incorporate cloud billing software as well. By following a few easy steps you can connect your PayPal account with the application and accept online payments once you send the invoice to your customer. This way, you get paid faster and consequently increase the cash flow into your business. This is especially useful for freelancers that don’t have the luxury of accounts receivable not being received in a timely manner.
Online payments can help you get paid faster!
Automate your invoicing
By choosing cloud-based technology, you get to enjoy the automation it brings along. There are cases in which specific transactions take place in a scheduled manner, e.g. subscriptions, cleaning services, certain fees, etc. By setting up recurring invoices, in the automated online, invoicing and billing software, you have the application do all the work for you! All that is left to do is send the invoices to your clients. In case this is a recurring payment the cloud invoicing software alerts you that it is time to make a payment by generating the respective invoice. As simple as that!
Benefit from massive cloud storage
Cloud invoicing allows you to store your clients/suppliers' base massively, thus you don’t waste time retyping customer or supplier information again and again.
Also, you get to upload and attach documents that you need to send along with an estimate or an invoice. All records are stored and are automatically backed up online so you don’t have to print them and are available to retreat on demand.
Accessibility is key
One of the major benefits of cloud invoicing brings is complete accessibility. Your data is accessible anytime from your office, home, phone, and tablet. More importantly, you can give access to your employees or partners. You can create a user for your accountant so they can view your documents and obtain useful reports without exchanging paperwork and time-consuming phone calls.
Professional appearance is a must nowadays and this applies to the documents you send out as well. You should not underestimate the impression your invoices leave on your customers. It is a reflection of your corporate identity and you should pay extra attention to it. Cloud invoicing tools provide tasteful invoice and quotation templates you can customize according to your needs without having to design one from scratch. At the same time, your quotation can be turned into an invoice with just a click through the software.
An extra feature you get by using cloud invoicing and billing applications is a wide array of reports that demonstrate the performance of your company. Elorus provides reports on cash flow operations per period, client, and type of transaction. You can export these reports, store them on your computer and edit them any way you wish.
Cloud-based invoice applications usually come with a developer’s API that enables external platforms to connect with them. This is excellent in cases where you need to integrate your company’s software with an invoicing and billing application to automate procedures. The main concept is that through the API you get to adjust the application’s settings to match your needs.
Finally, in most cases, cloud invoicing and billing platforms apply a pay-as-you-go pricing policy. This means that you get to use the full package of features but pay more only if and when your business grows.
The future of bookkeeping
The sooner we embrace the digital way of doing business the better. Our time urges for modernization in bookkeeping procedures that will eventually turn out to be quite beneficial. Artificial intelligence has already started playing a great role in streamlining accounting, invoicing, and billing tasks.
Cloud accounting applications are ideal for keeping your invoicing simple, fast, and most significantly cost-effective.
Remote access to your financial data is a comparative advantage that traditional bookkeeping programs cannot offer. Elorus provides an integrated solution that utilizes all the benefits of a cloud-based application coupled with an extremely user-friendly interface. You can monitor your cash flows, issue your invoices, and get paid online saving valuable time and energy!
Register to our free plan today, enjoy our full package of features, and join us in the 21st century invoicing!