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7 Awesome Things You Can do With Online Billing Software

If you think online billing software is just your average crunch the number type software, err, you are mistaken. Billing software for business not only saves your time in managing bills but also helps you in invoicing and accounting. Online billing software is much more than just invoice template generators and payment channels. Here are seven awesome things you can do with online billing software:

1. Automate Invoicing for Recurring Payments
Unlike any other billing system, billing software for business takes the most basic task in finance management—invoicing—and automates it. If your business generates invoices daily and the process is managed manually, then you must consider switching to online billing software as it can streamline the process making it more efficient and cost-effective. By using software, you can set up automated invoices for all your recurring invoices. Online billing software will automatically input the required information to a set pattern of invoices and send it across to your client.

Also Read: Important Key Aspect of Every Billing Software

2. Get Quotes Approved and Generate Invoices
Online billing software for business allows users to create invoices with quotes. Despite looking like invoices, these receipts are used to share the quote for a task with clients. Under the quoted amount, there is a button to approve or disapprove the quote. However, once the client verifies the receipt and approves the quote, the receipt is converted into an invoice with the approved quote. It requires no additional work and takes a few seconds to create. In case the quote is unapproved or disapproved, the client can negotiate the price with you which can be then edited straight away on the same receipt. Billing software for retail shop often contain means of correcting or updating quotes even after the invoice has been sent.

3. Suits a Wide Range of Payment Channels
Online billing solutions offer businesses an advantage over all other types of billing methods. Online billing systems allow the user to add a payment channel to the invoice. The payment channel can be used to make payments through credit cards, debit cards and online wallets, thus making it easier for the clients to pay directly without having to configure payment methods at their end.

4. Create Invoices on Your Phone
Most online billing software comes with a mobile application with access control and thorough verification. Users or employees of a business can access relevant data by signing up and getting verified through the mobile application. Once logged in, the users can access almost all features that are available on the desktop version. From instantly creating new invoices to editing previous ones, everything can be done on the phone by using billing software for business.

5. Set Up Automatic Payment Reminders
Ensure you receive payments from your clients on time by sending them timely reminders when needed. One of the biggest advantages of using the best online billing software is the ability to set up automatic payment reminders for your clients.

6. Integrate Online Billing Software with Accounting Software
Online billing software and accounting software together creates an efficient financial management system. By using them together, you can make sure that every new invoice is automatically added to the books and every new payment gets updated. By integrating the two software, you can have a smooth and stress-free tax season too.

Also Read: Purchase The Billing Software of Your Dreams—Top 5 tips

7.Get Updates for Each Invoice
Are you wondering if an invoice was cleared on time or not? Worry not. Online billing software, when linked with your bank account, gives you constant updates regarding each invoice automatically.

So what are you waiting for? Migrate all your billing and invoice processing systems to online billing software and shift your focus on growing your business. Online billing software will not only take the burden of managing bills and invoices off your shoulders but will ensure a more efficient, accurate and time-saving process.

Project Management Relies on Smart Time Tracking – Find out why

No project management can be a success without effective time tracking and management. It is crucial to plan timelines and deadlines, and stick to them to see a project through successful completion. Optimum utilisation of project management and time tracking software can take away major stress off your shoulders.

Project management software with time tracking mechanism enables professionals to not only pan out their projects but keep them going as such. Getting distracted and delaying tasks happens to the best of us, but time tracking software can save the day whenever these unwanted delays hit. Time tracking ensures that you do not fall off the deadlines, and bounce back from every little distraction. Let us look at how project management can be enhanced greatly with time tracking:

1: Easy Resource Allocation
Not all departments work the same way; some require extra help on certain aspects. For example, accounting tends to require more people during tax season and technical teams on deployments. Project management time tracking software keeps a check on your workforce and makes a note of the value addition of each employee.

With project management software with time tracking, you have the productivity data for every employee. So, when another department seeks manual labour the most, you can map them accurately without disturbing the balance of other departments. This is extremely helpful for departments looking to take up heavy projects that require more effort than usual.

Also Read: Time Tracking Software For Small Businesses

2: Productivity Boost
Each individual can supervise themselves for each project with project management software with time tracking. Setting yourself up for success becomes necessary especially in the work from home scenario. Every employee needs to be constantly in touch with the progress they are making and managers need to ensure they have the right tools for a productive and conducive atmosphere.
Time tracking software is one such tool that drives users to attain goals well in time. With constant reminders and daily checks, every user can step back and analyse their productivity for the day.

3: Ready to Go Reports
Smart time tracking with project management software is a sure-shot way of recording timesheets without any extra effort. The time tracker instantly records your progress and work for each task, and creates professional-looking reports for the same in a jiffy. Not only do you have a ready-made log of all activity for a particular task, but you can categorise tasks for a project and record the overall progress. With this, you have the added ability to manage projects efficiently.

Moreover, you do not have to worry about inaccurate timesheets filled out by employees. You can generate daily reports for each task or reports per project to keep track of your progress overall.

Also Read: How Time-Tracking Software Can Increase The Productivity of Your Business?

4: Analyse and Improve
Time tracking software captures the hidden nuances of work culture at your workspace. What are the times your employees usually take a break? What kind of tasks takes the most time? Or, what are the distracting hours of a day? All this data can be easily accessed from time tracking software.

Upon this data, you can perform powerful analysis and understand the behaviour at your workplace. For example, if you find that a lot of your employees are taking breaks during a technical task, you can try to break down that task into multiple threads. This will encourage employees to work more in a given timeframe. Or, if some of your employees are working through lunch breaks, you can compensate them with incentives.

Efficient time management has long been a secret to success for major corporations. With simple project management software and time tracking software, small businesses can access the doorway to sustainable growth without emptying their pockets.

Top Strategies to Make Every Business Project a Success

The way you handle projects daily has a direct impact on your growth as a business. Project management is a tricky business as every new project comes with its challenges and bottlenecks. And, there are no shortcuts to creating successful business strategies. More often than not, best business strategies entail thorough involvement and upkeep on the go. To ensure your growth as a business, here are some successful business strategies:

1: Set Clear Goals
When it comes to project management, the goals or milestones you set in place are the guiding light for everyone involved—employees, clients and all stakeholders. Since goals are a foundational aspect of ensuring a successful project, clear goal setting is one of the top successful business strategies.

Jot down all the requirements and necessary information as soon as you bag a new project. Define the goals with four main phases: initiation, planning, execution and closure. These four can be used as talking points when setting up a new business strategy for a project.

Also Read: Looking to the Future: Preparing Your Business For Success or Failure

2: Generate Awareness about Expectations
Once you have a definitive goal, it is important to loop in all involved and tell them exactly what you expect of them. Half of the work involved in project management is managing the productivity of employees. A sure-shot way of messing up a project is by having vague expectations of your team members. Make sure everyone in your team is aware of the deliverables and workload required to make the project successful.

3: Make a Plan
One of the most important aspects of successful project management is planning. Some would even argue that the best business strategy is effective planning. If you have your goals set and a team onboard then all you need is an action plan to drive the success home. To plan well, you need to create detailed timelines for each of the milestones you have set out to achieve. Address each resource your team will require in the action plan and create a thorough channel of responsibility for every task. So, even if you get derailed, you have one or more people looking to make it work as early as possible. Include deliverable dates and add a delay window as a cushion before your actual deadline.

4: Create Channels of Healthy Communication
They say, “When the going gets tough, the tough get going.” During a project, you will find yourself in tight spots where things are not working out and more than one team are facing bottleneck situations. During this time, it is extremely important to have channels of healthy communication set in place as you would not want your team members to panic. You need all those on board to have a group they can rely on to get out of the tricky situations most professionally and healthily as possible.

Also Read: How to Plan Your Business Growth After And During a Recession?

5: Be Aware of Risks Involved
Contingency plans are a must-have for any business, no matter how big or small. When you are going through a crisis, you would not want to back out due to small risks. You need to mitigate as effectively as possible and come out unscathed. So, ensure you know all the risks involved in a project. Think of the worst situations before starting a new project and create plan Bs wherever you can.

6: Analyse Completed Projects
Every project offers valuable lessons. Every crisis paves a way for growth and brings forth a solid footing to develop better business strategies. So, once you complete a project, always evaluate your strengths and weaknesses without sugarcoating.

In the process of growth, budgets will always be a soft spot for small businesses. Business expense tracking and billing software for business can save the day with accurate data and analytics. Make sure you make use of these free tools to implement the best business strategy for your business.