Digital invoicing is the delivery and payment of invoices for your business using electronic systems that allow customers to view and pay their invoices online using any internet connected device.<\/p>\n
The introduction of digital invoicing has changed the way people pay for goods in the home and its now becoming the norm that customers want to pay using their mobile device and receive electronic confirmation of the transaction.<\/p>\n
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When we look at the trends in business today we see an increasing number of small business turning to digital invoicing (also called electronic invoicing) as it provides a more reliable and time efficient business model and increases customer satisfaction.<\/p>\n
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Here are some compelling reasons to move to electronic invoices.<\/strong><\/p>\n <\/p>\n <\/p>\n Manually creating ad sending invoices is very time consuming and if yo have a business that tends to send a larger number of small invoices, the cost and time associated with invoicing will probably be disproportionately high.\u00a0 To improve your business efficiency and reduce low value effort then you need to start sending digital invoices as soon as possible. \u00a0You need to create the invoice, ensure its accuracy, print it, send it to the buyer, wait until the payment is made, and, then, enter the payment into your servers. E-invoicing, on the other hand, bypasses the hassle associated with traditional invoicing.<\/p>\n Check out your options for sending digital invoices, but also consider the bigger picture associated with repeat custom and referral marketing.\u00a0\u00a0 So be sure to choose a product that\u2019s both cost effective and increases your business traction.\u00a0 By leveraging an existing marketplace like Nubilo you can save time sending great looking digital invoices and at the same time increase your customer reach, referrals and gain insightful feedback from every customer transaction.\u00a0\u00a0 You can also automatically remediate payments, follow up on overdue invoices and track your income with a simple to use dashboard.<\/p>\n <\/p>\n Keeping your business costs to a minimum is an important way to maximise profits and ensure that you get the most out of your business. \u00a0The cost of printing and mailing paper invoices, and the cost of time to mange them can be a slow death for a business with lots of small transactions, such as a window cleaner or servicing business.\u00a0 It\u2019s important to use a tool that helps you get paid faster but costs you less.<\/p>\n <\/p>\n Analyse how much time you are spending each week producing invoices and if its more than an hour, then you aught to think about invoice automation and using digital invoices to reduce costs and improve efficiency.<\/p>\n <\/p>\n There are plenty of electronic invoice tools out there in the market. But we recommend finding one that tracks you payments, automatically sends follow ups for later payments and one that includes a customisable customer portal that gives your customers a single pane of glass to see their spending history, mange payments and order more services.\u00a0 Nubilo does all this for you.\u00a0 Check out our invoicing tools here:<\/p>\n https:\/\/www.nubilo.co.uk\/businessDemo\/invoicing<\/a><\/p>\n <\/p>\n <\/p>\n Any task done by hand can be prone to errors, and that also applies to creating invoices by hand.\u00a0 Inputting the correct customer details and job specifications are not only time consuming but also prone to error.<\/p>\n <\/p>\n Traditional invoices require a lot of data entry and In addition to being very time and effort consuming, this process gives a large room for human error. Switching to e-invoicing is the best solution to prevent any human errors, with the added advantage of being more efficient.<\/p>\n Be sure to choose an electronic system that is tied to a Customer Relationship Management system to keep a catalogue of your customer names and addresses and job history. This will allow you to save time with inputting your customer data by automatically inputting the customer information from a database.\u00a0 You could use mail merge tools and excel to do this, but it starts to get complicated very quickly, so we recommend a dedicate Customer Management and invoicing systems that is designed for the job.<\/p>\n <\/p>\n A huge benefit of electronic invoices is that they give you the ability to access from anywhere, using any of your smart devices.<\/p>\n You get to track the status of the invoice, with some types of software even enabling you to know when your buyer has opened the invoice. You\u2019ll receive the payment as soon as it\u2019s been made, and you\u2019ll be able to generate reports and analytics about your finances periodically.<\/p>\n All of these features allow you to continue to develop and optimise your business. Helping you get paid faster and more efficiently and allowing you to produce customised reports that show if you are successful in achieving your targets for growth and income.<\/p>\n Keeping track of invoices and knowing if some of your customers are not paying your promptly is also an important way to know who your good customer are and who might be bad customers.\u00a0 Nubilo not only tracks your invoice payments and automatically remediates your payments against the invoice, but also provides you a payment speed indicator that helps you understand if a customer is paying you promptly or is repeatedly slow to pay you.,\u00a0\u00a0 This can help you make decisions on commitments you are making to bad paying customers.<\/p>\n <\/p>\n <\/p>\n <\/p>\n Many of your customers will buy some of your products but may not always be aware of the range of service you provide and so you could be missing out on opportunities to get additional work from many of your customers.<\/p>\n The invoice is a correspondence that your customers are expecting to have, and they will often keep a copy in their files.\u00a0\u00a0 This makes the invoice a great platform for warm marketing by gently making your customers aware of your additional services.\u00a0 One way to do this is to show a list of your services at the bottom and highlight which ones your customer has used, thereby showing which services they are not utilising.<\/p>\n Cross selling by offering promotions for your other services within the invoice is also a great way of getting additional revenue and increasing the value of each of your customers.<\/p>\n Electronic invoices are a great platform for cross selling as you can provide images and links to your additional services and offer immediate discounts if your customer refers you or reorders from you.<\/p>\n Nubilo offer some fantastic tools for electronic invoicing and cross selling comes as standard. Check out our invoicing tools here :<\/p>\n https:\/\/www.nubilo.co.uk\/businessDemo\/invoicing<\/a><\/p>\n Knowing what products or services your customers sell is a powerful insight in increasing sales and cross selling.\u00a0 Using an electron invoicing tool that is linked to a Customer Relationship Database \u00a0(CRM) is the simplest way to gather information about your customer sales and identify opportunities.\u00a0 Nubilo has a customer dashboard that shows which services they are consuming along with insights on their engagement level and payment behaviours that could allow you to greatly increase cross selling opportunities and grow your business with your existing customer base.<\/p>\n Check out our business feature demo<\/p>\n https:\/\/www.nubilo.co.uk\/businessDemo\/customers<\/a><\/p>\n <\/p>\n As a small business, you know that the reconciliation of your customers\u2019 invoices is one of the biggest struggles you face.<\/p>\n Customers don\u2019t always pay invoices on time, or occasionally they will pay several invoices at once, and if they don\u2019t pay in full it can be difficult to reconcile the payments against an individual invoice. Customers can complain about damaged goods, quality or speed and choose to withhold partial payment, so its useful to have a system that that gives them less options for creating confusion.<\/p>\n With an e-invoice system, you\u2019ll have a single place from which you can monitor every customer, along with their payment and transaction history.\u00a0 It can save you hours every week trying to figure out which invoices have been paid and which are overdue. \u00a0\u00a0\u00a0Having a mature invoicing system increases your efficiency and customer service which builds trust with your customers and increases repeat sales.<\/p>\n Electronic invoicing is one of the best ways to eliminate waste and improve the environmental impact of your business.<\/p>\n Printing, carriage and waste disposal all burn carbon through the production of paper and fuel used to transport your materials and posted invoices.<\/p>\n All the printing, papers, and resources that go into creating the invoice will be eliminated, which directly translates into a reduced\u00a0carbon footprint.<\/p>\n <\/p>\n The switch to electronic invoicing is one of the growing trends for all small businesses for good reasons. Not only does it provide your business with a more efficient and cost-effective way to operate, but it also gives you better control of your invoices and leverage more sales from your customers. Furthermore, it enables you to reconcile your accounts better, delivering better customer service in the process.<\/p>\n <\/p>\n I hope you enjoyed this Article.\u00a0 There are loads more like it to come as we follow the development of Nubilo.<\/p>\n <\/p>\n Nubilo is a \u201cHome Services Marketplace\u201d where you can manage your home or develop your home services business. Nubilo provides Property Asset Management tools for simplifying the management of your home, and Business Management tools to help small businesses grow.<\/p>\n <\/p>\n Check out the Nubilo Blog and Help pages for all the latest information on the evolution of the Nubilo Marketplace: https:\/\/www.nubilo.co.uk\/blog\/<\/a><\/p>\n Checkout our Latest Articles for tips and tricks to manage your home better: https:\/\/www.nubilo.co.uk\/articles\/<\/a><\/p>\n <\/p>\n1.\u00a0\u00a0\u00a0 Improve Your Efficiency<\/h2>\n
2.\u00a0\u00a0\u00a0 Reduce Business Costs<\/h2>\n
3.\u00a0\u00a0\u00a0 Avoiding Errors<\/h2>\n
4.\u00a0\u00a0\u00a0 Improved payment Tracking and Reporting<\/h2>\n
5.\u00a0\u00a0\u00a0 Identify Cross Selling Opportunities<\/h2>\n
6.\u00a0\u00a0\u00a0 Reconcile Accounts<\/h2>\n
7.\u00a0\u00a0\u00a0 Reduced Carbon Footprint<\/h2>\n
Summary<\/h2>\n