When you first start your web design company, billing may be pretty straightforward. You get a few clients, send them invoices, and the money rolls in.
But in order to scale, you need a system that will support your growth. 80 percent of small businesses struggle with receiving client payments on time. As your business becomes more complex, so will your billing and invoicing requirements.
Here are four benefits of a billing management system for web design companies.
1. Cloud Storage Ensures Nothing Gets Lost
If you’re still keeping track of everything on paper, you aren’t just hurting the environment. You’re exposing yourself to an unnecessary amount of risk.
Even if all your billing and invoicing data are stored on a personal hard drive, it’s not enough to secure that data. Computers crash and paper documents get lost or thrown out by accident.
When all your billing data is backed up in the cloud, you can access it whenever, wherever. You don’t have to worry about losing it in a catastrophic event, either.
2. Billing Becomes Fast and Easy
Creating invoices manually is a hassle. Even if you have a template, it doesn’t make sense to have to input data by hand every time.
With billing automation, you can generate invoices and statements without any legwork. Your invoices will be consistent, and your web design clients will have an easy way to pay you electronically.
At the end of the day, getting paid on time is the most important goal of implementing billing management software. Many small businesses don’t get paid on time. One study by the National Federation of Independent Businesses found that about 64 percent of the small businesses surveyed had clients who didn’t pay invoices for at least 60 days.
3. A Billing Management System is More Secure
When sensitive data and funds are changing hands, you can’t be too secure. Relying on paper checks and recording credit card numbers over the phone are both high-risk ways of getting paid.
As a B2B transaction, billing for web companies must be facilitated and secured by the latest technology. With a billing management system, every payment can be enacted in a secure environment.
4. It Reduces Errors, Mistakes, and Disputes
If one of your staff members makes an error on an invoice, it can be costly. Not only could you receive the wrong payment from a client, but the mistake could also lead to a dispute over the transaction.
Monetary disputes can sometimes be settled in-house. But in some cases, you may need a lawyer.
Furthermore, errors can delay the payment process. You must wait for your documents to be corrected and resent before your client can begin processing them.
With a billing management system, the risk of error is greatly reduced. If you have clients on retainer, you can generate invoices automatically every pay period.
Invest in a Billing Management System for Web Design Companies
As with any industry, a billing management system for web design companies can streamline the invoicing and billing process and reduce risk dramatically. If you’re still reliant on a pen and paper system, you have an opportunity to save time and money, and to increase your security.
Find out how our multi-use software can help with your billing management needs.