Adfin | Choosing the right invoicing solution

Invoicing shouldn’t be complicated or time consuming

For businesses, invoicing is a step towards getting paid - and therefore it should be fun! However, many e-invoicing software solutions still involve complicated and time-consuming processes to create, send, chase, and manage invoices. In addition, much of the time information is being double keyed between the invoicing and accounting software - leading to yet more manual work.

As a result, many small businesses still leave their invoicing management to evenings and weekends - leading to frustration and delaying the opportunity to get paid.

Sending invoices immediately can improve your cashflow

Cashflow management is critical to the success of small businesses.. How quickly invoices are sent is integral to cash flow and therefore the success or failure of the business. Simply, getting paid earlier makes more cash available to pay bills.

Having easily accessible invoicing tools online and via mobile app means that you can manage invoices in just a few clicks. The faster a customer receives an invoice, the faster they can pay it, contributing to overall cashflow improvement.

A high quality digital payment experience gets you paid faster

Over the past decade, online payments have transformed - up to now innovation has primarily been led by the Ecommerce industry. The most successful retailers have invested large sums intooptimizing their payment processing experience. This is because a great payment experience leads to more purchases.

Drawing a parallel to invoice payments - a high quality, tailored payment experience does not necessarily improve the likelihood of getting an invoice paid, but it does make the payer more likely to pay immediately on receipt. A great payment experience means better cash flow management and fewer overdue invoices.

Not all solutions are equal

There are many invoice payment solutions out there. When considering which to use, there are a few key criteria:

Cost: is there a monthly subscription fee and what is the charge for digital invoicing?
Your experience: how easy is it to create, send and manage your invoices with the invoicing software?
Your customers’ experience: How good is the payment processing experience?
Integrations to accounting software: is the tool fully integrated so it doesn’t produce any additional work for you / your accountant?

We’re upgrading invoice payments for businesses and consumers, delivering great experiences with lower fees. Our cloud-based solution offers comprehensive accounts receivable software to streamline your invoicing processes and improve overall accounting software integration.

‍

Choosing the right invoicing solution

Read more

Why getting paid is still a headache: debunking the myths and understanding the problems

Helpbox UK reduced payment costs by 58% with Adfin

How Adfin puts customers first: our approach to support and operations