Reduction in client billing friction by switching to cloud billing software

Posted Date : 02-July-2018

Introduction


Instead of relying on paper billing, manual spreadsheet-based billing adopting modern billing techniques such as cloud billing software will go a long way in improving customer experience. Not only does invoice automation ensures prompt invoice delivery to the customers, but speeds up the sales process, delighting customers and improving their experience. This will help you in building a long-term relationship with the customers that will significantly improve loyalty and growth prospects of your retail business.
Billing software has helped many businesses with faster billing, as we can see in every store there is always a queue that makes the task hard for the employees and makes the customers impatient.

In this article, we will answer the question – what is cloud billing software – and go beyond its definition and through its features, advantages, and benefits
Everyone has been talking about “the cloud based billing software” But what does it mean?
In simple words, cloud based billing software means online billing. Instead of accessing the software from your computer’s hard disk, you access it using the internet.

In other words, cloud billing may be called as billing that is based entirely on the internet. As in the past, where people needed to run programs or applications from software which would be downloaded from a server or a physical computer, cloud services help them to access those applications through the medium of internet.
Cloud POS software , integrated with POS hardware, uses an internet infrastructure to access data via a remote server. In other words, the data stored in your POS system can be automatically backed up and synced, making it easier to protect and update information.

    The reason for switching to cloud based billing system software

    Outdated systems might not be equipped with automatic cloud backup capabilities. This might lead to loss of critical business data. Older systems also were not quite developed to help you access business reports and data on-the-go.

    Owing to lack of cloud-based backup and retrieving features, your existing system might not be of much help in the modern world. Real-time data analysis and reporting are quite difficult with old billing software as they cannot process and give you access to data, whenever and wherever you need.

  • Save Money and time:

  • Cloud based billing software can significantly reduce costs because cloud eliminates the need for physical or hardware storage and doesn’t require additional IT professionals for equipment maintenance.

  • Improved Reliability:

  • Operate in offline mode automatically when you lose Internet connection. Each device runs independently even if the internet is down.

  • Security:

  • Physical storage devices are prone to a system malfunction, a hazard that is overcome almost entirely when you move to cloud storage. While nothing is 100% secure, the cloud does offer the safest available way to store data which also comes packed with a wide variety of backup and disaster recovery provisions so that even if a mishap does take place, your data would stay untouched.

  • Collaboration:

  • With cloud based billing software scattered groups of people can access data and information in real time and through centralized storage, thus improving the collaboration.

  • Auditing:

  • Online Billing Software allows you to save everything. Your estimates, invoices, expense receipts and any other related documents are online and in centralized storage.

    Benefits of cloud based billing system

    There are many benefits to a cloud-based billing software . It is simple to implement, easy to access billing system , very flexible and is reliable in terms of backing up data. Implementing this system does not require extra hardware or software. Here are some of the advantages of a cloud billing system.

  • Online Storage:

  • With a cloud based POS system, data is always saved online, which makes the system safer. Additionally, as everything is automatic, you don’t need to worry about where and how often your data needs to be backed up.

  • Automation:

  • With online billing consolidated sales, customers, inventory, payment, and expense information for any location with our innovative real-time data synchronization mechanism, as if it is a local store. No need of day-end process or manual upload, download or reconciliation.

  • Any time access:

  • As all data is saved instantaneously in the cloud, you can track sales as they happen, update prices and place orders wherever they are – all you need is an internet connection.

  • Reduce error:

  • One of the best features of cloud invoicing is that you no longer make mistakes while calculating VAT and currency rates. The cloud application will do that for you instantly! Eliminate typos that leave you exposed to your customers and focus on more important things. One of them being collecting receivables from your customers.

  • Detailed Reporting:

  • Online Billing Software provides reports in cash flow operations per period, client, and type of transaction. You can export these reports, store them on your computer and edit them any way you wish.

  • Centralized CRM:

  • Analyze consolidated customer information to get more insight into your customers’ buying patterns, preferences etc. This will help you to tailor offers and promotions for across the stores or region wise to increase customer footfall and revenue. Run SMS or Email promotions from the software.

  • Control & Track Inventory Movement:

  • Move stock between stores or your warehouse with stock transfers, and quickly perform inventory lookups across all your sales channels. Transfer centrally or at store level in real time. Inventory system in cloud billing software automatically generates purchase orders and transfer orders based on inventory levels.

  • Accounting:

  • Acknowledge trial balance, balance sheet or P&L account in a single click. Capture all the expenses that take place at your business. Ledger defines where you have spent and how much. With error-free data, tax calculation and bank reconciliation become much easier in the financial year-end. A clear picture of your profit and loss helps you to understand how much to invest in future aspects. Download or share this finance reports with your business partners anytime.

    Conclusion:

    As we know by now, the cloud based billing system is extremely beneficial for the businesses and it's user-friendly. Above mentioned are few & examples of how various businesses are getting benefits of cloud billing software.

    Many businesses are under the impression that implementing cloud billing software means ditching their existing system entirely and trading their traditional terminals in for tablets and handheld devices. That isn’t true. Cloud computing doesn’t have to be a huge undertaking. It can be as simple and seamless as your retail or restaurant business requires. Cloud based billing software can be integrated into your existing system to increase the security and visibility of your restaurant or retail store’s information.

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