Billing software is a tool for creating bills against the services & products you are offering and managing your business accounting. Using billing software you can do a lot of activities on a single dashboard and do not need to depend on multiple excel sheets for bookkeeping. In this article, we will discuss what are the advantages of billing software.
Before moving forwards let us first understand which types of businesses should be using billing software.
In the old times, all business processes were managed and recorded on paper. For a growing business in today’s modern world, the business needs to do a lot of online and offline activities. Starting from making marketing strategies to dispatching the final goods to customers. It becomes very important to have a record of everything at every step.
For such growing businesses, whether you are a retailer, distributor or manufacturer you must use billing software for your business. Billing software may not ensure your business success but it certainly streamlines all business processes so that you get time to focus on your business’ success.
As a business owner, your primary goal is to increase the cash flow and so, you must think of using billing software. Billing and accounting software helps you generate invoices quickly and receive payments in due time.
You can keep track of your business expenses and send professional invoices to your clients directly from the software. You can also send auto-reminders to customers for payments. Also Read Other Related and Useful Blog: E-invoicing under GST
Apart from this, there are many other benefits of accounting and billing software. Now let us discuss what are the advantages of Billing Software that will help you automate your business operations.
Using a traditional approach to creating bills takes too much time and is also a frustrating task for employees.
Billing software reduces the workload and helps in saving time. The software is also easy to use even for a non-accounting background person. Your employees don’t need to be trained to use the software, that’s one of the benefits of accounting and billing software.
- Easy & Fast Billing in Minutes
Needless to say, manual billing is a tedious job and time-consuming. Verifying each transaction from the ledger could be a challenge. Easy billing is one of the major benefits of billing software.
Billing software lets you generate multiple invoices in a few minutes. You can simply scan the barcodes and the details of the products are added automatically. You are also rescued from all the complex calculations.
- Faster & Instant Payments
One of the most important benefits of billing software is that it makes your payment processing easier. Other than that, it allows you to collect payments via multiple payment modes online or offline.
You can experience banking inside your ERP and features like auto-bank reconciliation, same-day settlement, and more. The billing software also enables you to generate purchase orders, credit memos, budget estimates, and more.
- Streamline Business Operations
At times, you may skip looking out for the pending invoices, in such a situation you need to be aware of that. And your billing software does exactly the same. You may also schedule auto-reminders for clients from the software. It will send auto-reminders to clients and will alert you as well. Auto-reminders, Scheduling are again very important benefits of billing software
Overall billing software reduces your burden and helps you create professional invoices with your brand identity. Moreover, it ensures 100% error-free calculation and GST numbers.
- Cloud Storage
Cloud storage is one of the major benefits of accounting and billing software. As a business owner, you should be worried about the storage space for your growing business.
With the option of cloud storage, you never have to worry about losing invoices or data. You can easily take the complete backup on the cloud in 1 click. It’s that easy.
- Enhanced Security
One of the major benefits of billing software is it is extremely secure. Having all your records in the system reduces the risk of data theft or paper misplacing. You also get free office space as there are no piles of files stacking at your office. Apart from this, you get 7-layer protection in Marg software from ransomware and other virus attacks.
You also get high-level security since it adheres to PCI standards. It helps increase your customer’s confidence in payment processes and business.
- Multi-currency Feature
As we are fundamentally living in a global village today. Thanks to technology, a person sitting in the UK can bill a person in Australia. Because of these emerging technologies, billing software allows you to bill in multiple currencies and in the preferred language.
This feature makes it possible for customers to pay at their convenience and is one of the best benefits of accounting and billing software.
- Error-free & Quick Audits
Another one of the most important advantages of billing software is that it lets you create 100% error-free invoices. All the complex calculations are taken care of by the software itself, you don’t have to worry about the GST, any discount, or any other calculation.
Chances of human error are also negligible. It also helps you stay compliant with taxes and other government norms. Plus you also get features like internal audit, which helps you run an internal audit before the filing of actual tax returns. Billing software eases your work by simplifying auditing and tax compliance.
- Save Money
One of the major benefits of billing software, that every business owner is looking for is saving money. Having software installed at your place will help you in cost-cutting. You will not need to have extra employees on board, plus it also saves the money spent on stationery items.
The software also doesn’t need any maintenance, you can just purchase a one-time software and you are good to go.
- All in One
Out of the many advantages of billing software, one is it is an all-in-one software. But be clear here, all software available in the market doesn’t provide you with all one solution.
Instead, software like Marg ERP is the complete solution. Starting from billing to delivery you get everything. Easy- Inventory, Accounting, Purchase, Billing, Online Payment, Integrated Banking, Mobile Apps, Auto-Reconciliation, Delivery & more are the advantages of billing software. You name it and you will get it in Marg ERP.
The single dashboard provides everything in one place. You don’t need to surf or access any other software or jiggle between multiple screens. You can also customize your dashboard as per your requirements.
Summing it UP
In the current scenario, a lot of billing and accounting software is available. The business owner can choose the software according to their specific requirements.
Hope this article has given you complete knowledge about what are the advantages of billing software, you can take a call on which software fits your requirements the best. If you have special needs, you should go for software with customization features. Always select the best billing software that will reduce your expenses of time, money & effort.
If you are willing to leverage the 10 benefits mentioned above, you can have a free demo of Marg Billing Software and invoicing software to explore the amazing benefits. Marg is one of the best billing software with the latest features that makes your billing and accounting easy & fast.