Invoicing is the final stage of a sales process, and it needs meticulous approach. This process, also known as billing, does not only mean adding items and jotting down price against each of them. It is a beautiful pretext for branding and should be done as professionally as possible. Here is how CRM software helps in managing invoices.
- Managing payments
The prime objective of invoicing module of CRM software is managing payments. Some payments are received in parts, while other payers do not initiate payments unless reminded of. Thus, you can find features like payment reminder, partial payment statuses, late payment penalties etc. to help you manage receivables intelligently. Automatic reminders can also be set for dealing with defaulters.
You can add message using message template to voice your brand’s vision and spread it through invoicing module. Logos can also be inserted using logo manager to make your remembered amongst vendors.
- Accounting management
If you get stuck with accounting rules, there is rule book available to help you with these so that everything you do is in consonance with legal framework.
- Customized estimates: Every business has different items to deal with. The customized estimates help in making the process easier and time-saving. If the estimate is agreed upon, you can convert it to invoice too.
Invoice management tool is also helpful in keeping record of paid invoices. These records help in generating figures like monthly or annual income, tax figure etc.
Thus, managing invoice becomes a cakewalk with invoicing support available in Customer Relationship Management software. This is the most important tool useful for gauging business progress and is also helpful in avoiding bad debts. So, know all about it and customize it according to your needs for better management of payments and of profits eventually.