Paying is one of the most important elements of running a small business. Unfortunately, creating invoices from customers and managing payments can be complicated. This is where the invoice comes.
Zoho Invoice is an online invoicing and payment tool designed for small businesses. But it is built on a large scale as it grows with users.
The device has been serving small businesses since 2008, constantly updating with new features over the years. Recently, Joho announced several updates to help small businesses through challenging times.
Joho invoice product expert Harikrishna told Small Business Trends, “We have focused on helping businesses transition from traditional to online. We really want to advance our customers, especially small businesses who have been the most affected this year. “
The invoicing and payment tool within Joho One Suite, Joho Invoice has been downloaded over 100,000 times. And businesses in more than 160 countries have used it.
The tool is meant to be scalable. Freelancers can use it to send simple invoices. And businesses can use it to automate various parts of the payment process. It is popular with everyone from musicians to retailers to shops.
Features include invoicing, expense tracking, project billing, and even customer communication. Basically everything revolves around the main goal of helping users pay faster.
Zoho invoice gives users the ability to customize their invoicing process. Over 15 invoice templates are available. And you can customize one by one before it starts. Invoices are available for both goods and services. And you can set them to send at one time or to send on a recurring basis.
There are also custom project billing options for those charged on an hourly or per-project basis. You can set a time sheet or even use a timer within the Zoho app and customize the amount charged for time on each specific task.
Zoho also allows you to send estimates and collect payments on various parts of the process. For example, users can get approved estimates, then send an invoice for their initial retainer fee. They can then go back later and collect payment for the rest after the project is completed. There are also options for establishing payment approvals to multiple stakeholders within a company. And yes, you can send these through various channels such as text, email or customer portal so that your customers can respond quickly.
Zoho invoice users can also avail facilities to manage expenses and other payments. There are options to track both billable and non-billable expenses. For example, you can include content purchased for a project, mileage with customers, and even parking fees. The app also allows users to scan receipts and bill expenses to customers accordingly and mark expenses at a fixed rate.
Another unique feature is the customer portal. It gives all users their billing information, estimates and details in one place. They can access contact information or chat with users in the app. The entire experience is designed to make things as easy as possible for end users, so that those sending invoices and estimates can respond quickly.
Joho invoice product expert Sachin Nishil told Small Business Trends, “This allows customers to chat directly within the portal. So if they have a question or want to discuss something, it simplifies that process for both parties. “
When it comes to payment, Zao Invoice also offers a lot of customization. Both global and local payment modes are available. Options include direct deposit, credit and debit cards, cash, checks and various local platforms.
They have also added late and partial payment options. So if a customer is not able to deliver everything to the front, they can still send what they have. And users can set reminders or fees for late payments. It is also designed to save companies time on driving customers down to collect on those invoices.
Says Nishil, “We often have customers say that the software saved me many hours that I would have spent reminding customers about payments and doing other very simple tasks.”
When it comes to payment and communication with customers, there are many compliance issues to follow. But have also thought about Joho invoices. The tool provides country-specific compliance options for businesses that operate in a specific region. And there is a global version for those working internationally. These are built keeping in mind compliance standards like ISO 9001 and GDPR.
Self-service portals and invoicing options also offer a wide range of languages and currency options to meet the needs of global customers.
Zoho invoices are constantly taking into account input from customers. So trends like mobile payment and rapid trend towards online sales have already impacted the platform.
To facilitate easy invoice payment on mobile devices, Zoho recently unveiled the QR code.
Harikrishna says, “The percentage of payments being made on mobile devices is increasing. So when you send an invoice with this option, the end customers can only scan the QR code and pay via mobile. We are not even a month with this facility and many of our customers are already seeing results. “
Zoho has also recently added payment links. This feature is designed to help those who want to make the invoicing process even simpler. This may be particularly relevant for companies that sell products directly to consumers after pivoting online this year.
Says Harikrishna, “The traditional invoice process is not really designed keeping in mind the B2C segment. So we made it even simpler so that you can just send a checkout and only then the challan will be created. This eliminates the separate process of creating an invoice document so that you can pay faster. “
Other updates include:
- Chat facility directly in customer portal
- Expected revenue and budget facilities for projects
- Volume based pricing for bulk buying customers
The company is also currently working on some additional features that may be available in the coming months, including:
- HIPAA Compliance
- Multi-currency support for customers who have to pay from multiple countries
- Custom modules and widgets within the application
More in: Zoho Corporation