Are you a Business Owner Facing Challenges with Invoice Collection?
A businessman has to manage and control many functions for his business’s smooth running, including buying inventory, raising and dispatching invoices, collecting payments, and reconciling.
The Challenges that Business Face with Manual Invoice Collections are:
- Manual invoicing and offline payment collections kill their time and efficiency.
- Inaccuracy and errors in the process
- The offline invoices take longer to reach the buyer and involve courier charges and collection costs.
- The delayed and inefficient collection affects working capital.
- Under the manual invoice collection process, the seller has no access to track the real-time status of his transactions, invoices, and cash flows, which affects his decision-making.
Digitization has revamped business processes with the help of technology. Businesses are experiencing a huge shift in the process of invoicing, collections and payouts due to technological advancement, which is driving efficiency and savings in time and cost.
Adopting Automated Invoice Collection Software can Safeguard your Business from Late Payments and Unlock many Benefits and Growth Opportunities.
With the help of digitization, businesses can improve their collection efficiency and control delays in payment collections by automating the whole process.
In the age of digitization, invoices are created online and can be shared instantly via many channels with attached payment links.
Improved Customer Experience
By adopting Online invoice collection services, you can send your invoice to the buyer and collect the payments instantly as well. You can offer your buyer many payment options that help to reduce your collection turnaround time and improve the customer experience as well.
Savings in Time and Cost
Digitization has resulted in saving time and cost for business owners. Earlier, businesses used to incur courier charges and travel costs of the agents to collect their due payments.
Now businesses can collect their payments digitally at their convenience and the funds get credited to the merchant account instantly.
Better Cash Flow Visibility
In digital collections, the seller has access to his payouts and receivables on a real-time basis. He can manage his business finances well with full control and visibility of his business cash flows. Accurate data on cash flows helps in informed decision-making.
Upscale your Business with Hylobiz’s all-in-one Automated Solution.
Hylobiz is a B2B fintech helping businesses to automate their business processes with its cutting-edge technology solutions. Hylobiz services include automation of invoicing, collection, payouts, reminders, reconciliation, and many more.
Experience the Top Features of Hylobiz:
You can create branded invoices from the free professional templates, attach payment links to them, and share them instantly with your customers via SMS, email, and WhatsApp.
We also support e-invoice and e-way bill creation on our platform to help you follow e-invoicing under GST.
Get more information on our invoice collection software: https://hylo.biz/free-invoices-software-for-small-businesses/
Digitization of Invoice Collection and Payments:
Without any process change, you can digitize your collections and payouts by seamlessly integrating with your existing ERP on the Hylobiz platform.
We automatically sync your invoices and expedite your invoice collections. You can accept payments via multiple modes and automate your payouts with us.
Automatic Reminders and Automatic Reconciliation
Still, chasing your invoices manually? If yes, now you can automate your payment reminders with Hylobiz as per your business needs and improve your collection efficiency.
Hylobiz supports automatic reconciliation into ERP in real-time, saving a lot of time.
Track all your balances in a single place by linking your existing bank accounts on Hylobiz. Enjoy an improved flow of collections and payouts at a minimal cost.
Dashboard and Business Reports
On the Hylobiz dashboard, you can track all your collections and payouts. With Hylobiz, you also get real-time access to your business health, cash flow, and insights into expenses with Hylo. Real-time cash flow controls support business decisions and boost working capital.
Avail of various business reports on our platform and analyze your decision-making based on the reports available.
Hylobiz streamlines the business processes and drives efficiency in the organization. Businesses enjoy improved ROI and collections along with cost savings. Automating business processes saves a lot of time and provides an improved customer and employee experience.
Also, manage your inventory digitally with our stock house feature. We also help you with your capital needs by offering easy access to low-interest working capital loans in partnership with Bajaj Finserv.
We are a safe and secure platform with an ISO 27001:2013 certification. We apply 2-factor authentication and multiple-level encryption to make your data safe and secure with us.
Onboard on Hylobiz today. Say bye to delayed payments.
Sign up now: https://hylo.biz/book-demo/
Know more on Hylobiz: https://hylo.biz/all-in-one-automated-solution/
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