Use our easy to use free invoice template to get started.
Using a sales software has a wide range of benefits for an organization or a small business alike. Your business will become more competitive with the help of a tool that boosts more sales. That is the main goal of any business, to grow more sales!
The best sales software out there will help you in budgeting, planning and creating a roadmap to improve small and medium-sized businesses overall success. Nucleus discovered that an efficient sales software had an average return of $5.60 per every dollar you invested. More thorough research found out that the average return on investment jumped to $8.71 for every dollar!
These statistics are clearly indicating a trend that you must follow. Sales software are getting more important every year. If you do not have a sales software for your growing sales needs, it is time to get one. The benefits are endless if you know how to utilize such a tool to boost more sales and increase customer awareness.
Take a look at these benefits of sales software that will empower your sales team to go the extra mile:
Efficient account management:
A sound sales software is just as good as a database full of information that can shape your next sales strategy. Your sales problems will be reduced, and your team can manage multiple portfolios. After a look at the dashboard on the software, you will be able to identify patterns and pick out the clients who can promise you more revenue. Filter out the less promising ones and maintain a steady rate of growth. your team will be able to create unique sales pitches for the accounts that are worth the deal.
Sales software helps you anticipate the needs of your customers. Like if a customer orders your product every month, you can set up recurring reminders through the sales software. Customers will thank you and become more loyal to your brand because everyone loves a brand that takes care of them.
A well-informed sales rep can make better decisions. Having less or no information leads to inaccurate sales forecasts. The best sales software capture information accurately and never make you look bad in front of the customers. You often find critical information through this software that is important to make forecasts that always stand spot-on.
Sales managers can have a sigh of relief because the software will always keep them updated with the current customer sales trends. Moreover, you will stop missing out on sales opportunities just because no one followed up. The best sales software have a notification system that prompts sales reps to follow-up with a warm lead. You can also filter out your existing database to find out the strongest chances of closing more deals. Find the leads that have not been contacted in a while, and secure more deals.
Contacting the right people:
Do you know that 83 percent of online shoppers need help from a sales rep to initiate a purchase? Buyers have lots of questions when they are browsing on an e-commerce site. The best sales software out there will provide you a complete online chat and support feature that you can use to guide the online shoppers on your site.
There will be less shopping cart abandonment when a sales rep is ready to save the day by helping out the customer. Good businesses always look out for their customers. If you want to secure more purchases, you should integrate an online chat system on your website.
You can also find a targeted list of leads which have more chances of conversions. Upcoming promotions and personalized discounts can also be sent to the leads who have shown interest in your product or services. Sales software help you in segmentation, which is a surefire way to increase customer engagement and boost your ROI.
Business planning can be improved with sales software that presents you with real-time analytics. Implementing good sales software that pays attention to analytics, can boost your sales and marketing game manifolds.
Think of all the things you will know about your customers. Sales software usually track the sales cycle for respective clients, target characteristics, the positioning of the brand and the effectiveness of your sales strategies. Your sales team can follow tracks where there are more chances of success. Analytical and data-driven sales strategies are the next big thing in the business world, so you better catch up!
Good sales software help you manage the inventory more effectively. You can get updated information about the latest inventory status, and sales managers can make new deals with complete information on current inventory status. It builds trust with customers, and you deliver what you promise. Moreover, you can deliver existing inventory to the most profitable customers for a better ROI.
Your sales process will evolve after you integrate sales and invoicing to run side by side. Invoicing becomes so much easier through an efficient sales software. Cut the time spent on mundane tasks that can be done through automation.
Even the simple task of setting up a meeting with a client can be done through the software. Put a stop to the back and forth emailing and setting timelines to follow up with clients. Simply click on a link to see your availability and set meeting times.
You can get dozens of invoice templates on the software which can be customized to match the tone of your business. Invoice is not a binding legal document, but it is the strongest proof of payment and business. Invoices can save you from many troubles, be it with a competitor or a government audit. The reason you charge your customers is to ensure payment. Through the sales software, there are solid chances of getting paid and following up on late payments. You set your own terms and conditions, and the software learns it through technology.
If you are a clever business person, you will avail the amazing benefits of an invoice template. Setting up is a one-time thing, and then you are good to go. Your sales process is automated, and recurring invoices are generated without wasting time on the same task every week or month.
The day of invoicing is the toughest day ever because you want no mistakes and enter all your numbers correctly. But the fact that invoicing takes a day is trouble in itself. You should be able to focus on your key business processes, rather than spending a whole day on bookkeeping. With sales software, you can take a backseat because recurring tasks will be managed by the software.
You have to set up the template for the first few times. Log into the account, select the client you have to invoice and input the hours you serviced. It takes only a few minutes to complete and hit send. Invoice templates are a blessing for small business owners who are doing everything by themselves. The process is extremely user-friendly, and you can pick and choose a template that relates to your business.
Essential elements of an invoice template:
Below are the important elements of an invoice that can help you create those invoices in no time, and get paid faster:
This is obvious, but a header should be edited before you enter other details. Headers carry information about the invoice that distinguishes the invoice from other documents. You set the tone of the document and make sure that the header is different from other company documents.
If you are invoicing a client, make sure that your company info is entered in the top right or left of the invoice. Enter the information correctly with “Sold To” and “sender” details. This is purely for bookkeeping purposes and recording every invoice you send to the client. Make sure you enter the legal name of the company, complete with postal code, phone number, email address, and company address.
Add the date to the invoice. The date of invoice determines when you will be paid.
This number is unique for every invoice and important to enter because you can easily pull up an invoice from the archives using this number. You can have a different serial number for every client that can begin from their company initials, like “SF-00001”.
You can also add a unique identifier which is not the invoice number or the date. For example, some companies add an ID-based system, symbols or a file number for the invoice. It completely depends on you and your nature of business or number of clients.
Check with the company to know if they want any unique identifier included like an internal purchase order number. Details like these are very important, especially if you are invoicing after a long project.
List of goods or services:
This section of the invoice carries an itemized list of your goods that were delivered to the client, or the list of hours you bill for the service. Here are the most important parts of the itemized lists:
Names of the goods or services
Dates the goods or services were provided
Rates per goods or services
The quantity of the goods or hours of service provided
You can add sub-sections for items or service to enter any other details
It is good to enter all the details, because your payment process will be as smooth as this list.
Terms and conditions:
Many business owners don’t add terms. This creates problems in the long run if you get into legal trouble over payment. Add terms and conditions which are specific to your business. For example, many business owners describe their payment timings and surcharge on late fees payment.
You can also add a late fee, shipping fee or tax details in this section. It is important to remind the customers that you will not be lenient with your terms and conditions.
Total amount due:
It is good to mention the due amount in bold letters, to erase the confusion. Itemized fee and any other charges should be mentioned clearly, so the receiving part cannot hold you accountable for not mentioning.
The previous elements are essential in every invoice, and you can edit them in the template on the sales software. Since every business is different, here are some things businesses can add-on to the invoice template:
Messages: make your client feel good by adding a message field or a thank you note. You can also add a reference to an important part of the invoice
Tax ID: some people use their client’s tax ID when invoicing. This is a government-issued number which is unique for every business. It is good to add, especially if you have a lot of invoices to send every month.
There are no legal guidelines which should be met in writing an invoice, but it is good to add the elements mentioned above. You will cover all the important sections and ensure a speedy invoice process.
The role of sales software in invoicing shouldn’t be underestimated. It is very good for your business to have sales software developed by a team that fully understands your requirements. Build a professional outlook by sending invoices to the clients from day one. The days of manual bookkeeping are long gone, and it is time to leverage technologies like artificial intelligence to power up your sales.
Sales and invoicing mistakes to avoid:
Invoicing and bookkeeping are just as important as finding a client. Every successful business or freelancer needs to manage an archive of clients and invoices. The sales software is an ideal platform to save customer data and initiate future invoices. Here are some invoicing mistakes you must avoid at all costs:
Many business owners operate on a tight budget, so they believe that a spreadsheet is the best way for bookkeeping. They prefer creating invoices on a Word file and logging its details on spreadsheets. This method may work if you have a single client, but for medium to large businesses, it is a haphazard time killer.
Of course, the method is completely free, but it has its own cons. It keeps pulling you down. You have to struggle to find invoices with the right numbers, and any mishap can lose you the file collection. Do yourself a favor from the moment you start signing up new clients and get help from a sales software. Securing invoices, tracking payments and follow-ups are easy as a breeze.
Newbie business owners or freelancers don’t know that they can set up their own payment terms. Net 30 is not the standard practice. Don’t let the client rest in the 30-day payment limit, while you manage a difficult cashflow problem.
Use a sales software and make payments due starting the moment the invoice was posted to the client. If you have large projects, set up recurring invoices or interim invoices through the sales software to send prompts on a monthly or bi-weekly basis.
Scared to follow up:
This is a huge problem with new or small businesses. You feel scared to keep nagging the client about unpaid dues. Sales software will inform you about the clients who always pay late, and you can tweak your payment terms for them. The software also creates follow-ups for you.
Don’t let the client get away with their practice. Sales software will highlight the late payers, so you never have to push your boundaries for them. In the unfortunate instances of dealing with a client who pays late for fun, here is a method to put an end to it. Constant troubles with the client mean you are not going to work with them anyway.
Follow-ups are always necessary, and if you don’t have a team of an accountant, you can always rely on the sales software to take care of this task.
It is human to make a mistake and send the invoice to the wrong person. However, this mistake may not happen more than once with one client. You will appear unprofessional, and the client may want to end terms with you as a business.
Moreover, find out who is the person paying for your work in the company and save their details in the sales software. The artificial intelligence technology in the sales software will eradicate the mistake of sending the invoice to the wrong person.
Always remember that finding new work is just as important as maintaining your client base. People should always come back to you because of your excellent work ethic. A solid sales CRM also helps in onboarding the best sales reps who are ready to take the plunge with the help of technology. Even the best salesperson can not sell if they aren’t aware of the true potential of your business, customer profiles, conversion rates, frequently asked questions and popular products.
Take some time and invest in a sound sales software that suits the needs of your business.
Have you invested in sales software? Our community would love to hear about your experience.