Compare Our Best Picks of Invoicing Software
|Accounting software||Use case||Starting price||Free trial period||Mobile applications||Integration options||Bill pay tools|
|SAP Concur||Self Employed professionals||$10.00 per month||N/A||Yes||Yes||Yes|
|Airbase||Startups||$15.00 per month||14 days||Yes||Yes||Yes|
|Stampli||Online merchants||$15.00 per month||No||Yes||Yes||Yes|
|Zoho||Microbusinesses||$9.00 per month||30 days||Yes||Yes||Yes|
|Bill.com||Freelancers/self-employed||$45.00 per month||30 days||Yes||Yes||Invoicing|
|Avidexchange||Growing businesses||$5.00 per month||30 days||Yes||Yes||Yes|
|Webexpenses||Free accounts payable||Free||N/A||No||Limited||Yes|
|Tally Prime||Automating accounts payable||$15.00 per month||30 days||No||Limited||Yes|
|Invoice Ninja||Mid-sized business||$15 per month||30 days||Yes||Yes||Yes|
|Invoicera||Invoicing||$9.00 per month||30 days||Yes||Yes||Yes|
What is Invoicing Software?
Invoice management software is a tool that helps businesses automate the process of creating, sending, and tracking invoices. This software can manage outgoing invoices (sent to customers) and incoming invoices (received from suppliers). When companies or accounting departments hear “automation,” they often think of accounting software that can automate bookkeeping tasks.
By streamlining the entire invoicing process, invoice management software can save businesses time and money. With automation, businesses can avoid the hassle of manually creating invoices, tracking them, and following up with customers for payment.
12 Best Invoicing Software for Small and Large Businesses
1. SAP Concur
Sap Concur solutions eliminate manual processes, so businesses can focus on what they do best. The company offers solutions that automate and control the entire travel and expense management process.
- Sap Concur provides an end-to-end solution that includes travel booking, expense reporting, and reimbursement.
- The software integrates with existing accounting and financial systems, so businesses can continue to use their current processes and workflows.
- The 100% audit trail gives businesses visibility into all aspects of the invoicing process.
Perhaps most importantly, businesses can use Concur to control costs and improve compliance. Choosing this option allows businesses to manage all aspects of travel and expense management in one place.
- It offers a mobile app that makes it easy to capture receipts on the go
- It also offers a wide range of integrations, including accounting software
- Provide a single platform for managing travel and expenses
- Enhance policy compliance
- The basic plan is relatively expensive
- The user interface can be confusing for first-time users
Read more – 10 Best Expense Management Software
Airbase is a comprehensive invoicing software that scales with many startup companies. This software is also available in a free version for small businesses. Airbase has an intuitive interface known for its easy-to-use automation capabilities.
- With Airbase, businesses can manage their outgoing invoices, track payments, and generate reports.
- Airbase also offers automatic reminders, custom branding, and advanced approvals.
- It is one of the only software on our list that offers ACH payments
- The built-in approvals and spending limits help keep track of the expenses.
Airbase is a good choice for businesses that require multiple approval levels for invoices. This software is also suitable for businesses that need to track outgoing payments. All the non-roll spend of the company, like travel, marketing, and office expenses, can be managed using this software.
- Allows businesses to pay their employees and contractors as soon as they submit their expenses.
- Offers a rewards program that gives businesses cash back on every purchase made through the software.
- It probes all the non-revenue spending of the company.
- Improvement in the overall cash flow of the business.
- This software can be complex to use.
- It is not suitable for businesses with simple spending needs.
Read more – 10 Best Travel Management Software and Systems
Stampli is a complete automation platform that helps manage the invoice process from start to finish. Automating the process reduces the chances of human error, speeds up the process, and ensures that all invoices are paid on time. It eliminates the errors that can happen when manually processing invoices.
- It offers many features such as creating and sending invoices, tracking payments, setting up recurring payments, and more.
- The recipient-created invoices feature allows businesses to track and manage invoices created by their customers. This can be helpful for businesses that sell products or services online.
- More than just invoicing software, contract management software also includes powerful tools for creating, editing, and signing contracts.
- Other features include customizable templates, automated reminders, online payments, and integrations with accounting software.
It aids businesses with dispute management and automated payment processing. Ideal for small businesses and freelancers who need simple invoicing software with powerful features. Choosing Stampli means businesses can automatically keep track of payments, send reminders, and manage their finances efficiently.
- The free version of the software is suitable for small businesses.
- Larger businesses can choose from monthly or annual subscription plans.
- It ensures that all invoices are paid on time.
- Provide support for multiple languages.
- The software can be complex for businesses with elementary needs.
- The user interface is not as intuitive as other options on this list.
Read more – 10 Best Accounts Payable Software
4. Zoho Invoice
This cloud-based invoicing software from Zoho allows businesses to create, send, and track invoices. It also offers online payments, recurring invoices, and expense tracking. The software is available in a free version for small businesses.
Zoho Invoice integrates with other Zoho applications as well as third-party applications. This makes it easy to track and manage all the financial aspects of the business from one place. More than 75% of businesses said they were able to get paid faster with Zoho Invoice.
- Businesses can set up automated reminders and online payments to improve the payment process.
- The software also offers a wide range of templates that can be customized to match the business’s branding.
- Zoho Invoice offers excellent customer support with telephone, email, and live chat options.
- There is also an extensive knowledge base with helpful articles and video tutorials.
Zoho Invoice is an excellent choice for businesses looking for an all-in-one solution to manage their finances. The software is easy to use, provides a free trial, and is reasonably priced. With a wide range of features, businesses can find everything they need for invoicing and payments in one place.
- It enhances customer satisfaction.
- The software is very easy to use.
- There are many customization options available.
- The free trial is a great way to test the software.
- Some users have reported issues with the payment gateway.
- Tracking expenses can be difficult.
- It is a little bit limited in terms of customization and reporting.
Read more – 10 Best Billing Software
Spendesk is a complete management solution that helps businesses automate and control their spending. It offers 100% visibility into the company’s spending, so businesses can make informed decisions about where to allocate their resources.
- With one look, businesses can see all their transactions in one place. This helps them track and manage to spend more effectively.
- The software also offers a wide range of features such as setting up spending limits, tracking expenses and creating reports.
- The mid-range and enterprise plans offer even more features such as advanced spend management, automated approval workflow, and integrations with accounting software.
Spendesk is an excellent choice for businesses looking for a complete spend management solution. It is a 7-in-1 solution that covers all aspects of spending management. The insights and reports provided by Spendesk help businesses make informed decisions about their spending.
- Spendesk also provides a virtual card that can be used for online and offline purchases.
- The software is available in a free version for small businesses.
- It also offers a live chat support option.
- Ensures that businesses have complete control over their spending.
- The free version is limited in terms of features and integrations.
- It does not have a mobile app.
- Small businesses might find the monthly fee expensive.
Read more – 10 Best Accounting Software
Created with small businesses in mind, Bill.com is an end-to-end solution that helps businesses manage their finances. In addition to invoice management, Bill.com can handle payments, accounts receivable, and accounts payable. It reduces the time businesses spend on administrative tasks to focus on their core operations.
- Integrated payment systems help businesses automate their accounts payable and receivable processes.
- Bill offers customizable templates and workflows to fit businesses’ needs.
- Helps businesses manage their cash flow by giving them visibility into their bills and payments.
- The online invoice management system aid businesses in staying compliant with tax regulations.
Over 2 million businesses use Bill.com, not only in the US but also in other countries. Bill.com is a good choice for businesses looking for an all-in-one solution to manage their finances. The modern interface is easy to use, and the software integrates with QuickBooks and Xero. Choosing Bill.com means businesses can focus on their core operations and leave the administrative tasks to the software.
- There is also a 30-day free trial for businesses to try out the software.
- Businesses can choose from monthly or annual subscription plans.
- It is easy to use and has a modern interface.
- Improves business cash flow.
- Some users have complained about customer support.
- The learning curve can be steep for some businesses.
Read more – Duplicate Invoice Payments
With a focus on automating the accounts payable process, AvidXchange offers a suite of products that businesses can use to manage their invoices and payments. AvidXchange has 210 integrations and offers a mobile app for iOS and Android devices. Gone are the days of manually processing invoices and payments.
- With AvidXchange, businesses can automate their accounts payable process to save time and improve efficiency.
- As a cloud-based solution, AvidXchange can be accessed from anywhere, at any time.
- Some exciting features include automated payment reminders, improved cash flow, and reduced late payments.
AvidXchange is a good choice for small businesses that want to automate their accounts payable process. The software has many integrations and offers a mobile app for on-the-go invoice management. It also ensures that businesses get paid on time by automating payment reminders.
- The software is available in a free trial version.
- Pricing starts at $5 per month per user.
- It probes for duplicate invoices to avoid errors and duplications.
- The software offers a mobile app for iOS and Android devices.
- The software is unsuitable for businesses that want to track inventory.
- It does not offer live customer support.
- You may find the user interface difficult to navigate.
Read more – What is E-Invoicing?
It is an award-winning global expense management software that gives businesses visibility and control over their expenses. Webexpenses solution is available in 70 Countries and supports 16 languages. It offers a 100% digital workflow with real-time policy enforcement to reduce the risk of fraud.
- Policy reinforcement ensures that employees stay compliant with company spending guidelines.
- A proven compliance record reduces the time spent on audits and makes it easy to catch errors.
- Other features include multi-level approval workflows and audit trails.
- With Webexpenses’ global expense management solution, businesses have visibility and control over employee spending.
Up to 30% of expenses can be automated with the software. It procures real-time data for better decision-making. Businesses can go paperless and save time with the software. The software offers a great deal of transparency. Choosing webexpenses gives businesses the confidence to know that their expenses are controlled.
- Webexpenses also offers mobile access for iOS and Android devices.
- It is an excellent choice for businesses with a global presence.
- The software is easy to use and offers great transparency.
- Webexpenses doesn’t offer integration with payroll systems.
- It doesn’t have a dedicated customer support number.
Read more – What is Invoice Financing?
Tally prime is a GST-ready ERP software that helps businesses manage their invoices, payments, and inventory. Over the years, it has evolved into a comprehensive business solution for small and medium businesses.
- Generate GST invoices in seconds
- Manage inventory and track stock levels
- Accept payments online
- Integrated bank reconciliation
- Some other exciting features include automated GST filing, real-time tracking of stocks, and instant reconciliation of ledgers.
TallyPrime is a good choice for businesses that want an all-in-one solution to manage their finances. TallyPrime is a good choice for businesses looking for an all-in-one solution to manage their finances. With 400+ business reports and analyses, businesses can make informed decisions about allocating resources. The software is easy to use and offers a mobile app for on-the-go invoice management.
- It is available in a free trial version.
- TallyPrime offers a mobile app for Android and iOS devices.
- TallyPrime can be customized to suit business needs.
- It offers more than 400 business reports and analyses.
- The free trial version is valid for only 14 days.
- It might take some time to get used to the interface as it is not user-friendly.
- It does not enable users to create custom reports.
Read more – Purchase Order and Invoices
10. Invoice Ninja
Invoice Ninja is a popular open-source invoicing software that businesses can use to create, send, and track invoices. Invoice Ninja provides a simple interface that businesses can use to create and send invoices quickly.
- Open-source to allow for customization.
- Tracks payments and provides analytics.
- Can be used to create, send, and track invoices.
- Accepting online payments.
Invoice Ninja is an excellent choice for businesses looking for a simple invoicing solution. Yes, you read it right. It’s open source and free for single users. It is simple to use with a clean interface and can be up and running in no time. You can track payments, send late payment reminders, and see powerful analytics. Best of all, it integrates with many popular applications such as PayPal, Stripe, and more.
- The software is available for free for single users.
- It also offers a paid version for businesses with multiple users.
- Must-have features such as tracking payments and late payment reminders are available.
- It integrates with popular applications such as PayPal and Stripe.
- The free version is only for single users.
- Paid plans are a bit expensive compared to similar software solutions.
Read more – E-Invoicing Under GST
11. Wave Financial
It is an online invoicing and accounting software for small businesses. right; it’s 100% free, with no catches or strings attached. The innovative invoicing features help businesses save time on billing and get paid faster.
- Online invoicing and accounting software.
- Generates reports to help with business decision-making.
- Get paid faster with online invoicing.
- Accepting online payments.
- Tracking inventory to make billing easier.
The B2B marketplace offers options, but businesses must be careful when choosing an invoicing solution. Many free solutions have hidden fees or limitations that can hurt businesses in the long run. Wave Accounting is the real deal, a free invoicing and accounting software businesses can use to save time and money.
- It probes all types of businesses.
- It has no hidden fees.
- Help businesses save Time on billing.
- It is very user-friendly.
- The innovative invoicing features help businesses save time on billing and get paid faster.
- It can be challenging to edit invoices once they have been created.
- Some users have reported difficulty importing data from other accounting software.
It is an automated billing and invoicing software that businesses can use to streamline their billing process. Invoicera is a cloud-based solution that businesses can use to manage invoicing, payments, and expenses. Over 2.5 million businesses worldwide use Invoicera to manage their billing efficiently.
- RI & RPA-powered automated billing and invoicing.
- Streamlined payment process.
- Multi-currency support.
- Creating professional-looking invoices.
Businesses can choose from three pricing plans, Basic, Professional, and Enterprise. It is globally available in eight languages. Invoicera gives insight into businesses’ spending, so they can make informed decisions about where to allocate their resources. The AI and RPA-powered automation help businesses save time on billing and invoicing. Integrating popular payment gateways makes it easy for businesses to get paid.
- Automated recurring billing saves time.
- Late payment reminders help ensure timely payments.
- Reports and analytics provide insights into spending.
- Offers a free trial.
- Integrates with popular payment gateways.
- Some features are only available in the paid plans.
- Does not offer phone or email support.
- Only businesses with an annual turnover.
Read more – Bookkeeping vs Accounting
What Types of Invoice Management Software Exist?
It is essential to know that there are different types of invoice management software, each with its purpose. Here are some of the most popular types:
a) Online invoicing software
This software allows businesses to create, send, and track invoices online. This can be an excellent option for businesses that want to save time and money on printing and mailing costs. Online invoicing software can also help you stay organized by keeping all your invoices in one place. Generally, online invoicing software will offer features like custom branding, automatic payments, and multi-currency support.
b) Desktop invoicing software
This software is installed on your computer rather than accessed through the internet. Desktop invoicing software can offer many of the same features as online. Still, it may be a better option for businesses that do not have a reliable internet connection. When we talk about the best desktop invoicing software, one program that comes to mind is Microsoft Excel.
c) Mobile invoicing software
As its name suggests, mobile invoicing software can be accessed from a mobile device like a smartphone or tablet. This can be an excellent option for businesses that need to send invoices on the go.
Mobile invoicing software generally offers GPS tracking, push notifications, and signature capture. Anyone can easily manage the billing and invoicing tasks without worrying about the separate software for each task.
Read more: 5 Simple Ways to Improve Invoice Processing
Features to Look For in Invoice Management Software
The best invoice management software will make your life as a business owner or manager much more accessible. With the right solution in place, you can automate many time-consuming tasks associated with invoicing, from creating and sending invoices to tracking payments and managing customer records. Not all invoice management software is created equal, however. When evaluating solutions, look for the following features:
1. New invoice creation
Allows businesses to quickly and easily create new invoices. This feature should include customizable templates so businesses can match their invoices to their branding, as well as the ability to save everyday items or services for future use. Extracting and integrating data from various software should also be possible.
2. Recurring invoice functionality
This functionality can save time if your business regularly bills customers for recurring services. Recurring invoicing allows businesses to generate and send invoices on a regular schedule automatically. This feature is handy for businesses that provide subscription-based services. Multiple payment frequency options should be available, including weekly, monthly, and yearly.
3. Integration with accounting software
The best invoice management solutions integrate your business’s existing accounting software. This allows businesses to avoid the hassle and wasted time associated with data entry. It also eliminates the risk of human error, as data will only need to be entered into the system once.
4. Multiple currency setting
If your business sells products or services to customers in other countries, you’ll need an invoice management solution to handle multiple currencies. This feature should allow businesses to easily set prices in different currencies and send invoices in the customer’s local currency. The paper invoices should also be able to show the exchange rate used.
5. Tracking inventory levels
If your business sells physical products, you’ll need an invoice management solution to track inventory levels. This project tracking feature is essential for businesses that sell products subject to change, such as clothing or electronics. The software should be able to update track time inventory levels when invoices are generated automatically, and payments are received.
Read more – What is an E-Receipt?
Who Needs Invoicing Software?
This is a far cry from the traditional way of doing things, which often involved a lot of manual data entry, missed deadlines, and late payments. Invoice management software can automate many tedious and time-consuming tasks associated with invoicing, such as sending out reminders, issuing late fees, and tracking payments. Many of these programs can also integrate with your accounting systems, making keeping track of your finances even more accessible.
When we say who needs invoice software, we mean who needs to save time and money on their invoicing process. This can include small businesses, freelancers, and even large enterprises. Anyone who sends out a significant number of monthly invoices can benefit from using an invoice management system. It reduces the risk of human error. Let’s discuss who needs invoice management software in more detail.
1. Small Businesses
Generally speaking, small businesses have a lot to gain from using invoice management software. This is because they tend to be short on workforce and time, and anything that can automate or streamline their invoicing process is a big help. With invoice management software, small businesses can focus on other areas of their business while still getting paid on time.
Sometimes the billing and invoices tasks are delegated to someone who is already overworked, which can lead to mistakes. With software, you can take some of the burdens off of your employees and ensure that invoices are sent out correctly and on time.
Freelancers also stand to benefit from using invoice management software. This is because they often have to deal with many clients, each with their billing preferences. Keeping track of all of this can be a full-time job, and staying on top of things can be difficult. Accounting systems like FreshBooks make it easy to track your finances and can also help you automate your invoicing process.
This way, you can focus on growing your business instead of being bogged down by paperwork. Freelancers can also benefit from many of these programs offering billing software integrations. This means you can track your payments and invoices in one place, making it easy to see who owes you money and when they need to pay up.
3. Large Enterprises
While small businesses and freelancers can benefit from invoice management software, even large enterprises can find it helpful. Enterprises offer to require professional invoices for their customers, and they often have to deal with a large number of invoices every month. In relation, they also have to track a lot of payments. This can be daunting, but it doesn’t have to be.
sdfsg4 The project management ap automation software can help you keep track of your duplicate invoices and payments, and it can also help you automate your billing process. This way, you can focus on running your business instead of worrying about late payments or missed deadlines. The business transactions are stored in a secure environment, and you can access them anywhere.
Read more: What is Invoice Financing?
Benefits of Invoicing Software
Aside from getting paid on time, invoice management software has many other advantages. These include:
1. Minimize late payments
An invoice management software can automate and keep track of payments. This means you are less likely to have customers who don’t pay on time. In addition, it can also help you to follow up with customers who are late in paying.
2. Improve customer relations
Every business relies on good customer relations, whether a small mom-and-pop shop or a large corporation. An invoice management software can help you improve customer relations in several ways. For example, it can help you to keep track of customer invoices and payments. This means that you can always ensure you are getting paid on time. In addition, it can also help you to follow up with customers who are late in paying.
3. Maintain a professional brand image
If you’re working with clients, it’s essential to maintain a professional brand image. This means having your ducks in a row when it comes to your invoicing. An invoice management system ensures that your invoices are consistent with your branding and always look professional. It automatically populates craft professional invoices with your business logo, information, and terms and conditions.
4. Get paid faster
No one likes to wait around for payment. An invoice management system can set up automated reminders to notify your clients when their payment is due. You can get paid faster and keep the cash flow moving. Fast billing software also allows you to set up recurring invoices for clients who need to be billed regularly. This means you can get paid even faster!
Read more – What is Cost Control?
Challenges with Invoicing Software
With many benefits, there are also some challenges that businesses face when using Invoice Management Software.
1. The biggest challenge is the learning curve. It can be difficult for employees to learn how to use the software and become comfortable with its features and functions. There is a bit of a learning curve associated with any new software. Still, Invoice Management Software can be more challenging than other types of software because it is designed to automate a specific task.
2. Another challenge is that businesses need to have a clear understanding of their invoicing process before they can implement Invoice Management Software. If a business doesn’t understand its invoicing process clearly, setting up the software to meet its needs will be challenging.
3. Invoice Management Software can also be expensive. The cost of the software can be a barrier for some businesses, tiny businesses.
4. Another challenge is that some businesses may not need all of the features offered by Invoice Management Software. For example, if a business only tracks invoices and doesn’t need to automate the invoicing process, it may get by with a less expensive solution.
Despite these challenges, Invoice Management Software can be a valuable tool for businesses of all sizes. The key is to find the right software for your business and to take the time to learn how to use it.
Read more – What is Procure-to-Pay (P2P) Cycle?
Invoicing Software – FAQs
1. How does invoicing software work?
Invoice Management software is designed to streamline and automate creating, managing, and paying invoices. The software typically includes features like online bill pay, automatic payment reminders, and dispute resolution tools.
2. Is invoicing software secure?
Yes, Invoice Management software is designed to be secure. The software typically includes features such as password protection and data encryption. You can be confident that your data is safe and secure.
3. How much does invoicing software cost?
The cost of Invoice Management software varies depending on the features and functionality you need. Essential software starts at around $10 per month, while more advanced options can cost up to $100 per month.
4. Is It hard to learn how to use invoicing software?
No, learning how to use invoicing software is not hard. The software is typically designed with a user-friendly interface. Most users can get started within a few minutes.
5. How many invoices can I create with invoicing software?
There is no limit to the number of invoices you can create with invoicing software. The software is designed to be scalable so that it can grow with your business.
6. What types of businesses use invoicing software?
Small businesses and freelance professionals typically use invoicing software. Businesses of all sizes can use the software, but businesses most commonly use it with a high volume of invoices to manage.