Over the past few weeks we talked about how great online invoicing is and how much money you can save by including it in your business. What we didn't discuss is just how much exactly is your using the now outdated methods of managing invoices costing your business. Paper invoicing is considerably more time consuming, and like we already mentioned, it can cost extra in office supplies, that we already covered. There's another very important aspect of paper invoicing that we haven't talked about, and that is how using paper invoicing can even cost you potential clients, for several reasons.
Most businesses have moved on, and so should you
Online invoice management, or e-invoicing for short has been with us for quite some time now and there are a lot of companies out there that have switched to it. Most of them switched to online invoicing for all the same reasons that we mentioned up until now, it's faster and cheaper to do business when using online invoicing. The problems that might come up if you continue insisting on using paper invoicing is that other companies might find it impractical to work with you, seeing how they have to process paper invoices.
Now true, if the goods and services that you're selling are something that can't be gotten at the same prices that you're offering somewhere else, if you hold a monopoly on the market, so to speak, then your business is assured. But if companies can find what you're offering for the same or even cheaper prices somewhere else, then you run the risk of losing your clients to competition, if they can process their invoices faster and close the books on their finance.
You might lose work that "requires" you to have e-invoicing
Another thing that might be hurting your business is that some businesses will require you to send them an invoice using either email, or some other modern method method. They might not even have the means to process paper invoices, which will be causing your problems on the long run. You won't be able to find work with picky companies and businesses that aren't gonna take your seriously when you tell them that the invoice will come via mail.
E-invoicing has gone to such lengths that there isn't even a service that lets you network with your clients, you can setup a social networks and send invoices directly to clients as a social network updates. Basically you need to be keep up with the times and make sure that your business doesn't lose clients due to outdated methods of doing business.
Time and again it has been shown that you will need to keep track of the latest market trends to maximize the performance of your business. Upgrading your invoicing to a hosted invoice manager is one of those things that you will need to do. Make sure to checkout IntroBills. It costs you nothing, but it has all the potential to save you a lot of time and money that you would normally lose if using paper invoicing.