As a freelancer, it can be challenging to manage your cash flow, especially whilst juggling several projects and customers. Financial admin can become overwhelming and a major distraction from performing your actual skill. Before long, you may find inbound cash slows down, preventing your business from growing. Fortunately, Payment Bear is here to help, as our automated invoicing platform gives you peace of mind, saves you time and improves your cash flow.
Here are some benefits of automated invoicing and how Payment Bear can help you!
Save time
Time is our most valuable asset in both our personal and professional lives - not many people want to use their precious time invoicing. Whether you’re new to invoicing or a pro, using a digital invoicing system allows you to create, send and manage invoices in a fraction of the time. We highly recommend a digital solution for the time it will save you now and in the future (in the era of digital tax!).
Payment Bear’s platform helps you further still by automating time-consuming processes. Do you keep manually creating the same invoices for your customer? Our recurring invoices allow you to schedule their creation on a given frequency. If you find your invoices are often very similar for different customers, you can duplicate an existing invoice in the click of a button.
The faster you can produce and send your invoices, the faster they will get paid. So why not automate the process so you can invoice immediately?
Reduce errors
One of the leading causes of late payments is poor quality invoices. We strongly advise you to create clear and accurate invoices to ensure they can be paid quickly. Automated invoicing platforms minimise errors by reducing human input. Payment Bear’s invoicing software offers a simple and straightforward structure so you won’t forget to add any important information. We’ll also flag when some information doesn’t look quite right, just in case there’s a simple mistake. This will help reduce any issues or back and forth between you and your customer.
If you are used to accepting payment via bank transfer, you may have experienced your customer making a simple mistake, too - adding the wrong bank details or sending the wrong amount can still happen. Payment Bear’s Pay-by-Bank payment technology removes this challenge as all of the payment information is directly sent to your customer’s banking provider, so they simply have to press a button to authorise the payment. No more payment errors.
Improve customer satisfaction
A happy customer means happy cash flow! Positive customer relationships significantly improve payment speeds and repeat business. Your billing experience is an important part of your service and will impact your professional relationships. So let’s make it awesome.
Sending an automated digital invoice improves the overall customer experience, as it makes it easier for your clients to pay. For companies that are dealing with lots of invoices, a quick and convenient way of paying will improve their experience. Payment Bear uniquely offers a Customer Portal, where your customers can easily view and pay all of their invoices in one place. Additionally, we offer a range of payment options and methods that allow you to incentivise faster repayment and build a healthy relationship with your customer.
Eliminate late payments
Payment Bear’s mission is to end late payments. So this is a big one for us.
Automating your invoicing process will undeniably reduce the chance of late payments; improved quality and speed is the first step in ensuring you get paid on time (or better yet, fast!). Reducing human errors and having healthy customer relationships is a sure-fire way of lowering the odds, but it doesn’t mean late payments disappear. Sometimes, your customer may simply forget about an invoice. We understand that it takes time and can feel daunting to have to chase your customers, so we built an automated reminder platform to handle that for you. Simply set up the frequency you’d like your reminders to be sent and optionally customise a personal message and we’ll do the chasing on your behalf. No more forgotten invoices, less late payments, better cash flow. Simple!
Improve organisation
Keeping organised is hard, particularly in the invoicing world. Manual invoicing lacks visibility of automatic status changes and payment tracking, meaning it can be a challenge to keep on top of your invoices. Payment Bear’s online dashboard allows you to view all your invoices in one place and filter by the customer or status to view which stage each one is at. When an invoice is viewed or paid, the status will automatically change, saving you time and allowing you to prioritise other tasks. We’ll even notify you when a customer marks an invoice as paid or makes a partial payment, so you can keep on top of your finances in real time.
Start invoicing for free today with Payment Bear UK to improve cash flow and create a seamless process in order to get paid faster.
