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How to Choose the Right Small Business Invoice Solution

Invoicing is an essential task for small businesses, but it can end up taking a lion share of your employees’ time. In 2020, 39% of small business owners reported that they spent at least five hours per week dealing with payments, even after purchasing new technology that was meant to add efficiency. It’s possible to save time on invoicing and get properly paid for the services you provide, but it all depends on choosing the right solution for your business. 

Here’s everything you need to know about choosing the right invoicing solution:

 

What Role do Invoices Play?

An invoice is a business document that lists products sold or services provided to a client along with a breakdown of costs and due dates for payments. This is different from a bill, which implies that payment is due immediately.

Invoices ensure that businesses get paid for the work they do. It creates a legally enforceable agreement between your business and your clients. The documents also help companies organize, record, and keep track of their sales.

 

6 Factors to Consider When Choosing an Invoice Solution

There are a lot of small business invoice solutions out there, with a host of different features and benefits. The choices might seem overwhelming, but deciding on the right platform doesn’t have to be. Here are the things you should think about when choosing the best option for your business:

1. Ease of Use
Before committing to an invoicing solution, make sure the features you need operate logically and in a way that’s easy to understand, both on your end and for your clients. For companies with lower IT bandwidth, finding a solution that doesn’t require the help of an engineer is crucial. 

Overall, it’s important that things run as smoothly for your customers as they do for you and your staff. Most digital solutions offer a free trial, so use this period to test the solution and make sure it’s easy for everyone to use.

2. Scalability
Consider how you expect your business to grow, and how that will affect your invoicing needs. Many subscription-based invoicing solutions set their pricing based on the number of clients you work with, so think ahead: choose an automated solution that can scale in the coming years as your business grows. This avoids having to add higher-priced features to your solution later on.

3. Integrations
Look at how the invoicing solution works with the technology your business already uses, like those for time tracking or accounting—many applications are now designed to “play well” with popular CRMs and connect with systems using integrations like Zapier. It might be important to weigh the cost of adopting a new, more integrated solution against adding another layer to the process that your team and your clients are already familiar with.

4. Budget
Before getting started, it’s important to have a good understanding of the features you need, as well as the number of staff and customers you have. Invoice solutions often have a mix of free and paid features, and different price points depending on the size of your business, so you need to consider these factors to determine what a particular solution will actually cost you. Know what you want, and what you can spend, before you start shopping.

5. Industry
Different industries and departments have different billing needs. Consider your industry’s specific requirements—like insurance coding for healthcare providers, for example—and choose an invoicing solution that fulfills those requirements. Plenty of digital solutions offer specialized options as part of the package, such as customizable workflows with a variety of scalable templates—an ideal feature for evolving businesses. It pays – quite literally—to be familiar with your exact financial resources for both the present and the future.

6. Features
Take the time to compare the features that different invoicing solutions offer, and consider which of these are the most important for your business. Do you need your logo on your invoices? Would you benefit from automatic follow-ups to clients about past due invoices? Can you make better use of a platform that’s cloud-based, so you can access it from anywhere? These are just a few of the things you have to consider before you get started. It helps to have a “technology wish-list” of your own to check against a product’s rundown of features.

 

8 Ways OnTask Helps You and Your Customers with Invoices

OnTask’s automated invoicing solution is secure and convenient, making billing and payments easy for both you and your customers. We’ve got 30 years of experience with integrating software solutions to back it up! Here’s how we can help you keep your business moving in the right direction:

1. Instant and Secure Delivery
OnTask uses eSignatures, so you don’t need to wait for paper documents to be sent back and forth. Our system is HIPAA, SOC 2, CCPA, and FERPA compliant for data security, and allows you to choose from email, SMS text message, embedded URLs, and QR codes to send documents to your clients to be signed.

2. Saved Time
We use this ourselves and we know you’ll love it: save time by sending invoices in batches. OnTask offers reusable invoice templates, so you don’t need to create documents from scratch each time, for each client. You won’t need to wait by the mailbox while clients receive, process, and return paper invoices. Annoying emails and follow-ups become rarer, as the system has built-in, customizable reminders throughout the invoicing process.

3. Decrease Costs
Digital invoicing saves the cost of postage, envelopes, printing, copying, and other expenses involved with sending traditional paper invoices, but still allows you to retain copies of invoices for your records. You can boost productivity,  minimizing wasted time dealing with follow-ups and manual tasks. Instead, you can focus on growing your business and implementing all those incredible ideas you’ve got brewing.

4. Saving Storage Space
Store all of your invoices digitally so you don’t need to worry about keeping a physical paper trail. Papers can turn into a mess easily, and require a significant amount of filing space in your office to keep things organized and accessible. OnTask keeps your past and pending invoices just a click away. We also integrate with most CRMs, as well as Salesforce and Google Drive, giving you the flexibility to store invoices in whatever way works best for your team.

5. Multiple Payment Methods
With OnTask, you can easily offer your customers multiple options for payment, including online payments. Businesses small and large are transitioning to online payments due to their efficiency, security, and convenience. OnTask allows you to accommodate clients who prefer the convenience of paying digitally in person or from home, as well as those using checks and cash, making the process easy for everyone involved.

6. Paying in Installments
You can use OnTask to allow your clients the option to pay all at once, or in installments. This can be useful if installment plans are part of your pricing structure, and can help you get paid if you have a client that’s having trouble catching up on bills.

7. Automatic Payment Reminders
Your clients will appreciate the ability to make online payments, and keep track of their own business finances more easily. OnTask’s reliable automatic reminders go directly to them, which is also convenient for your business. Payment due date reminders make it easier for clients to pay their bills on time without you needing to make worrisome phone calls.

8. No-Code Solution
We’re always looking for new ways to empower business owners. With OnTask you won’t need engineering or technical expertise to change existing workflows or create new ones, and you won’t need an IT specialist on the phone helping you troubleshoot a confusing new system. Our solution is automated, easy to use, and ready to go.

 

Invoice with OnTask

Discover the best automated invoicing solution with OnTask. Our seamless, paperless solution makes it easier than ever to create, manage, and send invoices. It also makes it easier to receive, review, and pay them —a win-win situation for both you and your clients.

Digital invoicing is secure, fast, and easy to organize. OnTask is raising the bar with our efficient all-in-one automated invoicing solution.

Schedule a free demo with the OnTask team today, so we can customize a uniquely flexible digital solution that addresses your needs.