Instead of invoice management software, with the platform, you can instantly and easily create and handle invoices. Manufacturing companies can receive secure invoice payments without delays.
Running a manufacturing company involves numerous paid transactions daily, each requiring a separate invoice. Those individual invoices add up quickly; almost half of all businesses (48%) handle up to 500 monthly invoices. Invoices can be a real headache during tax season. You are going to fail in invoice management if you are not careful.
For a manufacturing company, there would be dealings from big to small, where many invoices need to be created. Imagine you need to create invoices using invoice-creating software and receive payments through another software. It would be difficult for the clients, and this blog will give you a solution for all your invoice-related problems.
Click Here to See Interactive Demo
Why Does a Manufacturing Company Need Invoices?
An invoice is a document given by a dealer to a customer that lists and records a transaction between the two parties. For a manufacturing company, the need for invoices is a must.
- Payment Collection: Invoices serve as formal requests for payment from customers or clients who purchase the company’s products. It would be helpful for timely and accurate revenue collection.
- Documentation Purpose: Invoices provide a detailed record of what was sold, including quantities, prices, and payment terms that are useful for keeping records.
- Taxation and Compliance: An invoice can be used as a legal document required for tax reporting. It provides correct calculations about sales tax and other applicable taxes.
- Financial Management: Invoices are essential for tracking accounts receivable to manage cash flow.
- Customer Relationships: Clear and accurate invoicing helps build trust and maintain strong relationships with customers.
- Contract Fulfillment: In manufacturing, many transactions are based on contracts that specify terms of delivery, payment, and product specifications. They can be helpful to support compliance with obligations in contracts.
How To Manage Invoices And Payments Through One Platform?
It would have been so simple and easy if your manufacturing company could handle invoices and receive payments through one platform, wouldn’t it? Zil Money offers invoice management solutions where customers can pay the amount instantly. Without any paperwork, your transactions are recorded on the platform. With the user-friendly interface, your manufacturing business can create and send invoices with payment options in a matter of minutes.
Benefits Of Using The Platform For Invoice Management
-
Easy Invoicing Process
Problem: A manufacturing company regularly ships large orders to multiple clients. Manually creating invoices for each shipment is a time-consuming process. Also, the customer constantly complains about errors in the invoices.
Solution: With Zil Money, the manufacturing company can generate invoices without the need for manual writing. The user can enter the details and send them to anyone without errors and hassles.
-
Receive Payments Faster
Problem: The company faces delays in payment collection, affecting cash flow. This happens because customers cannot instantly access a payment gateway and do not have the payment method offered by the company.
Solution: Zil Money allows the company to send invoices with integrated online payment options. The platform enables clients to pay instantly from credit cards, wallets, bank accounts, etc. Payment reminders can also be set up to remind clients before the due date.
-
Enhanced Financial Tracking and Reporting
Problem: To report the company’s revenue, the manufacturing company needs to track outgoing invoices. However, due to the manual storage of invoices, checking and calculating them from the beginning is a roller coaster ride.
Solution: The platform provides detailed reports on accounts receivable, overdue payments, and cash flow. The company can easily monitor which invoices are paid, pending, or overdue, plan better financial management, and allocate resources.
-
Secure Data Management
Problem: The company handles sensitive financial information that needs to be protected from unauthorized access. Due to identity theft and data breaches, the company is worried without knowing what to do.
Solution: Zil Money provides secure, encrypted storage for all invoicing data, ensuring that customer and financial information is protected. The platform allows controlled access, so only authorized personnel can view or modify invoice data.
-
Manage International Clients
Problem: One of the clients is from out of your country, and you need to receive payments. But with exchange rates, you will lose a nice part of the payment.
Solution: With the platform, you can receive payments through international wire transfers. Zil Money makes sending an international wire transfer easy, secure, and convenient. You can manage international clients without trouble.
How To Receive Payments Instantly With Invoices?
Sometimes, due to several reasons, the client might delay the payments. The reasons can be many, like insufficient funds, no preferred payment method, or lack of digital infrastructure. The issue can be resolved through payment links.
Zil Money offers payment links to receive payments, and you can request payments via email and SMS. After sending the invoices, you can send them payment links where the client can make an instant transaction. The payment links are customizable, and you can generate a link in minutes. You can send them as a one-time link or recurring link. The feature is useful when flexible and speedy payments need to be made.
Conclusion
Enhance your invoicing and payment processes with Zil Money, transforming how your manufacturing company handles transactions. Say goodbye to paperwork headaches and payment delays and embrace a flawless, secure, and efficient solution. Experience the financial management of the future now—managing invoices and payments has never been simpler, thanks to the software!
