Getting paid by your customer is one of the most important aspects of doing business. At one time, this process may have been error-prone and arduous. You might have had no choice but to send each invoice individually.
However, technology has come to your rescue. Thanks to invoicing software, you can easily set up bulk billing, benefiting both your company and your customers.
Benefits of bulk invoicing
Before we dive into how you set up bulk invoices, you need to understand just how many advantages they can bring to your operations. Obviously, automating the process and sending bills out all at once saves you tons of hours of manual labor. It also reduces the chances that you will make costly errors, resulting in a decrease in disputes with your customers.
Boosting the efficiency of your billing procedures also means that your invoices will be sent out more quickly and with fewer mistakes. Consequently, you will gain faster access to your money. Meanwhile, your staff, once burdened by the drudgery of manual tasks, can now be free to focus on more business-centric jobs.
Customers are noticeably happier and more trusting of your company when bills are timely, clear, and accurate. They also appreciate receiving confirmations and overdue statements consistently and as expected. As customer numbers increase with business growth, your bulk invoicing software effortlessly expands in kind, allowing you to handle higher volumes with ease.
Setting up bulk invoicing
Before sending out your first batch, you need to understand your own business and its needs. Consider factors such as invoicing volume, recurring billing needs, the information you want to include, and what other systems you already use that should be integrated.
Next, devote solid research to choosing the right invoicing software. Look for features like customizable templates, recurring billing capabilities, automated payment reminders, reporting, and payment gateway integrations. Prioritize software that is affordable, easy to use, can grow with your business, and connects seamlessly with your existing tools.
If you want your clients to receive an invoice that is easy to read and consistent, using professional templates is an excellent idea. Most bulk invoicing software possesses this feature and lets you add placeholders for client names, services, quantities, rates, and due dates. These can be configured to populate automatically when you create the invoices.
Now it’s time to connect your software with the other systems that you use. These may include packages for accounting, customer relationship management, and payment gateways. Doing so will allow you to take care of your books, accept credit card payments, and keep your customers happy and engaged.
For each batch, determine vital facts such as regular billing cycle length (e.g., weekly, monthly, etc.). Then create rules for which clients or services should be included in each batch. Once you have imported client data and ensured that it is accurate, generate an invoice. Always review the draft before you send it for accuracy.
All that remains is to automate the processes for sending invoices and reminders. Your invoicing software should contain capabilities for these tasks.
Implementing bulk invoicing adds efficiency, time savings, flexibility, and scalability to your business. When bills are dispatched consistently and predictably, client satisfaction rates also rise. If you have not already begun to implement bulk billing, talk to your payment services provider today to get started.
North is a leading financial technology company that builds innovative, frictionless end-to-end payment solutions designed to simplify and grow businesses of all sizes. From the front door, to the back office, the developer world, and partnerships that expand the payments landscape, North offers proactive, comprehensive merchant services, in-house processing, and more.
