Stax Bill

Finding the Right Online Invoice Software for Your Business

Serge Frigon

Let’s face it, managing invoices can be as exciting as watching paint dry. But fear not, my fellow entrepreneurs and business owners! Online invoicing software is here to save the day (and your sanity) by making the whole process efficient, accurate, and dare I say it, enjoyable.

In this article, we’ll help you navigate the world of online invoicing, discuss key features to look for in an invoicing platform, and introduce Stax Bill—the superhero of invoicing solutions for B2B SaaS businesses.

What is an online invoice?

Picture this: a digital document that flies through cyberspace to land in your client’s inbox, detailing the goods or services you’ve provided, along with the amount due. That’s an online invoice, folks! Unlike the old-fashioned paper invoices that get lost in the abyss of office clutter, online invoices (or hosted invoices) can be created, sent, and managed electronically, making the invoicing process smoother both for your accounting team and your customers.

With online invoicing software like Stax Bill, you can create professional-looking invoices that make even your most discerning customers swoon. But that’s not all—it also has smart dunning features, allowing you to track payment status, send payment reminders, and accept payments through various methods, like credit card or PayPal. This automation helps businesses save time, reduce late payments, and maintain a healthy cash flow (cha-ching!).

Digital Invoicing vs. Online Invoicing

Now, let’s talk about the difference between digital and online invoicing.

Digital invoices typically refer to electronic invoices created using software like Microsoft Word or Excel (or Sheets, for the loyal Googlers among us). These digital invoices can then be sent to clients via email. But let’s be honest, that’s like driving a horse and buggy in the age of electric cars.

Online invoicing, on the other hand, refers to the use of cloud-based invoicing software that provides a comprehensive suite of features. These platforms, like Stax Bill, enable businesses to create, send, track, and manage invoices all in one place, providing a more efficient and seamless invoicing experience. It’s like going from a flip phone to a smartphone—there’s no going back!

Billing vs Invoicing

Invoicing and billing: two peas in a pod, yet distinctly different. Invoicing involves creating and sending a document that details the products or services provided and their associated costs.

Billing, on the other hand, is the whole shebang: generating, sending, and tracking invoices, collecting and recording payments, and managing outstanding invoices, late payments, and disputes. In summary, sending out invoices is just one part of the billing extravaganza.

Key Features to Look for in an Online Invoicing Platform

Picking the right software for your business is critical. It will be an integral part of your tech stack and, used correctly, has a host of benefits, like:

  • Cutting down time-consuming manual processes
  • Safely and accurately storing customer information
  • Tracking key invoice data
  • Helping you get paid faster

All of these will help optimize business processes, improve both employee and customer experience, and support better profitability and sustainable business growth.

Predefined Invoice Templates

A great invoicing software should offer a variety of predefined invoice templates that are customizable to suit your business’s needs. These templates are like the secret sauce that ensures your invoices look professional and consistent… even if you’re not a design whizz!

Professional-Looking Digital Invoices

The software should let you create digital invoices that look so good your customers might want to frame them. This includes adding your business logo and company name, customizing the layout, and selecting an on-brand font and color scheme that oozes quality and consistency to build trust.

Reliable Invoice Generator

An intuitive invoice generator is the cherry on top for any invoicing software. This nifty tool allows you to quickly and easily generate invoices with just a few clicks. Using a free invoice generator online is tedious and not scalable. Professional software, on the other hand, automates the process. It will populate essential information such as customer details, line items, taxes, and due dates. It’s like magic, but better!

Recurring Invoices and Payments

For businesses that deal with subscription-based services or recurring payments, the ability to create recurring invoices and automate the recurring billing process is priceless. This ensures that your customers receive timely invoices without manual intervention, giving you more time to focus on growing your business instead of drowning in paperwork.

Payment Reminders and Tracking

Remembering which clients have outstanding invoices and payments using Microsoft Excel can be as tricky as herding cats. But fear not! Look for invoicing software that offers automatic payment reminders and real-time tracking of key invoice data, helping your accounting team handle business finances like pros.

Integration with Payment Gateways (e.g., credit cards, bank transfers, Apple Pay)

To make it easy for clients to pay their invoices and for you to see more dollar signs, choose software that integrates with popular payment gateways such as credit cards, bank transfers, and Apple Pay. It’s like a virtual cash register that keeps your business running smoothly.

Best Practices for Creating and Managing Invoices

How to create professional invoices

Creating a professional invoice is like dressing for success: it’s all about making a good first impression. Use your software’s customizable templates, add your logo and business details, and ensure your invoice is clear, concise, and easy to understand.

Tips for managing late and overdue invoices

Dealing with late payments can be as much fun as a trip to the dentist, but it doesn’t have to be. Here are a few tips to keep your cash flow healthy:

  • Set clear payment terms and expectations upfront
  • Send friendly payment reminders before the due date
  • Offer incentives for early payments
  • Implement late fees for overdue invoices (but use them sparingly)

Strategies for getting paid faster

Want to get paid faster than a cheetah on roller skates? Here are some strategies to try:

  • Offer multiple payment options (credit card, bank transfer, etc.)
  • Simplify the payment process with one-click payment links
  • Use payment reminders and follow-ups to keep your clients on their toes

Best Software for Recurring Invoices: Why choose Stax Bill?

Stax Bill is the superhero of billing solutions for B2B SaaS companies. It swoops in to save the day by offering all the features we’ve discussed and more. Here are some reasons why Stax Bill is the perfect sidekick for your business:

  • Tailored to the needs of B2B SaaS companies
  • Scalable solution for small business owners up to enterprises
  • Comprehensive suite of features for invoicing and billing
  • Easy-to-use interface that makes managing invoices a breeze
  • Optimized for use on mobile device, tablet, or PC
  • Integrates with popular payment gateways for seamless transactions
  • Flexibility to add custom fields and tailor invoices at the customer level
  • Advanced reporting capabilities to help you make data-driven decisions

For highly accurate, reliable invoice processing (even with complex pricing strategies, product catalogs, and customer segmentation) Stax Bill is one of the most popular invoice software solutions on the market.

Frequently Asked Questions (FAQ)

How Can I Create professional invoices with Stax Bill?

With Stax Bill, creating professional invoices is as easy as pie. Use the customizable templates, add your logo, input customer details, and voilà!

Does Stax Bill offer a free plan or trial?

We understand that sometimes you need to try before you buy. Which is why you can schedule a demo with a Stax Bill expert to walk you through the platform and show you exactly how it will help your business grow.

How does Stax Bill help me save time and reduce errors?

Stax Bill automates invoice creation, invoice tracking, and payment reminders, making your life easier and reducing the risk of human error. It can reduce the time spent on billing by an incredible 90%!

Can I customize my invoices using Stax Bill?

Absolutely! Stax Bill lets you customize your invoices, ensuring they reflect your brand’s identity and giving you peace of mind that, no matter how complex your pricing strategy, your invoices and records will be accurate.

Conclusion

In the world of online invoicing, Stax Bill is like a shining beacon guiding B2B SaaS companies towards success. By choosing the right software and following the best practices we’ve discussed, you’ll be well on your way to a smoother, more efficient billing process. So go ahead, give Stax Bill a try, and let your business soar to new heights with the power of automation at your fingertips.

You can create jaw-dropping invoices, manage late payments, accept credit cards and other online payments, send auto-reminders to get paid faster, and more! With features tailored to B2B SaaS companies and a user-friendly interface, you’ll wonder why you waited so long to implement this business growth machine.

So, what are you waiting for? Try Stax Bill today and join the ranks of businesses supercharging their growth with our smart recurring invoice solution.

Written by:

Serge Frigon
Serge Frigon
Director of Product, Stax Bill

Serge Frigon is Stax Bill’s Director of Product. He is passionate about improving billing processes for SaaS companies. With 20+ years in SaaS and billing software systems, Serge has a first-hand view of how important financial insights can be to the health of a company.