If you’re still sending paper-based statements to your customers, you’re probably not a fan of the monthly invoicing ritual. After all, the process is:
- Time consuming, since each bill must be prepped, printed and mailed.
- Expensive once you factor in employee hours, materials and postage.
- Environmentally unfriendly, given all the resources consumed.
If you use electronic billing, your feelings about invoicing are probably different. That’s because the process is faster, cheaper and greener across the board.
Now, however, there’s an even more convenient way to send bills to customers. Mobile invoicing enjoys all the same benefits as electronic billing, but it also offers a few additional advantages.
Why Are More Businesses Using Mobile Invoicing?
One of the primary draws of mobile invoicing is that you’re no longer tied to the office. In fact, you’re not tied to any location. That’s because mobile billing relies on cloud-based technology to store payment data in a centralized location.
In effect, you’re able to send invoices any time, anywhere. Though the benefits don’t stop there. Below are some additional advantages of mobile invoicing:
1. Faster Payments
Mobile invoicing allows you to send new bills on the spot — regardless of where you are. You can even capture signatures or print receipts if the customer is standing in front of you.
This speed matters since the sooner you send invoices, the sooner you can get paid. You don’t have to wait until you’re back at the office to begin managing your books.
2. Greater Savings
Like electronic billing, mobile invoicing doesn’t require any physical materials (except a smart device). You don’t have to make trips to the bank or post office either.
As a result, your company can save up to $20 per invoice — at least compared with traditional paper-based billing and checks.
In terms of total savings, mobile invoicing actually wins over electronic invoicing. It’s a lot cheaper to give employees smartphones than it is to give everyone computers.
3. Better Data Management
Because mobile invoicing relies on cloud-based technology, incoming payment data automatically syncs with your home office. Even if your sales team is out in the field, you can see all statements and transactions happening in real time.
When you combine this with payment integration, you’re able to gain deeper insights into the who, what, where and when of all your customers’ buying behavior.
Is Mobile Invoicing Right for Your Business?
Every company has slightly different needs. It’s worth exploring whether mobile invoicing might work for you. Fortunately, getting started couldn’t be easier.
If your company already has a smartphone or tablet, you’re 99 percent of the way there. The remaining one percent involves setting up that smart device to take advantage of mobile invoicing and payments — and we’re here to help.
At BluePay, we specialize in PCI-compliant payment processing and billing for a broad range of devices. We even support mobile invoicing apps that are exclusively designed for Android and iOS.