When it comes to creating custom software, you can add almost any feature that your business would benefit from. Something that all businesses need to manage is their invoices and accounting. For this reason, we highly encourage you to think about adding a customised accounting solution to your new custom software system. Alternatively, the accounting software package you currently use could be integrated via an API.
Who could benefit from custom software for invoice management?
Here at BSPOKE Software, we believe that any company that invoices clients on a regular basis could benefit from custom software. Invoicing is often one of the worst parts of running a business and frequently causes frustration for company owners. You have no doubt experienced the annoyance of customers not paying on time. With custom software, processes can be put in place to monitor and automate chasing up unpaid invoices.
Custom add-ons for your software
The great thing about commissioning custom software is that you can add anything you require to your system. We can discuss the add-ons that would be most useful for your company and their benefits. As well as this we can work with you to ensure your custom software overcomes any issues you face as a business owner.
Benefits of custom software for invoice management
There are many benefits of using custom software for your invoice management and other accounting needs. Here are just a few:
Improves efficiency
If you are sick and tired of wasting endless hours on accounting and creating invoices, you’ll find that custom software can speed up this process. You can add features that will automate the process from start to finish, meaning you barely have to do anything to invoice your clients. Technology is generally much quicker than doing things manually. Therefore you can just input the data and let the software do the rest of the work.
Reduces the chance of human error
When it comes to dealing with figures and money, one of the biggest concerns is always making sure everything is correct. Making errors with your invoices and accounts can wreak havoc for your business, resulting in huge losses that you can’t afford to make. Businesses of any size need to reduce human error to ensure they aren’t wasting any money, and custom software for invoice management will be one of the best tools to help you with this process.
Save your team time
Writing out endless invoices is no doubt not your favourite thing to do. Custom software can create workflows that monitor and speeds up routine tasks. On top of this, alerts can be set up to inform you when payments are overdue. Payments for invoices issued in a timely manner are much more likely to be received.
Financial monitoring and planning
Financial reporting is a feature you may want to consider adding to your custom software, especially for end-of-year processing. Always know where you stand financially using reports to document various financial events. As a business owner, you have certain legal obligations with regards to finance and custom software can ensure you meet them.
Quicker data processing
Software is almost always a quicker option for invoicing and accounting, even when you have an experienced team. Your new custom software will make creating invoices quicker and can take care of many other parts of that process. Instead of having to spend hours looking for information, it can draw upon a database to find it. You’ll also find that this database can store links to associated files. Visibility of paid invoices and whether you need to chase up any late payments will be clear. The more parts of the invoicing process that you are able to automate, the more time you will save.
Final thoughts
Creating custom software with invoice management is something we recommend for any business owner. So speak to us about how we can build this directly into your new software system. Alternatively, we can utilize your existing accounting package, such as Xero, Sage, or Quickbooks to create a complete system. Contact our team at BSPOKE Software today for an informal initial consultation.
