From brick-and-mortar retailers to freelancers- the ecosystem of the online marketplace has become really competitive. Attracting as well as retaining the customers and clients has become a bigger challenge. Amid this situation, you do not want to waste your productivity in making invoices for your customers. As a merchant, you will have to make the ambiance more convenient for your customers, and at the same time, you will have to focus on increasing productivity. We at Rapidcents truly understand the requirements of the current merchants. This is why we have brought a great option for you. Yes, we are referring to online billing and invoicing.
Now, if you do not have a good idea about this great tool, you will not have to worry. Here, we will be covering the important aspects of online billing and invoicing.
Know More About Online Billing And Invoicing
Standing in this modern era, we can clearly say that online billing and invoicing is the true future of invoicing. There are so many reasons that make online billing and invoicing better than traditional paper invoicing systems and PDF invoices. Although it has some limitations, the advantages outnumber the cons at any time.
Most people often get confused between digital invoices and online billing and invoicing. Both these things require an electronic device, but, there are differences. If we specifically talk about online billing and invoicing, it is actually created in the invoicing system of the seller. Well, it is actually generated in a web-based form. From there, the merchant can directly send the invoice to the buyer. Apart from this, the merchant can also download the invoice file.
The basic characteristics of online billing and invoicing are as follows:
- You will get invoice data in a structured way. It will be in the Edi or XML format.
- The invoicing software will automatically generate an invoice. The merchant will not have to input data manually.
- The invoice data is issued using web-based forms in a structured manner.
Benefits Of Using Online Billing And Invoicing
By now, you have understood what online billing and invoicing are. Well, if you have not yet started using this advanced service, you are completely lagging behind. Anyway, here, we have explained some top benefits of using online billing and invoicing.
Save A Lot Of Time: If you choose online billing and invoicing, it will save a lot of time of yours. In the case of generating a normal invoice, the merchants need to follow a lot of steps. Well, in the case of online billing and invoicing, those steps become unnecessary. The e-invoicing software does the whole thing. It ultimately saves a lot of time and along with this, you can boost your productivity.
Reduce Business Costs: Online billing and invoicing is completely paperless. So, you do not have to spend a single penny on postal fees or paper. Apart from this, you do not have to manually send the invoices over mail. You do not need to invest time in arranging the invoice data and including an attractive template. On one side, it will reduce the overall business costs and on the other side, it will save your time. As a merchant, you can use this time to improve other aspects of your business.
Reduce Human Error: Basically, advanced online e-invoicing software does online billing and invoicing. You do not need to include anything manually. It ultimately reduces human errors. Moreover, the invoice will not get lost in the mail. In the end, you will get the correct and desired outcome.
Provide Better Customer Service: Another advantage of using online billing and invoicing is that it provides better customer service. The customers will basically get the invoices on their favourite platform. According to a report, receiving invoices in the mail instead of in paper form saves processing costs up to 90%. Moreover, it does not take much time to deliver an e-invoice to the customer. As a result, the consumers can also take advantage of discounts for making early payments.
Get Paid Faster: This point has a connection to the previous one. As it does not take much time to deliver the e-invoice to your consumers, it means that you will get payment faster Moreover, the entire thing is happening online and so, it is quite evident that you will receive payments in online modes. It makes everything faster. You do not have to wait for hard currency and then, you do not need to visit banks to deposit that payment. You will also get a higher degree of insight into your invoicing process.
Not A Rapidcents Merchant?
In order to enable online billing and invoicing, you must have a merchant account. In this regard, you should visit Rapidcents that is, no doubt, one of the most reliable merchant processors. You will get 24×7 support from them. The platform provides services like online billing and invoicing, virtual terminal, recurring payments, and many more. So, do not wait; hurry up and join Rapidcents today.