Companies use invoice and billing software to create and send invoices to customers in order to request payment for the products and services that they deliver. By using this type of software, companies can reduce the time and effort required to manage invoices and improve the accuracy of their billing processes.
This type of software is typically used by accounting professionals, but can also be used by salespeople or project managers to provide customers with estimates or pro forma invoices. Billing software helps companies manage invoicing for different types of products or services, such as project billing for professional services and recurring billing for utilities.
Billing software integrates with accounting software and ERP or CRM solutions where information about customers and the products or services they acquired is stored. The final stage of the billing process (when the payments are received) is usually performed using an accounting software or module of a larger solution like ERP.
To qualify for inclusion in the Billing software category, a product must:
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QuickBooks helps you organize your business finances all in one place so you can complete your frequent tasks in fewer steps. Easily get set up, learn and use. No accounting knowledge is necessary and you can quickly import your data from a spreadsheet. Easily create invoices and manage expenses. And, QuickBooks ensures you’ll have reliable records for tax time. Have questions? Step-by-step tutorials show you how to create invoices, record expenses and more. Includes a 60 day money-back guarantee.
NetSuite is the world’s most deployed cloud ERP solution, used by more than 40,000 organizations across 160+ countries. NetSuite ERP offers a modern, scalable solution to run all your key back-office operations and financial business processes in the cloud. From comprehensive financial management capabilities, including sophisticated revenue management and billing solutions, to inventory, supply chain and warehouse management solutions, NetSuite empowers businesses of all sizes, across all industries, in every part of the world to unleash innovation and growth. Built-in business intelligence with real-time reporting and analytics equips your organization with a single version of the truth and ignites better, faster decision making. NetSuite’s financial management solution is used by thousands of organizations across various industries to manage their accounting needs. This software accelerates your financial close, provides strong expense management, offers streamlined and auditable revenue management and ensures complete real-time visibility into the financial performance of the business.
FreshBooks is an online invoicing and time tracking service that saves you time and makes you look professional - Fortune 500 professional. We believe financial record keeping should be easy, fast, (and perhaps even fun), but still detailed enough to satisfy your accountant. FreshBooks is easy to use and you can try it for free.
BigTime is the engine behind the greatest consulting firms on the planet. We help architects, engineers, IT, scientific and management consultants budget, track and bill their most important asset: time. Consulting firms need more than just a timesheet. They need a system that unifies budgeting, project planning/execution, team communication, task management, resource management, invoicing and project financials. BigTime gives your entire team the tools they need to deliver billable work on time and on budget, giving our customers an average improvement of 25% in gross margins and a substantial increase in expansion and referral revenue. Contact our sales team to learn how.
Zoho Invoice makes it easy to invoice clients, offering an up-to-date snapshot of a business's performance. Easy-to-use templates can be customized to reflect a business's brand. Payments can be made online, with automated reminders making it easy for clients to pay for items. With support for multiple currencies and languages, Zoho Invoice makes it easy for business to work with clients around the globe. With reporting, businesses have access to an always-updated snapshot of their finances. Templates Zoho Invoice provides templates to make invoicing easy. Templates allow for easy customization, including changing the background, removing columns, and adding logos.Templates can be chosen both in the desktop and mobile versions of Zoho Invoice. Once an invoice style is chosen, the user can begin inputting information. Estimates Using Zoho Invoice, freelancers and small business owners can create professional-looking estimates to help win the job. Once work has been completed, an estimate can be easily converted to an invoice. This quick step saves time by removing the need for creating it again. Payments Zoho Invoice is integrated with some of the most popular gateways such as PayPal, Authorize.net, PayPal Payflow Pro, Stripe, 2Checkout, Braintree, PayPal Payments Pro, Forte, WorldPay. All you have to do is setup your preferred payment gateway to start accepting card payments from your customers. Reminders You can send a friendly and personalized nudge to your customers with the automated payment reminders and get paid on time. You can even select the frequency of the payment reminders and include yourself in the cc. Client Portal Through the portal, clients can view, download, forward, or make online payments for outstanding invoices. These payments can be made from within the portal. Estimates can also be approved and rejected within the portal. At any point, a client can also access the transaction statement. Through the comment section, clients can discuss a specific invoice or estimate. This prevents long email threads and keeps everything in one place.
Has your business lost control of accounts receivable? Late paying customers killing your cash flow? Then you need Invoiced, a modern billing system that gives you billing super powers. Invoiced automates the most tedious billing tasks, like sending out invoices on time, following up with late paying customers, and reconciling incoming invoice payments. We also help businesses tackle more complex billing processes, like recurring billing and payment plans.
ZipBooks is accounting software for contractors and small businesses. We are the only free accounting software that has built-in credit card auto-billing. We also make online invoicing and time tracking easier than ever. Our app is built on modern technology which means a more intuitive experience and a cleaner layout. Our app is going to work in the browser on the device of your choice. ZipBooks never watermarks invoices, sells your data, or sends you "partner" emails. ZipBooks has all the features you would expect from a mature accounting software solution including the ability to manually enter transactions, integrate and reconcile your bank account(s), and track all aspects of your business's value, including its assets, liabilities, and owner's equity.
Zuora is a SaaS company and the worlds foremost evangelist of the Subscription Economy. At the heart of Zuora is the leading enterprise platform, Zuora Central. Central sits in between the CRM and ERP and is the only solution that orchestrates all subscription order-to-cash processes in real-time. Enterprise leaders and high-growth companies alike use Z-Central, Zuora’s multi-tenant cloud platform to launch, scale, and monetize their subscription services. Zuora’s applications work where traditional ERP applications fail: Subscription pricing, quoting, orders, billing, payments, and renewals. Built from the ground up by SaaS industry veterans from salesforce.com, PayPal, and Netsuite, Zuora services innovative customers like Informatica, Tata Communications, Box, Xplornet, Ustream, and Reed Business Information.
PaySimple is the leading Service Commerce platform that helps SMBs add simplicity and flow to their business. Unlike retail payment solutions of the past, PaySimple has a unique service-focused architecture with a customer management system at its core. Users can create unique, customizable online stores that can be used to sell both products and services online in one marketplace. All billing and payment activity is mapped back to the customer record, further saving business owners hours of time while promoting their ability to foster relationships with new and repeat buyers. PaySimple services over 17,000 SMBs across the country, and its integrated feature-set includes: online, mobile, and POS credit card processing, hosted online stores, recurring billing, secure customer management, online payment forms, e-invoicing, cash flow reporting, e-check processing, a mobile card reader, a free mobile app and more. Go to https://paysimple.com/free-trial.html to start your free 14 day trial with PaySimple.
Replicon provides end-to-end Time Management software and services to enterprises of all sizes. Capture, analyze, and optimize time, your organizations most critical asset, to improve profitability, productivity and employee satisfaction. Salaried & hourly workers alike love using Replicon because it is simple and easy to enter their time, attendance, vacation, and expense information--via web browser or mobile app. Hiring managers use Replicon to optimize the types of workers to hire, what to budget for them, and what they should be working on. HR, payroll, and compliance managers use Replicon to automatically apply business & legal rules to eliminate under- or over-payment of employees, as well as to ensure everyone in the business is working according to the laws governing their specific location. Finance & project management teams choose Replicon because their success depends on accurate, granular and real-time reporting on exactly how well the business is performing with respect to project delivery, client billing, labor utilization, and other critical metrics. If you are looking to track, manage and optimize: time & absence, project details, client billing, expenses, or the productivity of your entire workforce no matter where they are or when they work, consider evaluating Replicon as a strategic partner to your success. For more information: visit us: www.replicon.com, call us: 1-877-662-2519 (North America) or +800-6622-5192 (outside North America), or email us: email@example.com.
Avaza provides an integrated suite of functionality for running your business. This includes Project Management & Collaboration, Time tracking, Expense Management, Quoting & Invoicing. Each of these modules can be used together or independently to suit a wide range of businesses. It's particularly useful for consulting & professional services companies that need all these functions, and enjoy having a single source of truth & powerful reporting. Avaza is built in the cloud and available on any device.
AvidXchange's complete solution is comprised of three main applications: purchase order application, invoice application, and payment application. These applications are supported by several service teams to enable our users to have a very supported software experience. Purchase Order Application AvidXchange’s Purchase Order Application enables you to automate your company’s purchase order process and control costs by preventing unwanted purchases. You begin your AP process by entering a requisition into the Invoice Application for the goods and/or services vendors require. That requisition is then sent into a workflow for approval. Once the requisition has the appropriate approvals, it becomes a purchase order and is sent to your vendor for fulfillment. After those goods and/or services have been rendered, the vendor will invoice you. When the invoice enters into the AvidBill Service, the purchase order is associated to the invoice using the original purchase order number, vendor, and amount that was established at the beginning of the process. The purchase order and all of the individual line items and coding have now “flipped” to the invoice. Invoice Application AvidXchange’s Invoice Application is a web-based paperless invoice management system designed to automate the way companies manage accounts payable documents. The Invoice Application provides finance executives and AP managers with enforceable controls, powerful reporting, and added “visibility” to all documents in their organization. AvidXchange Invoice mirrors your existing invoice approval process. Paper invoices are either scanned into an electronic format, or electronically submitted directly into the Invoice Application – either through direct data-import or through the Vendor Portal. Invoices are automatically coded, assigned to the appropriate workflow, and routed electronically for approval. Once fully approved, invoices flow directly into your accounting system for payment processing. Payment Application AvidXchange’s goal is to enable you to facilitate 100% of your vendor payments. Every company is unique and has a variety of vendor relationships, and our mission is to empower you with robust options to pay your vendors with best-in-class methods for paper checks and electronic payment methods. AvidXchange’s full-service payment offerings are available using AvidPay, AvidXchange’s bill payment service. When you select payments in AvidPay to be paid, they are then sent over to the AvidPay Network. The AvidPay Network is the network through which your vendors get paid. The AvidPay Network optimizes the electronic payment mix, with an average electronic adoption of 45%. For vendors that you would like to pay in-house, Create-A-Check is available as a self-managed payment option. You manage your vendor data and can facilitate payments via MICR check, ACH/EFT, and wire transfers in-house using the Create-A-Check software. 5 Key Benefits of Automating with AvidXchange: 1. Reduce Processing Costs - Automating reduces processing costs by 60%, or more. How? By eliminating the hard costs associated with paper invoices and checks, such as postage and check stock, as well as eliminating the soft costs associated with manual processes, such as data entry. 2. Create Processes that Scale for Growth - By eliminating the paper from your accounts payable processes, you also remove the manual tasks that are associated with them. Therefore, in an automated environment your company will be able to add invoice and payment volume without having to add headcount to handle labor-intensive functions. 3. Improve Control & Visibility - Automating payables gives your company 24/7 visibility into the status of invoice and payments from anywhere you have an internet connection. Additionally, we configure your workflows to mimic your current approval processes, so that you maintain all of the business rules you have in place today coupled with an electronic audit trail for an additional level of accountability. 4. Implementation in 45 Days or Less - We have a three-step process that we’ve developed over 16 years of helping to get customers up and running on our software. Every customer gets a dedicated implementation specialist that walks them through the three steps: data collection, configuration, and testing. 5. Service Teams to Support Your Experience - From the moment that you decide to become an AvidXchange customer, we have service teams in place to support you. During implementation, you have a designated implementation specialist to help you get up and running on our software, and after you’re implemented you get an account manager to help with any questions you may have along the way while you use the software. Additionally, we have a support team that has a 15-minute response rate based in Charlotte, NC. If you use our payment service, then you also are aided by our vendor enablement team and payment services team to maintain vendor data and optimize electronic payment conversion.
Invoice Ninja was built to serve freelancers and business owners with a complete suite of invoicing & payment tools to advance your business. Instead of using Word documents, nondescript PayPal forms, or overpriced software, with Invoice Ninja you can send beautiful branded invoices with minimum of effort and maximum professionalism.
FinancialForce Billing gives you the tools to automate your billing process, making sure that what your customer ordered is exactly what you invoice. Take the heavy lifting out of your invoicing process by eliminating manual intervention, automatically send bills to your customers and reduce the time it takes to get paid.
Apptivo is a cloud platform of integrated business apps designed for companies of all shapes & sizes. Manage nearly any business task using Apptivo's Apps, from sales & marketing, to billing & support, and everything in between. With Apptivo there is no per-app pricing, get access to the entire platform starting at just $10 monthly per user. Whether you use Apptivo for a single app, or to manage your entire business, it will deliver incredible value to the entire organization. Our apps cover the complete customer life cycle: Marketing - Create targeted lists of contacts, build & deliver email campaigns, and track analytics. Sales - Complete CRM capability with robust contact management, sales pipeline, automation, and reporting. Help Desk - A powerful ticketing system with email integration, web portal, and time tracking. Project Management - Manage project schedules via gantt charts, track time & milestones, and invoice for effort spent. Field Service - Work order assignment & dispatching, mobile photo, time, and materials capture, and billing. Quoting & Billing - Build professional quotes & email them to your customer with integrated billing & recurring invoice capabilities. Order Management - Turn quotes into orders, track inventory & shipments, and bill the customer for your product. Procurement & Supply Chain - Manage your vendors, track purchase orders & invoicing, and manage inventory. Apptivo is used by hundreds of thousands of businesses from 193 countries around the world, and can accommodate independent consultants up to billion-dollar enterprises. The flexibility of Apptivo is one of our 3 primary differentiators: Affordability, Flexibility, and Capability. With our entire suite of business apps available for a single price, we offer rich & powerful features across a wide set of apps that offer unparalleled capability for their value, with best-in-class configuration capabilities that make the system flexible for any type of business.
BQE Core is an integrated cloud-based solution that offers business accounting, time tracking, project management, and business intelligence. Core supports a wide range of industries, including accounting, architect firms, engineering, legal services and many more. You can access BQE Core from any browser or device and experience full functionality, the native mobile apps includes iPhone and Android devices. Core also carries over 200 customizable report templates to generate different invoice types from; retainer, recurring, hourly, fixed, per complete and more.
Chargent is the leading payment solution on the Salesforce AppExchange for credit card, eCheck and recurring billing. Chargent puts you in control of your payments, managing everything 100% natively in Salesforce, so you can capture revenue faster, eliminate duplicate data entry, and improve order and invoicing processes. Chargent includes connections to 30+ payment gateways, such as CyberSource, Authorize.net, PayPal and Stripe, as well as integrations to accounting systems such as FinancialForce and Accounting Seed. Trusted by millions of users since 2009, Chargent's parent company AppFrontier LLC is headquartered in San Francisco.
Keep billing statements current by instantly updating the system for employee additions, terminations and coverage modifications. Maintain accurate billing with support for real-time integration. Bill delivery and payment models are based on user preferences, providing increased flexibility.
Electronic invoicing platform - +2,500 suppliers and counting Keep track of your project costs with electronic invoicing. Leverage dynamic discounting. Allow suppliers to manage invoice disputes, convert POs to invoices and the best part - it's free for suppliers. Benefits: Reduce invoice processing costs. Take advantage of discounts and improve supplier relationships. Improve accuracy and working capital management. - Invoice compliance: Implement front-end validation rules that fit your company's needs. Garbage in, garbage out. Receive only correct and valid information from your suppliers. - Track invoices on demand: Provide your suppliers with meaningful, clear and transparent information about their invoice status on demand. With ALTO Exchange, reduce time spent on calls, chats and email inquiries. - Convert PO to invoices: With just one click, your suppliers can receive and convert approved purchase orders to invoices. Let your suppliers transact for free!
Bill4Time was founded in 2006 and is one of the leading web-based time billing software’s servicing small to medium professional firms across the world. Bill4Time has created a cost effective, simple to use, intuitive, and user-friendly software. With strong focus on convenience, Bill4Time offers anytime, anywhere access with online and offline access via our web application, desktop, tablet and mobile applications. Bill4Time’s goal is to streamline the time tracking and billing aspect of business so professionals can focus more on what they do best.
Armatic is a modern AR management and billing platform, providing automation, enablement & insights from proposal to payment. Built from the ground up with interoperability, Armatic enhances the power of your existing accounting/ERP system with integrated communications, workflow automation and powerful business intelligence. Key Benefits Include: Boost Cash Flow - Fully automated AR/Collections drastically reduces time to payment (DSO). Our advanced rules engine can deliver emails, SMS and Letters automatically, ensuring the highest likelihood of payment, while enabling prompt, efficient customer communication. Enhanced/Streamlined Billing - Enable subscription/recurring billing, progress billing, automatic payments, payment plans, late fees, coupons, online billing and interactive customer portals, all integrated with your current systems. Reduce Resources - Streamline processes and Increase efficiency/accuracy across finance, sales and support teams with dynamic automated workflows, self service options and automatic sync/reconciliation. Drive Revenue - Close more business with integrated proposals, electronic signatures. Centrally Manage agreements and price lists, share documents, capture payments and automatically start billing at contract. Unlock Data Insights - Increase cross team communication and visibility with communication tracking & customer/user activity logs. Analyze results performance with MRR, collections & churn reports/projections.
Invoice IT, now SteelBrick Billing, automates billing & collections, all within Salesforce. Manage orders and PO's, generate invoices, manage payments and recognize revenue. SteelBrick is 100% Native Billing app and part of SteelBrick’s Quote-to-Cash solution. Automate invoicing, generate invoices in bulk, configure and schedule multiple billing cycles, and automatically reconcile invoices. Integrate with your Accounting or ERP system (Sage, QuickBooks, Workday, SAP). Create high quality, branded invoices. Manage and collect payments without processing complications, and manage the dunning process. Easily manage taxes and tax rates, and sell and bill in multiple currencies. Quickly recognize revenue and report on quotes, orders, invoices and payments. With SteelBrick Billing, you can seamlessly integrate your invoicing, collections, taxes, and reporting, all within Salesforce. Save your company time and money while providing a superior user experience for your customers. Experience faster payments and improved cash flow with SteelBrick Billing, part of our Quote-to-Cash suite.
Express Invoice Free Invoicing Software for Windows is a complete and easy invoicing system. This easy to use invoicing software manages and tracks your billing on Windows. You can use Express Invoice to create invoices, quotes, and orders. You can also add multiple users and enable remote web access. Express Invoice Free allows you to create invoices that can be printed, emailed, or faced directly to the recipient. The reporting feature allows you to keep track of payments, overdue accounts, sales performance, and more. Express Invoice Free Invoicing Features: * Easily create quotes, orders, and invoices * Customize text, logo, heading, and more * Send or save files as PDF * Email and fax directly from application * Automatically send out statements to customers * Supports multiple tax rates * Reporting feature including accounting, sales, unpaid invoices, and more * Secure mobile web access
Fast, simple and free online invoicing and billing software in the cloud. Hiveage is trusted by more than 50,000 freelancers and small businesses from 140 countries. Whether it’s sending invoices, accepting payments or automatically charging clients, Hiveage helps you get your finances out of the way, so you can focus on the important stuff.
Moon Invoice" is unique and 1st invoice app with iCloud sync for iOS and Mac OSX for small businesses and individual. You can Create invoices, estimates, purchase orders, customers, vendors and payment receipts etc Let's Check Our Application Best Feature as below : 1 : Manage Invoices, Estimates and Customers, 2 : Manage payments per Invoice, 3 : Allow to personalise your company info, 4 : Time Tracking/Logs with filters options, 5 : Allow to create projects, tasks for time log entry, 6 : Easy to create customer by importing contact info from your iOS AddressBook, 7 : Instantly search for customers, invoices, estimates, 8 : Easy to filters invoices and estimates by status, 9 : App password protection options, 10 : Allow to create invoices from time logs, 11 : Option to convert Estimate to Invoice, 12 : Invoice and Estimate PDF Preview within app before send to customer, 13 : Invoice and Estimate in Professional PDF format, 14 : Options to add multiples taxes per task/product, 15 : Option to give discount on Invoice/Estimate, 16 : Option to type manually Invoice/Estimate number, 17 : App supports almost all currencies which supported by iOS, 18 : Support landscape and portrait orientation, 15 : Universal binary app work for all iOS devices (iPad, iPhone & iPod), Why this app? -No need to signup or no need to pay for any Cloud subscription monthly or annually, only one time cost, -You can use local storage too if you don't want to use iCloud, With Free version you can create up to 10 (invoices + estimates + PO) Most welcome for any suggestion or feedback to make better and enhance application Email: firstname.lastname@example.org
Oracle Project Contract Billing Cloud delivers a highly flexible approach to project contract-based billing, segregating the planning and execution of project work with a comprehensive, integrated solution providing full control over contract terms, rates and limits including when and how to recognize revenue and generate invoices.
Our Mission is: To deliver the smartest, safest and painless cloud accounting tools, so that our clients don’t waste time on tasks that are not part of their core business (such as accounting, invoicing or financial reporting). We help them stick to what they’re passionate about and easily organize their business anytime, anywhere.
Tipalti is the only end-to-end solution to automate the entire global payables operation in a unified cloud platform. We take the pain out of payables by cutting 80% of the workload, freeing up your team to focus on growth initiatives. We also provide the systems infrastructure to scale, with robust tax and regulatory compliance built in and financial controls to govern your AP operations. We do all of this while maintaining 98% customer satisfaction and work with leading companies like Google, Amazon, Houzz, Twitter, GoPro, and GoDaddy. We ensure success with dedicated service and support, and with more than 1.8 million suppliers around the world, we’re ready to drive your success. Tipalti provides accounts payable teams a complete global B2B payables automation solution that makes it painless to process invoices, match purchase orders to receipts and invoices, and pay suppliers and partners around the world. Wipe out 80% of your AP and supplier payment workload. Tipalti cuts the manual work from your accounts payable processes, so you can focus on revenue growth and cash flow management instead of back-office financial operations. Tipalti provides the infrastructure that sets you up for long-term sustainability, so you’ll never have to implement another AP system. Reduce tax, regulatory, and financial control risk. Built-in audit logs, OFAC and other sanctions screening before every payment is processed, signatory rights, role-based views and privileges, robust workflow approvals, and KPMG-certified digitized tax form collection and validation mitigate risk and fraud – and ensure compliance. Transform AP to a revenue center. Early payment referral fees give AP revenue sharing opportunities and allow companies to manage cash flow better without impacting working capital. Improve supplier relationships. Offer a broad range of global payment methods and currencies, improve payment accuracy and timeliness, give early payment discounts, and provide proactive supplier visibility to payment status and history to enhance the supplier payment experience. Tipalti’s enterprise-grade cloud platform meets the highest level of security standards with extended user roles, approval workflow, and data protection. Tipalti’s systems are PCI and SSAE16 SOC audit certified. AES encryption and white-listing ensure payer and supplier information is maintained to the highest industry security levels.
Invoice approval workflow - Streamline complex invoice handling process from receipt to payment. ALTO Accounts Payable is a flexible solution for invoice approval workflows. Monitors budgets, creates accruals, approves, rejects, reworks invoices. Manages exceptions. Benefits: Eliminates duplicate payments Takes advantage of discounts Eliminates late payment fees. Manages Exceptions. Improves controls Reduces costs. Improves accuracy, transparency and collaboration. Exception Handling Group Define and flag critical exceptions. Be proactive, not reactive. Your business, your rules. Rate overall experience: Every rating matters. Provide input on every single transaction. Supplier performance matters. Ease of use: Approve, reject, rework invoices with one simple click.
In today’s on-demand world, the needs of the market can turn on a dime. Aria Systems gives enterprise companies speed and agility to change with it. Aria’s cloud-based monetization platform removes billing bottlenecks to allow companies to quickly launch and evolve their offerings. Only Aria provides speed and agility at scale, delivers actionable customer insights, and empowers business users with direct control to better monetize their offerings. Innovative companies like Adobe, Philips, and Pitney Bowes depend on Aria to accelerate their time to revenue, maximize customer value, and grow their business. Aria is the award-winning and consensus analyst choice, top-ranked by leading research firms.
Billtrust provides payment cycle management (PCM) solutions to automate and accelerate the invoice-to-cash process. By integrating the three key areas of the payment cycle -- invoice presentment, invoice payment and cash application -- Billtrust delivers a flexible solution that accelerates cash flow, improves operational efficiencies and increases transparency for clients.
Cheddar is a full-featured billing and recurring subscription management system that was built around usage tracking. Our api allows you to accept and track one-time charges, recurring payments, and track customer data in real time. At Cheddar's core is tracked items and metering, which allows for billing insights based on usage and customer activity. Cheddar provides dashboards with crucial metrics for SaaS businesses like churn, lifetime value, monthly recurring revenue, number of signups, customer activity, and so on. Cheddar is simple and flexible to get up and running quickly, manage customers painlessly, yet provide long term scalability. At the same time, Cheddar provides intelligent tracking of customer activity which allows for smarter business decisions around pricing.
FastBill provides simplified, smart and beautiful accounting solutions for small and medium businesses. Create estimates and invoices, capture and archive receipts, keep an eye on all financials and hand over monthly reports to your accountant with just one click!
OneBill is the enterprise class Subscription Revenue Management Platform that has been designed to help evolving business demand. The platform is designed to handle with ease and efficiency for every aspect of your recurring revenue model business from personalized payment options, personalized billing, self-help portals, business integration and much more.
Inovaware is an enterprise billing automation and subscription management company.
Ramco offers post-modern and cognitive ERP software on cloud transforming organizations to digital enterprises. Ramco ERP is a comprehensive cloud ERP solution catering to the needs of fast growing enterprises embarked on digital transformation. Ramco's cognitive and post-modern ERP software help optimize complex business processes and enables organizations to thrive digitally. Ramco ERP offers • Unified solution - Power of One • Flexible workflow based approach • In Memory based real-time optimization engine • Cognitive & self-learning solution • Powerful Analytics Ramco ERP is scalable and can be deployed on cloud or on-premise. It supports integration with most of the existing business applications. Ramco ERP is ideal for any organization who want to optimize their operations, embark on Digital transformation and thrive digitally. Ramco ERP caters to both medium and large scale enterprises. For more details, visit http://bit.ly/2cpg2hg. Ramco is a fast growing cloud enterprise software player across ERP, Logistics, Asset Management, HCM & Global Payroll, Time & Attendance and Aviation MRO. Trusted by 1000+ customers worldwide and 150,000+ end users, Ramco Systems focuses on Innovation and Culture to differentiate itself in the marketplace.
Servicejoy was created with the sole purpose of providing a new perspective when it comes to online invoicing, one that helps small business owners, entrepreneurs and freelancers focus more on their work and creativity instead of wasting their time on accounting-related tasks. Simplicity is the key Instead of making people go through complicated interfaces and tons of records, we want to keep things simple. It’s important to have quick access to the files you need, you don’t have to search them for hours and hours. One of our main focuses is to find real-life problems that people encounter while using online invoicing software and integrating their solution into our product. We know that handling finances is very important for any business and we want to assure you that Servicejoy’s main focus is keeping that information secure and away from malicious hands. All information traveling between your browser and Servicejoy is protected from eavesdroppers with up to 256-bit SSL encryption. Helping is our passion The Servicejoy was created to make the lives of small business owners, entrepreneurs and freelancers that need to keep track of their invoices and accounting a lot brighter. Even the name our company comes from the two core values of our company: Service and Joy. We provide services that bring joy to our customers. Why do we care? We were in your shoes a few years ago and know exactly what a pain invoicing and accounting can be most of the time. We put our experience to good use and now we are proud to share our knowledge with you. Do you have a free plan? Yes, we have a free plan that allows you to invoice up to 5 active clients for free. But as you can delete and un-delete clients in your Servicejoy account, there’s potential for unlimited clients even with the free plan. If you have more clients, you can always use the 45 days trial that we placed on all accounts at your disposal. We allow you to cancel, downgrade and upgrade your subscription at any time. Can I contact you? For any inquiry, feedback or more information, call us 1-800-269-5940 or just send us a message directly from your Servicejoy account. If you are a social network user, you can also follow and interact with us on Twitter, Facebook, Google+, LinkedIn, Pinterest or Instagram.
SherpaDesk focuses on what matters most to professional services - Time. SherpaDesk is a cloud-hosted professional service automation (PSA) solution that integrates core business processes into one solution. Organizations are able to track customer service issues, capture billable & nonbillable time and monitor all of their project's profitability. SherpaDesk's mobile application is the perfect solution for any organizations who have techs in the field and need log their time and expenses.
The Helcim Payment Gateway is a feature included with the Helcim Virtual Terminal. As a total payment processing platform, the Virtual Terminal allows users to incorporate all aspects of CRM with payment systems. No longer are business owners losing resources downloading and installing plugins for functionality. The Helcim Virtual Terminal provides a payment gateway to facilitate payments, and a cloud-based back end that ensures merchants have a history of payments, tokenized customer credit card payment information, email invoices, automatic bank deposits, automatic receipts, customization payment pages and more.
Accrualify's Spend Management Platform helps corporate finance teams automate and manage their full AP process. Purchase Orders: Open the platform to all your employees so they can easily create purchase order requests. With customizable approval workflows, all PO requests are automatically sent to all required approvers. Accruals: Automate accrual estimate requests to vendors and have vendors input all estimate data for your admins. Invoices: Easily collect invoices from your vendors and have all invoices automatically go through your defined approval workflow. Payments: Quickly and easily pay vendor invoices with domestic ACH and internationally through our platform. Payments also qualify to go through a customized approval workflow. Additionally, if you have vendors that don't accept ACH payments, our platform will automatically cut paper checks for you as well. Budgets: Share budget and spend information with department heads, subsidiary leaders, and others to create a more transparent financial view for decision makers. Vendor Management: Make vendor management and on-boarding simplified with our Vendor Portal. Vendors input all required information, including key contact information, W-9s, payment details, and more, taking the burden off of your AP clerks. ERP Sync: All Accrualify products sync with all tier-1 ERP systems and most tier-2 systems. With our auto-syncing, your admins reduce time spent on inputing duplicative data.
Manage all billing scenarios: cost plus, fixed price, time and materials, milestone billing, and contract-specific pricing. Modify resource billing rates by project, project tasks, inventory item, employee, and account group. Bill labor and materials according to the customer, the type of work being performed, or the specific project contract.
BillRun is a Billing System for Telecom service providers as well other types of businesses. BillRun provides an efficient solution for companies that need to receive, aggregate, rate, charge and monitor customer usage throughout telecom communication paths such as telecom, SMS, MMS and data. The main billing capabilities include customer event real time charging, prepaid, postpaid and direct billing payment.
cleverbridge provides ecommerce and subscription management solutions for monetizing digital goods, online services and SaaS. Our cloud-based ecommerce platform simplifies recurring billing, optimizes the customer experience and offers comprehensive global compliance and payment capabilities. Leveraging cleverbridge expertise, technology and services, our B2C and B2B clients acquire more customers, improve retention and grow their revenue in international markets. cleverbridge is headquartered in Cologne, Germany with offices in Chicago, San Francisco, Tokyo and Taipei. cleverbridge was named a 2018 European IT and Software Excellence Awards Finalist (Small and Medium-sized Enterprise Solution of the Year); 2017 V3 Technology Awards Finalist (Best Business Application); 2017 SaaS Awards Finalist (Best SaaS Product for Ecommerce); and named an Accel EuroScape Top 100 Most Promising SaaS Company in Europe. The company was also named a 2016 SIIA CODiE Awards Finalist (Best Subscription Management Solution) and identified as a “High Performer” in the G2 Crowd Grid for Ecommerce Platforms, based on customer satisfaction and market presence.
Dynamics Billing is a powerful, flexible billing solution for Microsoft Dynamics CRM. Dynamics Billing gives our clients complete control over their pricing strategy, billing, and invoicing while helping them leverage, align with, and grow their customer relationships
Elorus is an online invoicing & billing software; ideal for freelancers and small to medium companies that Issue invoices within a few seconds and manage sales and purchases. Monitor your cash flow and overview the performance of your business over the course of time.
Express Waybill is an innovative trucking dispatch system, a driver and fleet management tool, and an invoicing system adapted for the trucking business. Fully integrated with Express Waybill trucking dispatch, the xDriver mobile app makes it easier and quicker to deliver information to your drivers. Get your customer's signature (as Proof of Delivery) on the driver's mobile device and view the signature instantly on the dispatcher screen. Real-Time Trucking Dispatch - Easily dispatch orders by making appointments. View available drivers and fleet. Add movements to your orders as they happen. Orders Management - Your order history is kept by an order management system. Advanced order search-engine with 12 search criteria. Invoicing System - Create invoices from your delivered waybills and keep track of your customer payments. Print and send PDF invoices. Address Book - Keep your customers' contact details and frequent routes on hand in safe, organized fashion. Drivers & Fleet Management - Driver license expiration and truck & trailer inspection date notifications. Reports - Bookkeeping, profit/loss & operations reports. Multi Office - Express Waybill works for multiple offices. Free and continuous updates, daily backup and dedicated support.
Firm58 is a financial management software platform that automates capital markets firms' middle- and back-office processes across asset classes to provide insight into commissions, fees and compliance. The SaaS platform offers solutions for billing (revenue management), profitability analysis (exchange fee management), commission sharing arrangements/soft dollar management, and surveillance & compliance. As trades are divided across multiple execution venues, it becomes difficult to effectively manage fees, commissions and compliance. From billing or revenue management to regulatory compliance, the Firm58 platform gives businesses the reporting and analytics capabilities needed to identify valuable cost insights and quickly respond to changing market conditions. Clients include global market exchanges and execution venues, leading institutional brokerages, clearing and non-clearing broker-dealers and proprietary trading firms. The platform frees companies from the cost and maintenance of on-site infrastructure, with convenient access via your browser.
Invocus is an accounts payable software provider. We offer cloud-based collaborative end-to-end eInvoicing solutions which help businesses across the globe in paper free and hurdle free smooth invoice processing from capture to payment. Invocus product portfolio includes the Supplier Self-Service eInvoicing Portal (ZSN), Supplier Collaboration Solution (Supplier Connect), Invoice Processing Solution (Invoice Express) and Early Payment Discount Management Solution (Encash). We are the eInvoicing division of Zycus - the well-known global leader in source-to-pay suite of software solutions. Our mission is to empower accounts payable professionals to be able to work smart, collaborate better and save more. We believe that AP can do much more for their organizations in the form of stakeholder satisfaction, supplier happiness and a healthy financial supply chain. SOLUTIONS WE OFFER Cloud Based End to End E-Invoicing Supplier E-Invoicing Portal Supplier Self Services Invoice Cloud OCR Invoice Processing Solution Invoice Matching Invoice Workflow Early Payment Discount Capture Solutions
Invoice offers a refreshingly simple and easy to use solution for small business owners, startups, entrepreneurs and freelancers to send invoices and get paid faster than ever before. Invoice is 100 percent free for unlimited invoices and unlimited clients.
CRM and Billing SaaS for Performance Advertising Networks running on HasOffers by TUNE. item8 is designed specifically for Advertising business. It manages workflow of your Affiliates, Advertisers, their documents (including Agreements and IOs), Legal entities and Contacts. Billing features include creating Postpaid and Prepaid Bills and Invoices, editing them and adding any custom statistics. Bills and Invoices can be sent to your counterparties and paid after your approval. Integration with HasOffers via API synchronises the data in two-ways. All system currencies, countries, documents and email templates are customizable. System keeps full logs, comments and actions history for All objects.
Manhattan Associates' Billing Management solution is designed for 3PLs, and uses time-based rules to streamline cost calculations and the invoicing process dynamically managing the billing process across all facilities.
Taking the best of a traditional office work area and digitizing the most familiarly used aspects creates a single WorkSpace. Combining dashboards and data-entry into one screen, users find a uniquely empowering experience where everything is just one-click away. Work in One place, and for teams, Work as One! This experience is what we call, WorkSpace.
Outseta is the only all-in-one platform integrating CRM, subscription billing, customer communication, and reporting tools that reduces costs, maintenance, and helps SaaS start-ups get off the ground faster. Outseta gives your company a single, clear view of your business' operational performance allowing you to better focus your efforts and spend more time building your business.
Paygle provides businesses large and small with a full marketing CRM function centered on providing digital receipts, digital invoices, mailboxes, marketing messaging between the business and its customers. Paygle can also assist small businesses to build a customer database through e-mail receipts registration at point-of-sale, if the business does not currently have any customer database or wants to grow what it has.
ProperInvoice helps Freelancers, Startups and Small Businesses create and send Invoices and Quotes to customers in under a minute. With ProperInvoice your customers can pay your invoices online. You can also track all your expenses easily. ProperInvoice also helps you monitor key financial metrics of your business in realtime.
Redknee's TCB (Turnkey Converged Billing) is an end-to-end solution that delivers centralized business intelligence, personalized subscriber experience and a full suite of billing capabilities enabling operators around the globe to differentiate from the competition and maximize profitability.
Time & Billing System is an advanced web-based solution for companies to track their employee hours along with an intuitive billing system to help achieve increase in productivity.
Softrax Revenue Manager is a Modular Solution for Enterprise-Level Revenue Recognition Challenges. It represents a self-contained module that seamlessly integrates with existing systems to act as your revenue subledger. • Full support for ASC-606/IFRS 15 • Support for multiple revenue policies (“Books”) • Deep functionality via “Point and Click” configurations • Robust audit support (both revenue policy and transaction processing) • Revenue Transparency via a state of the art BI engine • Security and access controls • Strong support to handle post-processing changes and adjustments • Plug and play integration with over 200 ERP systems Revenue Manager is the culmination of two decades of experience in managing complex revenue recognition. Revenue Manager provides the most rapid, least disruptive means of automating revenue recognition to ensure compliance in this time of regulatory change.
Designed to simplify the process of exchanging documents between trading partners, Tradex has been refined over the last 15 years to become a full Source-to-Pay solution that enables trading partners to take advantage of the efficiencies and intelligence brought about by digitisation. Enhancing business relationships is not new to us. In 15 years we have dealt with a variety of supply chain challenges faced by businesses of varying sizes, enabling us to gain a grounded understanding of how best to tackle these problems. We serve over 35,000 customers, who all gain access to the very latest advancements in e-Invoicing technology.
WorkWeek is the all-in-one tool to help small service businesses manage their work. It provides a professional business website that stays up-to-date as the business grows, with beautifully simple and clear invoices that can be paid online, as well as customer management that’s effortless to use.
Billing and invoicing software provides a range of functionality that is critical to collecting revenue, the end goal for all successful businesses. These billing solutions may vary in breadth of capabilities or target different professions and business sizes, but each offers the ability to streamline and automate the invoice and billing workflow. Collecting payments from customers can be a struggle, so improving the billing process and increasing the ease of collection to help ensure timely payments is always beneficial.
Billing software allows users to build an invoice that will eventually be sent to a customer to collect payment. Often, billing solutions offer pre-built invoice templates for users who are looking for basic, straightforward invoice layouts. They may also offer an invoice creator for companies interested in building out custom invoices, which can be branded and personalized to fit a company’s criteria. Once the invoice is built, users may choose to print and mail the invoice; however, online invoicing is more widely used in today’s business world.
Users can set invoice reminders that alert the customer that a payment due date is approaching, making sure that they are aware of what they owe and helping get ahead of the collection process. Customers can reply to payment requests on the spot, either through a payment gateway or directly through the invoice, with a variety of different payment methods. This includes credit card or other forms of electronic payments, which can be set up to recur monthly or on a subscription basis.
For project- and service-based companies, time tracking functionality is offered to record hours worked and to bill for those hours accordingly. Hourly rates can be adjusted based on the project or employee; expenses associated with said project and employee can be documented as well. Once that information is recorded, invoices can be sent and payments collected.
Billing fits into the overall accounting software ecosystem, and is just one aspect of financial management. These solutions generally integrate with other accounting, ERP, or CRM tools for greater insights and transparency into business processes. As a business grows its customer base, billing software provides one central location for all invoice and collection needs, allowing businesses to stay organized and on top of their finances and overall revenue management.
The reasons for using billing software appear simple at first; in actuality, billing solutions provide a breadth of advantages for accounting departments and businesses. The business problems that billing and invoice software solve range from basic organization of invoices, to automated collection, simpler record keeping and tracking, and even improved customer relations.
Improved Organization – When a business has multiple customers, it can be challenging to keep track of all invoices. That’s where billing and invoice software comes in to play. Billing solutions provide one central location for all invoices, so accountants are never scrambling to find documentation surrounding paid or unpaid bills. This billing hub ensures that businesses can better keep track of all customers and where they stand with their payments. This helps businesses improve customer relationships through the ability to routinely follow up and request payments when they are due. It also helps accounts receivable departments track all incoming finances for better overall accounting. If a business is not using a payment management system, such as a billing and invoicing software, then accounting departments will be spending hours just attempting to organize invoices, let alone make sense of them.
Billing Automation – Before billing automation, businesses would usually have to create invoices in a basic document creation software (such as Microsoft Word), print the invoice, and mail it to a customer. That customer would usually have to write a check and mail it back to the business. However, billing and invoice software allows users to automate this process from start to finish. Users can create invoices online and send them to customers instantly via email or a client portal. This online invoicing allows customers to then pay instantly through the application, and the business receives its money instantly. This automation saves businesses time and effort, and allows for increased tracking capabilities. The biggest business problem being solved with billing automation is attempting to eliminate late or missed payments by customers. By doing so, businesses can collect money on time and help improve revenue growth month over month, quarter over quarter, and year over year for increased valuation.
Easier Record Keeping and Tracking – By integrating billing and invoice software with accounting software, users can easily keep track of end-to-end accounting records. Billing software specifically tracks all expenses and records from invoice creation to the payment by the customer. This provides more transparency for businesses and allows for accurate accounting through the end of the billing cycle. These solutions also provide insights into the financial standing of customers, which is a huge benefit when customers are set up for subscription billing.
Improved Customer Relations – Sending prompt alerts for customers with outstanding balances is not only a good way to ensure timely payments; it is also a way to reach out and build customer relationships. One might believe that these notifications are agitating, but in reality, customers want to pay on time, so being proactive in this scenario is helpful. Additionally, client portals offer a way for accountants on both sides of the invoice to quickly converse as well as a way for companies to provide quick customer service. By staying on top of billing inquiries, businesses can maintain positive relationships with customers and receive timely payments.
Billing and invoicing software is used by a number of different employees within an organization. The main role that utilizes billing solutions are accountants. An accountant is a broad title, but often in-house accountants are in charge of accounts payable and accounts receivable, meaning they are required to collect payments from customers. Those specifically tasked with collection may be considered billing coordinators or collection specialists. Some larger enterprises may employ billing analysts to help forecast and budget based on billing and revenue history.
For professional services, a project manager may be in charge of invoicing customers. This is done based on specific projects, how much time was spent on a project, and the hourly cost for the customer. The project manager may be tasked with working with the customer and ensuring timely payments come in, regardless of the progress of the project.
In the health care world, medical billers and coders are in charge of collected outstanding payments. This is a much more complex and regulated form of billing collection due to insurance claims and the complications included with that side of the business. For smaller, private practices, the doctor or the office administrator may be in charge of filing insurance claims and collecting payments. Other practices may outsource to medical billing services.
Small-business owners may be the ones in charge of collecting payments if the company is not large enough to have its own accounting team. Often, these users will have a small-business accounting tool that offers online invoicing and invoice templates. These solutions are built for those that do not have the expertise of accountants or collection specialists.
Medical billing software – Medical billing software is used by hospitals, physicians’ offices, home health care facilities, and other medical institutions to create, distribute, and manage bills and invoices for the services they provide to patients.
Due to the unique industry requirements of the medical industry, and to encourage compliance with medical privacy regulations, such as the Health Insurance Portability and Accountability Act (HIPAA), it is recommended that medical institutions utilize medical billing software solution rather than more general billing and invoicing software that can be used across any industry. These tools offer specific functionality that is especially helpful to medical billers and coders, who need to code patient charts following treatment and initiate insurance claims.
Medical billing tools are often set up to easily integrate with other tools that are fundamental to running a hospital or medical practice, such as EHR tools and medical practice management software. Medical practice management tools also often include native billing and invoicing features, eliminating the need for a standalone medical billing tool. The decision of whether to use a standalone medical billing product or a medical practice management tool depends largely on the number of physicians, patients, and procedures conducted within the practice, with mid- to large-scale offices or practices being at the level of maturity to consider a more all-encompassing tool.
Legal billing software – Legal billing software is a critical and foundational tool for any law firm. This software enables attorneys to calculate billable hours and generate invoices to ensure payment is being requested for services provided. Legal billing software can be used by lawyers working independently, entire law firms, or by legal departments within a larger organization.
Law firms typically bill hourly, and as such time tracking features are important to look out for in this type of billing and invoicing software. These tools provide legal-focused billing features such as retainer-fee and split-fee functionality as well as the ability to create user standards based on the job role of the person whose time is being billed. Additionally, they provide native activity coding features that align directly with the American Bar Association’s uniform task-based activity codes. Automating the uniformity of billing information helps to more easily serve clients and companies who want to track legal cost benchmarks or more closely track legal expenses. What would have been a largely manual administrative task in the past, or with more general billing tools, becomes streamlined and automated with legal billing software.
The type of legal billing software that is right for you or your business will largely depend on the type of legal operation you run. Solo practitioners, small firms, and large firms will all have varying needs when it comes to the features of legal billing and invoicing software. Legal billing features are often included in legal practice management software, which provide tools to manage the daily operations of a law firm (including functionality for case management and client management, among other features) in addition to legal billing.
Billing software for small businesses – In a small business, time is one of the most valuable resources, and accounting teams could always use more of it. Small businesses often rely on a single accountant, or small team, to manage billing and invoicing, accounts payable and receivable, and balancing the company’s general ledger, among myriad other tasks to keep finances in order. Invoicing software for small businesscan help ease some of the strain when it comes to streamlining billing and collection processes.
To keep a small business afloat, efficientefficient, closely monitored billing practices are a must. These tools frequently offer features for time tracking, invoice due dates and reminders, tax calculators, and more. These automations, templatized tasks, and reminders help a busy accountant who is potentially stretched thin. Invoicing software for small businesses is typically a point solution (a tool that only provides billing features), but there are also small-business accounting tools which introduce automations into a small business’ end-to-end financial management process, including the billing and collections process.
There are a number of free invoicing software products, or products which offer a free trial, that can be beneficial to a smaller company that is just starting out and either doesn’t know the extent of tools needed or is looking to limit expenses. These offerings are typically stripped-down versions with a heavy focus on simplicity and ease of use.
Inventory-based billing software – Companies that sell physical goods may want to consider purchasing an inventory-based billing software tool. As mentioned above, many billing software products are geared toward billing hours or for services. However, companies that maintain an inventory and sell goods may want to consider an inventory-based billing tool with features specific to their use case.
Billing and invoicing software features have many benefits; however, most tie back to the simple solution that these products help minimize late or missed payments, as well as optimize and automate the overall collection process. The following are all reasons why businesses should adopt billing software:
Invoice creation – Billing software offers users easy and simple invoice creation, whereas prior to billing software, users were required to build out each invoice manually. Instead of this labor-intensive process, invoice templates in billing software enable fast and streamlined invoice creation. By providing pre-built invoice templates, users can quickly create an invoice to be sent off to a customer.
If one wishes to customize an invoice, they can include a variety of personalized information, such as a logo, business address, company branded colors, and any other necessary information required in the form. Additional invoice information may include receipts to prove expenses and tax rates, among other fields. Each of these customizations helps make sure a business receives all the formal information required to bill a customer.
Online invoicing – Prior to billing software, businesses had to not only manually create their invoices, but also send them through the mail. This would take a considerable amount of time and make collections for end of month, end of quarter, and end of year time consuming. If a business prefers to print out invoices and mail them, many products offer the ability to print; with the use of billing software, companies can instantly send over an invoice to a customer via online invoicing. This allows simultaneous invoicing to customers all over the world. Businesses can rapidly collect, because customers can submit payment directly through the invoice, no matter their location. This is particularly convenient for global businesses because billing software can record finance records in all currencies and convert to an overall total. The streamlining of the billing process is a major benefit for businesses and a key reason why companies choose billing software.
Automated reminders – If a lawyer or a project manager has one client, it might not be a burden to call said client and inquire about paying bills every month; for businesses with hundreds or thousands of clients, it can be a major hassle. Billing software allows users to set up automated alerts that send reminders to customers before their payments are overdue. By setting up these automated alerts for all customers, the accounting team at a company never has to worry about remembering who they have or have not bugged to pay their bills. Additionally, no one has to take the time out of their day to call up and pester a customer for money. These automated reminders help ensure that a business misses less payments from its customers.
Estimates – Similar to building invoices, many billing solutions allow users to build estimates through the use of pre-built templates and many customization options. The benefit of creating estimates inside billing software is that if the customer accepts the estimate, the user can turn the estimate into an invoice quickly and seamlessly, without having to recreate all the information on the invoice. By recording estimate history, businesses can track rates of acceptance and re-evaluate pricing and discounting tactics to optimize landing new business.
Recurring billing – For long-term customers, businesses can use billing software to set up recurring payments that automatically charge customers in an agreed-upon cadence. If customers have submitted a credit card as preferred payment, it will automatically be run by the business at each correct date. This makes it easier for both the business and customer, since they can worry less about making and receiving the payment and rely on the software to do the work for them. For businesses that use a subscription-based revenue model, these solutions are often considered subscription management software; however, there is some overlap between the two.
Billable time tracking – Instead of requiring users to record their billable hours in a spreadsheet or complementary solution, billing software often offers time tracking capabilities. This enables employees to record the exact hours that they work on specific projects and then bill at the rate appropriate to that service. This allows high-level insight into the project as a whole and how much it is costing the client. This functionality is used in PSA software, but offers additional project and resource management capabilities.
Flexible billing options – The subscription management features within billing software enhance these solutions by easily offering different pricing package for certain customers and unique billing structures. These flexible pricing options make life easier on sales teams and accountants by providing reasoning, one-off value details, and the level of discount they are providing to customers as a whole.
For professional services or project-based companies, these flexible billing options are very important. Administrators can set billing rates for specific employees or projects instead of having one standard rate across all business units. Additionally, businesses can opt to bill at certain milestones within the project, even if it is not complete. This is particularly convenient when expensing materials for the client. This flexible functionality is prevalent in PSA software.
Payment tracking and reporting – When a business has alerted a customer of a required payment and they still do not follow through with their contractual agreements, billing software makes it easy to understand who is lapsing. Instead of digging through spreadsheets or books to know who has and has not paid during that payment period, billing software offers payment reports to get a quick view into customers at fault. Also, these payment reports can provide insights into who has possibly overpaid their invoice and has earned a credit, or which customers require a refund.
Revenue reporting – Billing software can help businesses record and track revenue. Often, these solutions integrate with a CRM or accounting tool that helps track end-to-end financial details. By knowing which accounts have paid their bills and the overall financial standing of the company, businesses can build budgets, forecast, and give clear pictures into their revenue status. Billing data can feed into corporate performance management (CPM) tools to help conduct such projections.
Client portals – Some billing solutions offer a client portal or a forum for accountants from both parties to communicate with each other to solve problems. Different departments are also provided a centralized location to view and understand billing details. Companies can make payment information and options clear to customers through the methods indicated by the billing software product. In addition to basic communication, a client portal provides a location for customers to see their entire transaction history and any outstanding payments. If a customer needs a copy of a particular invoice or receipt, instead of submitting a request for that document, they can simply download it from their portal. This saves time for both the business and customer. This transparency is also particularly beneficial for project managers who are billing a client for specific tasks or milestones, as well as tracking expenses. The client can have exact insight into the progress of the project and what they are being charged for.
Mobile billing – Many billing solutions offer a mobile application so that users can send and receive invoices on the go. This is particularly helpful for service businesses, so that when a project or job is completed the employee can send an invoice immediately upon completion. By sending it from a mobile phone, the employee does not need to record the information after the fact; instead, they send the invoice and receive it on the spot. This is an invaluable time-saver for small businesses.
The billing software industry has not taken many progressive steps in terms of innovation in recent years; however, some basic trends in the entire software world are relative to billing and invoicing software, including cloud-based and mobile applications, as well as integrations.
In the future, billing solutions may include blockchain technology. Blockchain ledgers would help improve the speed of transactions from business to business. In addition, it would help security concerns by keeping the terms of a contract encrypted, as well as the amount of the transaction private. Blockchain may help billing users optimize ledger recordings by automating the step between billing and general ledger. The payment would be automatically put into a blockchain ledger and the information recorded. This would help improve financial close and make the life of accountants much easier at the end of months, quarters, and years.
Any time a company is making transactions, there also runs a risk of error. For billing and invoicing software, these errors may come in a variety of different ways.
Failed Transactions – One error may be a failed transaction, where the customer provides a payment but it does not go through. This may happen when the customer is light on cash or something much less concerning occurs, such as an expired credit card. Regardless, this can cause difficulties for accounting teams because they are not receiving the correct amount of funds on time.
Discounts and Promotions – Many billing solutions provide flexible payment options, but if these are not communicated properly, customers may pay an incorrect amount. If a sales representative has given an incorrect discount, then this may cause errors. Fortunately, billing solutions usually display how much credit a customer has in the event of overpaying.
Automatic Billing Issues – This is more likely to be a concern with subscription management software, but it is relevant to billing solutions as well. If a customer is signed up for automatic billing each month, but for some reason has insufficient funds in their account, then the automatic transaction would be rejected. This again becomes problematic when trying to collect funds by a certain date. Additionally, if a customer is unaware that they are enrolled in recurring billing and is subsequently charged, then they may be unhappy.
There are a number of related software categories that integrate and work in tandem with billing and invoice software. Accounting software is the most obvious of all billing integrations. By connecting billing and accounting software, companies can improve tracking and recording practices and further automate tedious accounting tasks. Smaller companies may choose to utilize small-business accounting software that offers all necessary accounting functionality for smaller shops, including invoice creation and online invoicing. Additionally, ERP systems may provide billing modules within the accounting solutions offered.
CRM systems can connect to billing solutions to provide insight into exact accounts and their billing history, as well as denote any outstanding payments they may have. This is convenient because it provides transparency across business units, aligning sales and accounting teams. Sales may also utilize CPQ software, which can be impacted by billing in the sense that the quotes provided from a CPQ solution can be turned into an invoice. Again, this helps optimize processes for sales and accounting.
For professional service companies, connecting time tracking and billing is critical because they frequently bill hourly. Providing insights into the amount of time an employee put into a specific project and how much they earned for the company based on that time tracking is a crucial business process. Often, time and billing capabilities are combined in professional services automation (PSA) software, which can send invoices directly from the tool.
Subscription management software offers recurring billing functionality for businesses that use a subscription model for revenue. These payments will be processed automatically. This is particularly convenient for e-commerce businesses that rely on yearly or monthly subscriptions.