Blog | CloudBooks | Invoicing Software for Small Businesses

Top 5 Reasons why Telecom Billing Software is the Need of the Hour

Telecom companies generate invoices every day and to a vast variety of clients. Invoicing is an extremely important part of a telecom company’s operations and profitability. Yet, it can prove to be a great challenge for them, unless they embrace advanced technology. Fortunately, telecom billing software companies have taken this requirement of highly rated telecom companies into consideration and come up with telecom billing software that can automate invoice generation.

Today, even free telecom billing software can do most of the bookkeeping for a telecom company. Additionally, such software can be used to map out expense management, track time, and build a robust billing and operations system.

So, here are 5 top reasons why a telecom billing software is the need of the hour.
1. Accurate Automated Invoicing
2. Bill Diverse Services
3. Audit Active Services
4. Manage Your Taxes
5. Reduce Cost for Operations

Also Read: Why Enterprises Should Use Custom Billing Software?

Accurate Automated Invoicing
Whether it is a duplicate entry, or an error in filing for services, a telecom billing software catches it all. You can make your own customized templates for specific services and any errors you make during input will get revised.
Using a telecom billing software system helps you create timely invoices with automated invoicing. You can set up recurring invoices and payment requests through this software. This notifies your bookkeeping team every time you generate and send an automated invoice. And these are further added to your records.

Bill Diverse Services
For a telecom service provider, the types of services might change on a weekly basis. Some users might file in applications for a new service every day. To keep up with the ever changing services, using an online billing software can be immensely helpful.
You can allow your clients and users to bundle up different services, using billing software online. With such software, you can add individual pricing for services and make sure you develop a live catalogue for your users.

Audit Active Services
Auditing is something most telecom companies struggle with at the end of every fiscal year. Due to the complexities of a telecom company, the levels of audit are many. A telecom billing software addresses this problem by auditing active services periodically.
This allows you to build a strong foundation for a full audit as and when you require it. Additionally, a telecom billing software allows you to enable full auditing for your database. And to avoid any unnecessary losses, or leakage, this software allows you to set up alerts and report notifications.

Manage Your Taxes
It really does take a lot of sweat and blood to build an organization, understanding which, every local government offers tax rebates to businesses. Unfortunately, a large number of companies can’t cope with the tedious tax filing process.
Also, hiring professionals to manage your tax process is not only costly, but also not very efficient. However, online billing software can always keep you on top of your taxes and local policies.

A telecom billing software will create tax reports for a fiscal year, along estimates for the next quarter. Furthermore, it ensures you are tax compliant and receive tax benefits. Such software manages non compliance issues faced by you, and makes sure you are following all the local legalities.

Also Read: Important Key Aspect of Every Billing Software

Reduce Cost of Operations
Billing software solutions have a special ability to flexibly fit themselves into your existing business operations. They have an architecture that focuses on business growth and can be integrated with multiple software tools.
Overall, by adopting telecom billing software, you can manage your internal resources efficiently whilst maintaining the required workflow automation. Such software come with its own open APIs and adjusts via integrations to other business software that you already might be using.

Here’s How Time-Tracking Software Makes Life Easy for Consultants

Consultants often take a tough beating when it comes to managing their finances at every step of their business. Whether you are freelancing, or involved in a full time job, you usually have a lot on your plate. And this is the reason why using a time tracking software becomes essential, so that you can get compensated aptly for the services you provide. To know more, read on.

Why do you need time tracking?
Time-tracking is a must have for any consultant looking to save their time and easing work operations. Free time tracking software for consultants can especially enable you in making better business decisions and attain better growth.

Even if you are using excel sheets for invoicing, or making use of a time sheet, as a consultant, you are missing out on the facilities a time tracking software has to offer. With a customized consultant time tracking template, here’s how the software can help you:

• All Your Services Accounted
• Send Accurate Estimates to Your Clients
• Boost Productivity with Automation
• Manage Projects Efficiently

All Your Services Accounted
By using a time tracking software, consultants can track specific tasks automatically. This means whenever you open that task from your dashboard, the clock ticks off and times you as long as you stay on that task.
This time and effort is thus recorded, and becomes handy when you are filing invoices. So every little service, or sub-service you provide, remains in your record through a consultant time tracking template.
In your final invoice, you can accurately report the exact amount of time you spent on not just completing a task, but also the target based research you did, or the time you spent on reporting, or the time you spent getting in touch with the users. This can be a huge boost for your paycheck, given that you are spending so much time communicating, and deserve to be paid for it.

Also Read: 5 Benefits of Time Tracking Software for Business

Send Accurate Estimates to Your Clients
Every project a consultant takes up entails a certain amount of time, effort and management. It is not specifically easy to confidentially offer estimates to clients, especially if the project requires a new task you haven’t performed before.

A time tracking software allows you to estimate the time you will spend on a project by doing simple organizational arithmetic. Such software simply divides your project into specific phases, and tracks them individually. Using this, a time tracking software takes up data from previous such tasks to understand how you work on every task.
By analyzing your tasks thoroughly, a time tracking software will build accurate estimates for your clients. And the more you work, the more your software grows and makes accurate estimates. At a later stage, you can opt for a time tracking software for agencies if you need.

Boost Productivity with Automation
The first step to managing and improving your productivity is to check where you are going wrong. And most consultants use a free time tracking software for consultants for their own growth.
A time tracking software automatically tags each of your tasks and builds progress tracking reports. These reports not only record the time you spend on a task, but also check the time for which you are idle. And it also records the times of the day when you are taking a break.
Such software offers a reliable mirror to what you are doing on a daily basis. And you can add customized alerts and notifications, to automatically notify you if you are exceeding the estimated time allotted to a given task.

Also Read: Time Tracking Software For Freelancers

Manage Projects Efficiently
The workflow of a project is generally decided during the sign-up period by most consultants. This means, you already have an operational workflow on your hands.
A time tracking software will analyze this workflow, and automatically plan your workload to balance it according to your timeline.

Setting up a budget can also be done accurately using a consultant time tracking template on such software. This will allow you to simultaneously manage multiple tasks and projects.
To conclude, time tracking software is the need of the hour if you want your consulting business to reach an all-new high and manage project and profits efficiently.