Today’s world is becoming highly digital, and businesses have kept up well in this transition. A concrete example of this is businesses embracing sending paper invoices online to streamline workflow better. This way, sending invoices becomes a lot quicker and smoother than before and saves you the hassle of lots of paperwork.
But if you still doubt whether sending paper invoices online is any good for your business, look no further. Below in this guide is a list of benefits why your business should embrace sending paper invoices online. Let’s get started.
- Saves Time And Boosts Productivity
Time is a scarce resource, and you as a business owner must ensure to make every use of it to boost your company’s efficiency and productivity. One way you can realize this dream is to send physical invoice online, thereby saving yourself or your staff the hassle of commuting and manually delivering the invoice to your client. This time saved could then be redirected to other essential office duties, hence helping boost your business productivity.
The traditional way of sending invoices involved a lot of paperwork, besides the invoice paper, as you also required envelopes and stamps. All this additional paperwork costs your business a substantial sum of money.
Fortunately, you can sidestep all these hassles by choosing instead to send paper invoices online. When doing this, you no longer need to prepare manually and process documents as this will take a lot of time. Instead, paperless invoicing allows you to use PDFs and templates doing away with all the costs associated with manual paperwork.
- It’s Easier For Your Clients
There’s a high chance you aren’t the only person sending your client invoices. Because of this, they can easily be overwhelmed by the stack of invoices that they need to check. And it won’t matter how essential the particular invoice matters to your client or business. After all, your client will see the invoice like another paper in their vast stack of paperwork.
If you want to save your client the stress and make it easier to check your invoices quickly, sending paper invoices online is better. It is because less paperwork means they won’t have any demoralizing paperwork. Therefore, you’ll have made their work easier and significantly increased the likelihood of receiving your payment faster.
- 100% Secure
All internet communications as SSL encrypted, meaning the paper invoices, you send online are 100% secured from falling into the wrong hands. After all, you don’t want sensitive information such as your invoices being readily visible to anyone. This security isn’t guaranteed when sending your paper invoices through a postal carrier.
- Tracking Invoices Becomes A Lot Simpler
A common concern you must have experienced when manually sending your clients invoices is wondering whether they’ve received your invoice. You don’t need to worry about such an issue when sending paper invoices online. This guarantee is enjoyed because you can use an invoicing program to know whether you sent the invoice and if the client has seen it and made the payment.
- Simplifying Archiving
The law requires companies to store invoices for a particular duration for tax audits by tax agencies. This period differs from one country to another, but it typically ranges between 5 to 10 years. Therefore, you must store the paper invoices for at least this entire duration, which isn’t ideal because they’ll gradually lose shape.
The loss of your paper invoices, either water damage or fire, and the loss of these invoices can have severe repercussions on your business. This is because you’ll have to pay expensive fines from the tax authorities. But by sending your paper invoice online, you avoid such issues because you can locate an invoice you’ve stored online without a hassle. Therefore, you can retrieve whatever information is required with ease.
- Receive Payment Faster
The speed at which you get paid by your client depends on how quickly you deliver the invoice to them. And because you desire to receive payments as soon as possible to ensure proper cash flow, you need to embrace sending paper invoices online. This way, your client can, within minutes, get the invoice and consequently initiate payment for goods delivered or serviced offered.
You wouldn’t be guaranteed this efficiency by sending your paper invoice through a postal service. You risk yourself and your business of the invoice disappearing in the mail and taking you a lot longer to get paid.
- Easily Access Information Anytime And Anywhere
Quickly accessing a particular invoice isn’t something you’d enjoy when sending physical paper invoices. But when sending paper invoices online, you can easily and quickly access the digitized format of your paper invoice. You can do this from anywhere using a digital management platform that allows you to access documents without physically searching for storage space.
All you require to access your invoice is a stable internet connection, and you’ll be able to access your invoice regardless of your location. You can even do this using your smartphone. This flexibility and ease of accessing your invoices help you manage your business finances better.
- It Appears More Professional
You want to look professional and modern to your clients, and one of the best ways to do this is by sending paper invoices online. This is because this approach helps prevent payment barriers and delays, which might affect cash flow and cause business stagnation. In addition, it helps minimize the chances of errors and inconsistencies, which might negatively affect your company’s image to your clients.
With this in mind, you should embrace sending paper invoices online to boost your client’s confidence in your business. As a result, they’ll continue buying your products or services, knowing they’re of exceptional quality.
In this day and age, many companies still stubbornly prefer manually sending their clients invoices despite this process being time-consuming and slow. But to make your company’s operations a lot more efficient, it’s best to take advantage of technology. This way, you can start sending your paper invoices online. If you wanted further convincing on whether this is the best move for your business, this blog post has enlightened you on the numerous benefits this approach would offer you.