Billing and invoicing for businesses are at the heart of our everyday lives – a fact Billwerk understands well. Studies have revealed that 56 percent of bills in the US are paid online.
One of the most significant factors in any business is prompt payment. As a business owner, when sending bills, you would want to receive payments without delay. That is why efficiency is vital in the billing process.
Good invoice management encourages regular cash flow; no company lasts in business without it. Running a successful business can be a wonderful experience.
One of the biggest struggles in business comes from tracking your money and what’s happening to it. Maintaining a positive cash flow can either make or break your business; especially if you are starting out.
Online billing software solutions help to streamline and automate invoicing and business workflow.
The Billwerk software is an easy solution for most businesses’ billing and invoicing needs.
Billwerk sees that businesses need to invest in billing and invoicing solutions if they desire sound financial and accounting operations. In response to this need, the software company has built a solution that caters to that need.
Business owners, freelancers, and contract workers need to automate, speed up and manage their payments processing. So they need invoicing and billing software solutions.
In this review, we will take a look at the Billwerk platform, its benefits, drawbacks, and features.
What is Billwerk Billing and Invoice Software?
Billwerk billing and invoicing software bring joy to the money subject.
It is online software that helps businesses with billing and invoicing, thus creating flexible solutions to growing business demands. It assists freelancers, business owners, and contract workers with their accounting needs.
Billwerk takes care of users’ billing and invoicing process. The tool also allows companies to bill clients, manage expenses and track customer information.
Using an open API structure, Billwerk integrates with other business applications like payroll, CRM and POS systems. This arrangement enables users to choose which app they want to leverage in their business.
Pros of Using Billwerk
This billing and invoicing software have extensive benefits and attraction points. Let’s take a look at the advantages of using Billwerk.
Billing and Payment
Billwerk provides you the capability to process payments. You can create an online portal for payment. The software can process payments in multiple currencies.
Maintaining Professional Image
Billwerk’s billing and invoicing software provide customization tools to retain your brand identity across the board. Users can include customized logo and design improvements to invoice and payment documents.
Reduce Missed Payments
Billwerk will check and track your billing commitments, to ensure that you do not miss collecting any payments that will contribute to your bottom line.
You will be paid faster because the software automates the whole process.
Create and Customize Invoice
Billwerk is easy to use. You can create an invoice and personalize them from anywhere.
Reduce Late Payments
Billwerk can help streamline your billing and invoicing process, thus allowing you to receive payments on time. It will also boost your profitability and have your collections on the dot by keeping your data and schedules organized.
Billwerk has a clear and easy to understand audit trails which is useful for finding information. The audit trails help you respond to client’s queries and questions. Not does this save time, but also improve team morale and make customer care simpler.
There are some other advantages of using this software. It helps you to:
- Generally get things organized
- Cut cost by reducing the number of staff in the invoicing and billing department.
- Reduce fraud and improve security
- manage projects and teams
- Increase cash flow with faster payment of invoices
- Save time spent on going after late payments.
- Track time and expenses
- Enhance customer relationship with shorter time in resolving errors
Cons of Using Billwerk
Billwerk has with drawbacks, let’s explore them.
Despite having all necessary security mechanism and protocols, Billwerk is a penetrable fortress. The most determined hacker can breach the software and access sensitive database or information.
An accounting package will suit some business. Albeit, the other businesses will need to either refine their package or change their processes to use this accounting software.
One of the drawbacks to using Billwerk is the price. You’ll incur more cost that comes with using the software. Accessing this software requires specified processor speed, hard drive memory, and RAM.
Also, backing-up your account data may need more storage space than an excel spreadsheet. Simple storage devices like a flash drive won’t work for storing or transferring data.
Restricted Invoice Design
Billwerk restricts the number of the invoice that you can customize or design. You can only change the color scheme or add your business logo, and that’s all.
You will need to be creative when structuring the layout and contents on your invoice.
No Single Global Standard
Billwerk operates on a complex and diverse e-invoicing environment that doesn’t have a globally accepted standard.
Features of The Billwerk Software
The Billwerk software comes with its handy features. Let’s take a look.
Payment Tracking and Reporting
Whenever this software reminds a customer of a required payment, and the customers still do not follow through with the agreement, Billwerk makes it easy to know who is defaulting.
Instead of wasting time analyzing those who have paid and those who haven’t paid, this software offers a payment report for a quick view into defaulting customers.
The report also provides insight into customers who have overpaid the invoice and those that need a refund.
Professional Invoice Creation
You can use predefined invoice templates to create invoices with a refined look. The invoice creator will help you create and send the invoice to your customers, within a short time.
The software allows users to extract information from projects, customer records, and time sheets.
Billwerk billing and invoicing software aids business record and track events. This solution integrates well with accounting or CRM tools to help you track end-to-end financial details.
Businesses can use the report to develop budgets and give an exact picture into their revenue states.
Customer Record Creation
Billwerk enables you to create and summarize your customers’ information. The software has centralized database storage for all the information you gather from clients.
You can also access your customer records from the database.
Receive and Send Information
Information on the database is accessible. Hence, you can always forward quotes to your desired customers.
Invoice, Payment and Tax Record
You can carry out task reporting on this software without the need of any external system. The tax record feature reduces the time you need to summarize information.
Before the evolution of billing software, businesses had to create their invoice and send them through the mail. The process is time-consuming.
Users can send an invoice to customers through online invoicing. The customers can also make payments through the invoice, no matter where they are.
The online invoicing system encourages rapid growth for global businesses. Billwerk will keep accounts of financial records in all currencies.
Many Currency Setting
You can connect this billing and invoicing system with the rest of your software architecture. You can also use the multi-currency environments to issue receipts, accept payments and manage taxes.
The multi-currency setting is vital for businesses that operate globally.
It is difficult for companies to reach out to their clients to demand payments. Users can notify customers before their payments are late.
By setting up the reminders, users will not have to remind their customers to pay their bills. The notices will ensure that a business misses less payment from its customers.
Recurring Billing and Invoicing
Businesses can use this software to set up automatic billing to charge customers when their payments are due. Companies and their customers can rely on this software to do the work.
Predefined Communication Templates
Billwerk provides beautiful and predefined templates. The models will help you personalize accounting by making it more suitable for your brand.
Attaching Customized Terms and Conditions to Your Invoice
Billwerk gives users the option of including terms and conditions for every invoice they generate. The terms and conditions will serve as useful proofs, especially when a customer defaults on their invoice payments.
Your customers can pay their invoices via PayPal. You can link this popular platform to your inventory, payroll, banking and reporting module using one primary source.
Automatic Invoice Reconciliation
Do you sift through bank records in search of deposits that correspond with the bills you have sent? Billwerk smart invoicing software will do that for you.
Once you link the software to your bank account, It will check for invoice payments and inform you about settled and unsettled debts.
Forecasting Cash Flow
Since Billwerk does invoice reconciliation, it can see how much money your clients owe you and when they should pay. That’s handy for predicting how much cash you will have in future – say next week or next month.
You can include your cost to the predictions and expect to get an alert of important events or predictions.
Create Online Invoices for Faster Payment
Rather than emailing your invoice as an attachment, you can set it up as a web page and send the link to your customers. You can set up this web page on Billwerk’s software.
You can always edit the online invoice without sending a bunch of emails. Also, customers can pay through the invoice without calling you or even visiting their bank’s website.
Billwerk billing and invoicing software allow you to add more than one business to your account.
Other features of Billwerk billing and invoicing software:
- Custom workflow management
- Billing portal
- Contact Database
- Contingency billing
- Customer portal
- Chargeback detection
- Project billing
- Accounting integration
- Error-free and professional business invoicing.
- Online payments
- Multi-step dunning
- Monitoring dashboard
- Tax calculator
- Product grouping
Billwerk has four different price models. Let’s explore what each plan offers.
Plan S – €5/ month
This plan covers up for contract management, discount, and coupons. Plus, it can support up to 100 contracts.
Plan M – €139/ month
Plan M is an extension of Plan S. It has all the features of Plan M plus role rights management, account reconciliation, and dunning. It can support up to 1000 contracts.
Plan L – €298/ month
Also, this plan has all the functionalities of Plan M. The only difference is that this plan can support an unlimited number of contracts.
Enterprise Plan – customized pricing
This Enterprise plan encompasses all the features of Plan S, M and L. Added to that, the pricing varies. You need to request for this plan.
Billwerk is a cloud-hosted software. You don’t need any unique application to access it. So whether you use Windows, Linux, Android, MacOS, or iOS, as long as it has a browser, you are good to go.
In addition to the English language, the software is available in German, Spanish, French, Italian, Dutch and Russian.
Billwerk has two pricing models – Quote based and Monthly payment.
The platform is useful to small, medium and large scale business enterprises.
The excellence of any online platform depends on how well they allow customers to get in touch whenever they have issues to resolve.
Billwerk is super easy to use. If you’re a first-time user of the software, you’ll find the tool user-friendly., The software offers valuable training and support, and documentation for new users.
Whenever you get stuck, you can contact a representative or resolve issues yourself via these channels:
To Wrap It Up
Managing invoice workflow and getting timely payments for all goods and services you sell can quickly become overwhelming to handle. Nonetheless, every business needs a platform that supports them.
Online billing and invoicing software is a wise investment. You can access all previous invoices for your customers on one platform. Also, billing and invoicing software helps you access any details that you might need in the future.
Billwerk covers a host of different features to help businesses simplify the somewhat complicated process.
The software makes the entire experience of billing and invoicing as easy as a few clicks. Thus you’d have adequate time for other productive business engagements.
You want to give Billwerk a short for your billing and invoicing needs.