Automated invoice generating software helps to manage the organisation’s invoice management system effectively. It speeds up the entire invoice generation process by reducing manual entries, which reduces the chances of errors.
What is an invoice generator?
Nowadays, creating invoices has become a simpler task as there are plenty of templates available in Word, Excel, etc. But these are basic invoice templates. But if one wants to streamline the entire process and simplify it, using an invoice generator is the best option.
An invoice generator automatically generates an invoice for goods or services sold. This improves efficiency. Invoice generating software is suitable for all businesses as it helps to generate paperless invoices and stores them on the cloud to be processed quickly.
Who should use an invoice generator?
Small as well as big organisations can use an invoice generator for creating invoices. It can create all types of tax invoices, bills of supply, export invoices and B2C invoices. Further, just creating invoices is not sufficient, one also needs to track invoices, payments and stock. As the business grows, tracking the same in Excel is very difficult. An invoice generator sends payment reminders to customers, keeps track of inventory and cash flows. Thus it is a handy tool to streamline the process of invoicing.
Features of an ideal invoice generator
Some of the features of an ideal invoice generator are:
- Inventory management should give a quick view of inventory available as and when a new order is received. This helps to prevent a shortage of raw material. Also, the use of the barcode system helps to achieve an end to end tracking of inventory.
- Should be able to create all kinds of tax invoices, bill of supply, RCM invoices, export invoices etc. Faster documentation helps you to be ahead of deadlines.
- Create customised invoices to create brand value for the organisation.
- On cloud storage – This helps in quick updation of new orders and get timely payment by automated reminders. Real-time reporting saves time that can be invested in business growth.
- Flexible integration with mobile phones and other devices should provide mobile phones for better communication with customers.
- Fast and easy invoicing – The software should be easy to understand to update data to generate invoices quickly update data to generate invoices.
- Provide security – The most important thing is that it should ensure data security and privacy.
Advantages and disadvantages of using invoice generator
Below are some of the advantages of using an invoice generator:
- Reduces errors: Once you update the quantity and goods, it automatically calculates the tax and taxable value. Thus, the chances of errors are reduced.
- Increases efficiency: There is minimal input of manual data, which automatically saves time and effort.
- The customer database is stored on the cloud, which helps in future invoice generation and projecting demand.
- Professional-looking invoices are created using the invoice generator, which adds to the brand value of the organisation.
- The cost of using invoice generators available in the market is very less. For a small business, cost and efficiency matter a lot.
Some of the disadvantages of using an invoice generator are:
- The invoice generator software allows you to amend the invoice within a very short period. They cannot be altered at a later date. Thus any major changes require a new invoice to be created.
- Spam- These invoices are usually sent via emails which may get caught into spam filters and thus are sent to the spam folder. Thus, the customers may miss reading a spam email.
- Invoices can be sent only to customers who have online access. But, there may be customers who do not use the online mode of business.
- Charges- Few invoice generators charge a fee for providing an invoicing facility. Paying such a fee may not be worth it for a small business. They may instead spend time doing invoices.
Drawbacks of using invoice generator and best alternative
Some of the disadvantages of using an invoice generator are discussed in the above topic. ClearOne software facilitates invoice generation. It generates professional and customised invoices and, at the same time, gives a complete track of invoices and inventory.
Also, data is not shared with external parties and is encrypted. This ensures data security.
FAQs on invoice generator in India
Is it safe to use an invoice generator?
An invoice generator doesn’t keep a copy of the invoice generated. The site is secured using industry-standard SSL encryption. Thus, it is completely safe to use an invoice generator.
What is the cost of using an invoice generator?
Most of the invoice generators are available free of cost or at a very minimal cost.
Does invoice generator help in the customisation of bills?
Yes, one can add a company logo and also customise the invoice templates for recurring use. It also provides a user-friendly interface that helps in client management.