Healthy and automated invoice management in business boost collections, payouts, and cash flow which helps in efficient operation.
Businesses use the process known as “invoice management” to invoice their customers for goods/services they have purchased and collect payment from them and make invoice payments to suppliers and vendors while tracking the invoices accurately.
Basically, invoice management entails managing both accounts payable and receivable.
This blog covers all about invoices and how to manage them.
It’s not easy to deal with multiple invoices at a time, and there are even chances of more errors when you are doing it manually.
Don’t worry, we have got you covered with Hylobiz.
Hylobiz is a fintech platform, that digitizes the B2B value chain with its automated invoicing, collections, payouts, and reconciliation solutions.
How to Raise Invoices with Hylobiz
You can start raising invoices with Hylobiz with two simple procedures:
- Create invoices with professional templates or
- Auto sync invoices through ERP connect
Hylobiz allows businesses to create sales/proforma/invoices using free, premium-branded templates on its platform.
Why Hylobiz is the Best Invoice Management Partner for a Business
- Create sales/proforma/e-invoice from professional templates
- Send invoices with attached payment links Automated payment reminders and integrated payment gateway via SMS, e-mail, WhatsApp, and more.
- Cost efficient
- Safe and secured
Tips for Managing Invoices
Here are some bullet tips to deal with invoices for small businesses:
- Choosing the right type of invoice
- Get access to sales invoices, proforma invoices, and e-invoices with Hylobiz
- Avoiding delays
- Managing invoices already sent through the invoice management application
- Customizing the invoices
- To go paperless for invoicing
- Automating the approval process
- Agreement on payment conditions in advance
- Divide accounts payable and accounts receivable days
- Regular auditing of books
Invoice Collection, Payout, and Cashflow
The digital ledger, automated reports in real-time, and automated reconciliation make it simple to understand the status of the receivables and guarantee that no invoice is overlooked.
You can get paid on time with the integrated payment gateway. The insights on the real-time dashboard help businesses taking informed decisions which accelerates payouts and collections and improves cash flow.
We assist with improving cash flow control, e-Way bill, and e-Invoice compliance, and making sure you can more confidently face audit trails with increased transaction transparency.
You can make payouts to your vendors on time using connected bank accounts via multiple payment modes. https://hylo.biz/how-payment-links-automate-invoice-collection/
Hylobiz Supports you to Deal with Multiple Types of Invoices
- Proforma invoice:
Proforma invoices are estimates or reminders of the payment that the buyer will soon be required to make prior to providing goods and services.
- Final invoice:
After the project end, the final invoice is raised/ sent for payment. This is generally done by freelancers and sole traders.
- Sales invoice:
Sales invoice is raised by businesses to the client for the payment of products or services.
The term “e-Invoicing” as used in the GST law in India refers to electronic invoicing. B2B businesses with annual turnover worth more than Rs. 10 crores are required to generate an electronic invoice.
Suggested read: https://hylo.biz/e-invoicing-is-strengthening-the-future-of-businesses/
Benefits of Hylobiz:
- Connect your ERP and bank account
Without requiring any process changes, you can quickly link your current ERP on Hylobiz and automate your business’s invoicing and collections.
- Shortest setup time
With connected ERP, you can quickly and easily upload invoices, create invoices, or integrate your invoicing system.
- There’s no unplanned downtime.
We are aware of your organizational requirements and work to ensure that our system is always available to you.
- Automatic reconciliation
Get real-time tracking of your transactions with the digital ledger. Also, the auto-reconciliation reports are accessible on the go while saving your time and energy.
- Connected banking
With our convenient connected banking services, we assist you in greatly increasing your business’s collections and payouts.
- 360-degree support
Receive 24-hour technical support from our team.
Read more about our offerings: https://hylo.biz/offerings-sme/
Hylobiz’s automated solutions help reduce operational costs and drive efficiency in the business.
Hylobiz streamlines invoice management and is accessible over both web and mobile apps. You can also share customizable access to your team as per the requirements and enjoy the smooth flow of business.
Hylobiz helps businesses automate their business processes, drive efficiency and save money and time.
What are you waiting for?
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