Billing software is one of the most important tools for any company. If you are overwhelmed with paperwork and struggle with numerous administrative tasks, this type of program can save time, money, and streamline business operations.
A big variety of billing programs are available on the market today. They differ in functionality, pricing models, customer support options, and much more. This short guide explains what to consider when choosing top billing software for your business.
1. Evaluate Your Needs
Before you start looking for the billing app, figure out what you want from it. Do you just need a program to automate your invoicing tasks? Or perhaps you want the software to gather information and perform analyses?
Ask yourself the following questions:
- How many people will be using the program?
- Do you plan to deal with sensitive information?
- Will you be integrating the app with other software solutions?
2. Consider Your Budget
The pricing models for billing software can differ. Today, many programs are located on the cloud. You simply pay a monthly fee for access. It’s possible to get a discount if you pay for the program annually.
If you want to install software on your office servers, you would need to pay for the license upfront. The next time you have to pay is when upgrades appear.
The costs of billing software may vary depending on its functionality. You may only pay $10 per month or as much as $300 and beyond.
3. Study the Features
Billing software can have a huge variety of features and options, including:
- Mobile payments
- Online invoicing
- Multi-currency and multi-language options
- Online payments
- Payment processing
- Subscription billing
- Tax calculator
- Project billing
- Check writing
- Fraud detection
- Compliance tracking
- Risk management
- Reporting
- Analytics
- And much more
Depending on your company’s needs and requirements, you can choose a program with a suitable number of features. When looking at the functionality, make sure to plan for possible business growth and expansion. Say, if you are a fitness or gym business owner, then a gym billing software would be perfect in helping you grow your business.
Some software providers may offer different plans for small and medium-sized companies. So it’s possible to request an upgrade when you are ready.
4. Consider Integration
Are you already using some type of financial software for payroll, HR, and accounting? Check if the billing software you’ve chosen is compatible with these systems. Otherwise, you may have a hard time working with each program separately.
Applications like enterprise billing system, Kansys, usually have a list of programs they can integrate with. Check with the provider to learn about your options.
5. Ask for Recommendations
Find out which billing software your friends or partners use. You can get valuable information about different programs on the market. Once you have a list of recommended options, you can do your own research to confirm their suitability for your company.
6. Check out Online Reviews
The majority of the billing software has been reviewed online many times. You can visit such websites as:
- Capterra
- PC Mag
They usually list honest user reviews and have sufficient information about each program to help you make a decision. You can also check out software provider websites to find additional reviews.
7. Run Comparisons
When you are down to several options, compare their functionality. In some cases, you can get more features for a lower price. Just because a program offers a huge choice of features, it doesn’t mean it can provide the experience you are looking for. Make sure to compare reviews to get a good idea of what the program can and can’t do.
Check how much customization the program allows. Can you add logo and company colors to the invoice or will it look the same for all the companies that use this software? By customizing your invoices templates, you can build brand awareness and improve the chances of getting timely payments. Click here to learn about invoice templates to make it more organized and efficient.
8. Check for Free Trials
Many billing programs come with free trials or free basic versions. Before making the final choice, try the free option out.
In some cases, you may find that the program doesn’t work quite as you expected it to. By using it for a week or two, it’s possible to make the right decision about buying.
Final Thoughts
Choosing the right billing software is highly important for your company’s success. Take the time to check out several suitable solutions available on the market today. By ensuring perfect suitability, you are giving your business a big push forward.
