Running a company is not just about acquiring leads and selling products – it also involves tons of accounting behind the scenes. From invoicing to cash flow to bookkeeping, smart accounting can streamline business operations for a variety of industries, including real estate, insurance, and finance.
Integrated accounting can help you automate processes and increase scalability. Not only does Phonexa’s Books360 put all your transaction data into an easily manageable system, but it seamlessly integrates with other Phonexa’s marketing solutions – LMS Sync, Call Logic, E-Delivery, Cloud PBX, Lynx, Opt-Intel, and HitMetrix – to create an all-encompassing platform for all employees.
The accounting ecosystem may be complex, but one piece of software does most of the work: an invoice generator. Among other things, an invoice generator helps create invoices automatically from ready-made templates.
Read on to learn more about invoice generators and how one can alleviate your accounting pain points.
What Is an Invoice Generator?
An invoice generator does exactly what its name suggests.
- On a basic level, an invoice generator automatically generates invoices for the products and services you sell, allowing you to keep track of your transactions, interact with your customers, and calculate the taxes you need to pay.
- When integrated with a suite of marketing and accounting software, an invoice generator becomes an integral part of a system aimed at automating, scaling, and customizing your business to adjust to market demands and ultimately grow your ROI.
How Does an Invoice Generator Work?
An invoice generator provides you with customizable invoice templates that you can change depending on the details you want to include. After filling out the details, you can send your invoice to the customer, save it for reporting, or both. It truly is as simple as that.
A more advanced suite of software can help you automate payments and customer invoices, receive timely invoice adjustments and reports, set your payout preferences, and integrate with your other software.
Do You Need an Invoice Generator?
A few customers may not push you to the edge, but as the numbers grow, you will realize that automation is king when it comes to processing invoices. Numbers don’t like: accounting is a crucial area for automation – ahead of marketing, sales, and customer service – whereas the most important skill for modern-day accountants is technology literacy.
You likely need an invoice generator if:
- You want to automate and scale. Even small-scale businesses can benefit immensely from accounting software, let alone companies processing hundreds and thousands of orders daily. An invoice generator will allow you to handle invoices faster than if you process them manually. The more customers you have, the more critical automation, scaling, and customization are for your business.
- You already have marketing software. Companies like Phonexa provide account software for free for all users of their software suite. If your company provides such a solution, make sure to utilize it to its fullest potential.
- You want to grow your bottom line. Accounting software doesn’t grow your ROI directly, but it can take the stress off your accountants trying to handle an increasingly growing number of invoices.
Equipping your business with an invoice generator and accounting software alike is a must if your customer base is growing. Ultimately, by automating and scaling your company’s accounting operations, you leave your accounting team fresh for tasks that can only be handled manually.
Major Benefits of an Invoice Generator
1. No Paperwork
If you haven’t moved away from stamps and envelopes, you may desperately need to digitize your invoices. Not only do paper invoices occupy space, but they can get damaged, lost, or faded after a few years. And then you may be caught off guard when you least expect it.
On the contrary, digital invoices can be securely stored for as long as you want while occupying no space except for a few digital gigabytes (you can store any amount of data safely on web servers). Besides, you get an extra layer of SSL protection when communicating with your clients by using an invoice generator.
With every financial detail available to all team members, accounting becomes fully transparent and keeps everyone on the same page.
3. No Strings Attached
You don’t necessarily have to pay for an invoice generator, as there is plenty of free software on the web.
However, free invoice generators may not include advanced functionality, but even a limited edition may be enough. Keep in mind that you will not be spared from transaction fees – for example, a fee for an inbound bank transfer – and other related payments.
Humans are prone to mistakes, whereas software works like clockwork. Automating your accounting will eliminate the element of human error, allowing you to maintain good customer relationships and feel safe when tax time comes.
Whether your business operates locally or internationally, you can benefit from a multi-currency pool included in invoice generators. Sending and receiving payments in multiple currencies eliminates exchange fees and allows you to reach customers willing to make payments via different currencies.
Being able to pay an invoice without contacting the company is a key benefit that customers love most, as it saves time by allowing users to avoid having a personal conversation. Likewise, your customers can keep track of their financial activity independently. Together, these features strengthen your relationship with customers, improve the customer journey, and enhance your brand image.
You can embed your discounts, special offers, and other perks in your invoice so that the recipient doesn’t have to worry about the hassle of searching for these perks on their own.
8. Round-The-Clock Access
You can manage your client data on the go and anytime you want, without having to make it to the office.
9. More Customers
Customers love when their requests are solved quickly. A swift operation will undoubtedly boost your brand image so you can acquire and convert more high intent leads.
10. Saving Resources
Paper invoices are way more time-consuming than digital. With templates at hand, you can choose the best look for a particular case. Invoice software makes you more organized, enabling invoice processing at the click of a button.
11. Reinforcing Your Brand Identity
Your company name, logo, color scheme, fonts, and other elements of your brand identity reinforce its message and help customers remember your brand. In addition, you are more likely to get paid on time. You can upsell, add helpful links, and spruce up your communication the way you want.
Centralized storage of receipts, invoices and other financial documents simplifies auditing, which is especially valuable during the tax season.
Automated Accounting to Grow Your Business
Up-to-date accounting software can take your business to the next level through:
- Automated payments, invoice alters, and recordkeeping
- Tracking your cash flows
- Choosing preferred payout methods
- Customizing your invoices and interface for a better customer and user experience
- Integrating with other marketing software
Integrated solutions are essential for bringing all accounting processes to a uniform system that can be accessed by all members of your team. With no manual labor, no cumbersome reports, and no human error, automated accounting solves all pain points and gives you the peace of mind you deserve when streamlining operations to increase scalability.