Every enterprise faces a series of different challenges every day. From extreme corporate competition, constant innovations in technological assistance, to payment management and a steep invoicing process, managing an enterprise is always a tough task. So if you need help in your current operations, you’ll need to come up with a way to manage your enterprise billing problems.
To thrive in the present business trends, every enterprise should improve its business model, generate better revenues, and enhance their overall return on investment (ROI). Looking at the current business landscape, it makes sense to look for a long-term sustainable solution that can offer significant relief from these recurring challenges. To help you out, we’ve prepared a detailed explanation of how a bespoke custom invoicing system can help you automate your enterprise billing and start reaching your goals.
1. Efficient Client Base Management
Enterprises cater to a large number of consumers. Therefore, effective sales delivery in a stipulated time frame is a prerequisite to achieving healthy cash flow. In the event of a delay in sending of invoices, the entire communication breaks down. Because of this, the overall customer satisfaction rate will be affected, leading to a complete loss in your business income.
By having a customer invoicing system in place, you’ll be able to handle multiple client accounts using a single platform. To facilitate the smooth flow of your CRM, several integrations will prove helpful. These integrations will bridge the gap between your authorities, leading to more productive communication on a single platform. At the same time, you will also get huge savings on costs and time spent. Here are some key features of integrating and automating your enterprise billing system to your business operations:
- Smooth CRM Integrations: Reduce the costs, time and efforts through an invoicing system integrated into your existing CRM system.
- Customized Invoicing Solutions: Invoicing solutions customized to tailor all of your needs. Make your business workflow easier through customer workflow management, permission management, automatic reconciliations, user hierarchy, and more.
- Manage a Global Clientele: Send languages over the world. Customize your invoices according to the language and currency preferences of your clients.
- Enterprise Customer Service: Enjoy better customer service with a comprehensive billing program in place. You won’t have to worry about getting paid and compromising your business’s income. A bespoke enterprise invoicing system will help you with all of your invoicing needs.
2. Effective Management for your Invoicing and ERP
In today’s standards, enterprises should be looking up to newer and more sophisticated cloud-based custom invoicing software to improve overall productivity. Traditional ERP systems can struggle with the number of services being provided, the time to market, and the overall visibility of transactions.
On the other hand, invoicing has become a problem due to the delayed creation process, which can lead to chaotic payment and invoicing management.
Here are some of the most common issues with traditional ERP systems:
- Not flexible in accordance with the needs and requirements of the enterprise.
- There’s a need for a single process for B2B communication cycle.
- There’s a huge maintenance cost of enterprise resource planning applications. In addition, the upgrading of existing systems is also a significant concern.
- The systems are not integrated globally, and they don’t cater to regional requirements.
With a bespoke custom invoicing software in place, you can simplify even the most complicated business processes. You can make your communication easier with an efficient and simplified ERP and invoicing system. In addition, a custom invoicing system also allows a single platform for all of your management needs. From client management to financial reporting, a bespoke enterprise billing software is the ideal solution to help you with your management woes.
Here are some of its features:
- Efficient Management of Client and Vendors: You will have a single invoicing software dashboard to manage both your clients and vendors at the same time. You can also manage and track your work outsourced to third-party vendors.
- Better Productivity: Managing a large enterprise is difficult. But with a software billing system in place, you can improve your team productivity with task and time tracking along with staff permissions.
- Send Invoicing in One Go: You can activate the invoicing process and get all of your invoices approved by the team right away. Create an error-proof invoice approval work with an expert enterprise management software.
- Customized Reports: Calculate your productivity and ROI with time tracking reports and expense reports. Analyze and predict finances with invoice reports, currency reports, payment reports, profit/loss reports, and so much more.
- Customer Service for Enterprise: with an enterprise billing software in place, you won’t have to manually contact your customers and remind them about their upcoming invoice. Now, enterprises customer service can enjoy better communication through a comprehensive invoice that’s generated and sent immediately to the recipient.
3. Automate and Make your Enterprise Process Faster and More Efficient
The traditional way of creating and sending out invoices are subject to several errors, which can prove detrimental to your business’ health. Due to this non-automation approach, your invoices may have incorrect data, longer generation time, double data entry, and delayed sending. All of these factors result in poor cash flow which can affect your company moving forward.
If you automate your enterprise with billing and invoicing, you can say goodbye to all of these problems and hello to a faster and more efficient way to earn money. Your customers will depend on you to provide the right invoice. Otherwise, they will either pay an incorrect amount or file a complaint against you for not providing the correct details. Managing an enterprise will make it impossible to accurately send out accurate invoices with the large amount of clientele that you have. That’s why it makes a lot of sense to automate the entire process. By using automated billing software, you can avoid detrimental mistakes that can cost you a lot of money. At the same time, automated invoicing will also help get you paid on time.
How ReliaBills Can Help Automate your Enterprise Billing?
ReliaBills can automate your enterprise billing for FREE, with only $24.95 cost for upgrading to ReliaBills PLUS to get the features mentioned in this article.
If you’re looking for software to boost your customer service enterprise, as well as send out your invoices, ReliaBills is the best choice available. It’s a fantastic invoicing system that creates accurate, professional invoices for you to use. You can even customize and schedule your invoices to make sure it arrives at the recipient’s inbox on time. That way, you will be paid without any problems. So if you’re looking for a free invoicing platform that offers amazing features, ReliaBills is the one you need.
Choosing a cloud-based billing system is the solution to all of your enterprise billing problems. By choosing automation, you can avoid hiccups on your invoicing processes and prevent a huge loss in your revenue.
Our Recurring Billing Feature Can Help Automate Your Enterprise
While ReliaBills is a fantastic invoicing system, it also does more than send invoices to your customers. For one, ReliaBills is also a recurring billing system capable of automating your entire billing process so that you won’t have to start from scratch during every billing cycle.
With our recurring billing software and its amazing invoicing and recurring billing process, you can automate your invoice creation, create automated variable payments, design invoices specifically for recurring billing, resolve failed payments, provide a safe and secure customer portal, and more!
What’s Recurring Billing, Anyway?
Don’t have an idea what recurring billing is and what it specifically does? We’ll simplify it for you. Recurring billing is the process of processing a pre-defined payment for a service or product. Automating your enterprise billing system will tap into recurring billing while also making life easier for you.
Why Is It Essential for Businesses?
Recurring billing opens up a ton of opportunities for you and your business. Specifically, it provides the following perks:
- Reliable cash flow – churn will always be there to fluctuate the number of customers you have and your potential income. However, you will always have a stable and more consistent cash flow with recurring billing in place.
- Minimize effort – automating your payments through recurring billing will reduce the cost and effort associated with manual invoicing and payment processing. You will only need to set up the original payment plan once. The software will handle the rest of the payment processing for you.
- Improve customer relationship – Recurring billing is convenient for both you and your customers. Since they’ll only need to enter their billing information once, your customers will appreciate the convenience and hassle-free payment process.
- Prevent fraud – recurring billing stores customer information in a safe and secure payment gateway server. It will protect you against fraud with methods like compliance with Payment Card Industry Data Security Standard compliance.
Does Recurring Billing Fit With Your Business?
The recurring revenue model is thriving in 2021 across diverse industries, from dog food to personal grooming. It covers businesses of different sizes and shapes that it’s starting to become a necessity. Are you unsure if your business complements well with recurring billing? If so, then use the lists below as a reference:
Service provider
Providing service in exchange for recurring payment is an excellent indication that your business needs recurring billing. It ensures that you will be paid promptly and provides auto-payment options that will help encourage customers to pay.
Membership-basis
Does your business offer membership-based recurring payments? If so, you’ll find that having a recurring billing system is the best option for you, whether you’re running a fitness gym, selling online learning courses, offering coaching services, and more.
Subscription-basis
Different types of businesses are now taking advantage of the subscription-based model. Once a customer subscribes to your services, you can bill them every month according to their chosen pricing plan. With recurring billing, this process can be faster and easier to execute.
Financing
If you’re running a financing business, it’s important to always bill your clients according to the payment plan that you’ve agreed upon during negotiations. Once you do, it’s important to make sure that you get the payment on that specific date. Otherwise, your income will suffer. With recurring billing, you can send invoices or reminders to your customers about their pending bills to encourage them to pay on time.
Wrapping Up
Recurring billing has a lot to offer if you automate it with your enterprise. If you’re interested in incorporating this billing strategy into your business, make sure you check out ReliaBills today.
