What is the best invoicing software?

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The best invoicing software is Freshbooks, an easy-to-use yet powerful solution for tracking time, sorting out expenses, managing invoices, and more. It can automate a good amount of day-to-day tasks too, so that you can cut time spent on paperwork while allowing you to make your invoices look more professional.

The COVID-19 pandemic has touched just every aspect of businesses. These include electronic data exchange, with many governments implementing or planning to implement regulatory changes concerning e-invoicing—and they got their sights on electronic invoicing software.

With that said, we have compiled the 10 best invoicing software solutions that could cater to the needs of different types of businesses. This article covers solutions that are at the top of their fields and can adapt to changing e-invoicing trends. Therefore, we can virtually guarantee that you’ll find one that fits your business’ needs.

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10 Best Invoicing Software Solutions For Your Company

The COVID-19 pandemic had companies favoring the use of e-invoicing systems, which carry with them digital payment options like ACH bank transfers and credit cards. A study conducted by Mastercard has revealed that 50% of businesses in North America have added digital collection systems. Aside from this, one in four companies has also moved to electronic invoicing in 2020.

With businesses realizing the benefits of invoicing software, many have transitioned to using the technology, moving away from using checks for B2B payments. However, this is not an entirely new development as an Association of Financial Professionals 2019 report has revealed that only 42% of B2B payments were made using checks. This shift is seen to result in the expansion of the global e-invoice market.

That said, it might be best that you do the same to optimize your operations. But before you do, you should make an educated decision when implementing such a solution in your company. After all, these are just as much an investment as other software solutions or business equipment.

So, to help you out, our team of highly qualified B2B experts and reviewers gathered the best invoicing software solutions currently in the market to give you the 10 best invoicing software solutions in the market for you to check out. We urge you to take a look and see what we were able to gather, and hopefully, we’d be able to help you out in finding the right ‘shoe’ to fit and try on.

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1. FreshBooks

FreshBooks is one of the leading invoicing software solutions available in the market with around 5 million businesses maximizing its capabilities. Freshbooks is perfect for small businesses that want to take on bigger and more complex invoicing tasks. Freelancers who want to give off more of that “professional” look to their business will also benefit greatly from how quick and simple it’s done on Freshbooks.

With Freshbooks, it is very easy to integrate into your business platform. Personalize and automate your invoices, so you don’t miss a payment. Improve communications between your teams and your vendors through collaboration. Completely do away with human error that can prove to be costly for your business. Stay on top of your business by automating invoicing alerts and be able to strategize your quarterly and even yearly projections using Freshbooks’ reporting capabilities.

If that’s not enough, Freshbooks is also available on mobile, so you can be on the go and still be able to keep up with your invoicing. If you want a simple, powerful, and easy-to-use solution, then Freshbooks is an invoicing software solution that you should consider.

FreshBooks

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2. NetSuite ERP

NetSuite ERP was created with scalability in mind, allowing businesses to streamline their processes as they grow. It’s capable of automating a large number of business processes such as fixed assets, financial management, inventory management, billing, and more. This will enable you to focus on your core business and easily adapt to new opportunities and risks along the way.

NetSuite’s invoicing capability is part of its core unified framework. This means that projects, subscriptions, and transactions are all connected to the billing engine, which, in turn, makes financial flow smooth and seamless. The platform can manage all types of subscriptions, recurrent billing, and complex rating models, regardless of your business’ volume of transactions.

NetSuite ERP

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3. Tipalti

Tipalti is a cloud-deployed end-to-end invoicing solution. Payment and invoicing automation is not just what it is good at but also tax compliance as well. This KPMG-certified app collects US tax forms automatically. It also generates 1099 forms at the end of each year. It is also able to identify and protect against illicit financial processes done by hapless victims of money launderers and other unsightly entities, so you are very well protected. This app can automate and streamline the generation of tax reporting, thus, allowing your team to perform other tasks and not have to pour precious time and effort into tax reporting.

On top of that, Tipalti has a very powerful reporting tool, so that your finance teams can generate more