Business owners rarely have time to focus on collecting money and sending invoices. While revenue is essential to the success of any company, a sufficient process to ensure timely collection is often lacking.
If you find yourself spending hours on end every day sorting through an outdated billing system or you’re paying too much in transaction fees, subscription billing software is the perfect option for you.
Reduced Administration and Headaches
Like anything else in business, technology integration allows for easier administration of the system and offers a reduction in headaches and stress.
Business owners who run a small company are normally more focused on providing an excellent product or service to their clients. This leaves little time to determine what type of billing system is best for them. A new billing system can effectively automate the invoicing and payment collection process, which can save the business owner time and expenses related to hiring a full time accounting staff.
Minimize Billing Errors
The ability to accurately record dollar amounts is crucial when sending an invoice to a customer or compiling reports for any reason. Manual billing systems are prone to human errors, which could cost a business a significant amount of money.
Automated billing systems can automatically compile numbers for quotes and subscriptions, saving the business owner or administrator from having to double and triple check their calculations. You’ll also save yourself from having to deal with upset customers who might subscription invoices with inaccurate amounts.
Generating manual reports can cause significant amounts of stress. Spreadsheets need to be filtered by column, item, customer and more, while monetary numbers need to be double checked for accuracy. Using spreadsheets to manually create reports is also risky because human errors are common when entering data into cells.
Subscription billing software offers the easiest and most comprehensive solution for financial reporting. Reports can be automatically generated for any specific time period without having to manually enter information into a spreadsheet. Automating business reporting can also improve overall profitability because essential staff members can focus on improving other aspects of your company.
Whether you currently use spreadsheets and a separate third party billing system for subscriptions and report generation, or you simply send manual invoices to each of your clients, an automated subscription system can help you save time, money and will free you up to focus on increasing revenue for your company.