Why are mobile invoicing apps so popular now? What makes companies switch to mobile invoicing? Which mobile invoicing apps are the best? Read on to find out.
Times change. What once worked perfectly no longer suffices in today’s rapidly evolving digital age. Even if time and technological advances have not yet convinced a company to upgrade its processes, in many cases, the unwillingness to modernize can erode competitive advantage.
Invoicing apps represent one such digital age development that helps business administrators streamline processes and create efficiencies. This enables staff to concentrate more on core functions, especially in a small to medium-sized business where time is one of the most critical resources.
Read on to find out about the features of mobile invoicing apps, top reasons for their use and the review of best invoicing apps for small businesses.
What a Mobile Invoicing App Does
Mobile invoicing represents one of the simplest and most efficient ways for a business to get payment from its customers and/or clients. The business owner or accounts receivable staff use a mobile app to send out invoices. When the client or customer receives the invoice, they click ‘pay’ and settle the bill online using the payment solution.
Why Businesses Should Use the Best Invoicing Apps
Mobile invoicing apps provide a number of significant benefits to those who use them. Since so many small and medium-sized business owners already use mobile apps for some aspect of their business, they will be familiar with the technology.
Businesses report that mobile apps provide several significant advantages that make processing invoices easier and faster with much less invested staff time. These include, but are not limited to:
- Save time over traditional processing. Owners or staff can create invoices anywhere, 24 hours a day, seven days per week, and even during holidays. Apps can store an invoice and automatically send it later if the phone is out of a service area. This saves time over catching up on invoicing only once per week or month
- Clients will also appreciate the added convenience of making payments anytime, anyplace, and without having to mail a check
- Added convenience for both company staff and clients mean that fewer obstacles and distractions lay in the way of getting paid more quickly
- Options include professional invoicing templates and programs to allow users to craft their own invoices. Mobile invoicing apps also provide management services above and beyond templates found on popular word processing and spreadsheet programs
- Using a mobile app connected to company email also simplifies reminders. They can be set as often or sparingly as needed.
- Artificial intelligence functions embedded in mobile invoicing apps help staff to keep track of invoicing more efficiently. The app will automatically sort paid and unpaid invoices, among many other helpful features
- The app automatically files and categorizes information, then allows for easy access with a simple search. No more rummaging through file cabinets or waiting to return to the office desktop for vital invoicing information.
- When remote customers and clients use the app, they no longer have to share credit or debit card information with any staff. They will feel much more secure working with a mobile device since most will likely have a higher comfort level with online shopping
- Using a mobile app also helps to ensure that your online payments comply with PCI guidelines governing personal financial data information
- The most popular mobile invoicing apps also include features that help staff invoice the company for personal expenses on the road. They should include functions to capture receipts and other information while automatically categorizing information for user convenience
- Can automatically calculate sales or VAT from percentages entered into the fields
- Another feature of the more sophisticated apps lies in the ability of it to generate professional charts and graphs of company revenue and profit performance
- Finally, many of the top mobile invoicing apps also include a free trial
These represent only a relative handful of ways that mobile invoicing apps can improve efficiency and productivity in accounts receivable and a number of other areas.