Online invoices vs. paper invoices

We live in a digital world, and the times, they are a-changin’. The world we live in is quickly adapting to technological advances, and things that were relevant one day may be obsolete the next.

Invoicing software constantly becomes more intuitive and powerful. With advances like machine learning and cloud computing, it’s easy to keep track of your business sales online. 

This article explores how online invoicing compares to paper invoicing.

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Why switch from paper invoices to online invoices?

Many businesses are still using paper invoices and sending bills to customers by post. This can be time-consuming, create unnecessary costs, and cause risks from human error. 

Transitioning to online invoicing software, like SumUp Invoices, makes it quick and simple to send invoices to clients, and ultimately get paid faster.

Say farewell to paperwork with invoicing software

If you’ve previously dealt with paper documents, you understand the frustration that comes along with crumpled receipts in your pockets and stacks of paperwork and bills in your office. Having to search through a pile of paper to find one invoice isn’t realistic in this day and age.

Online invoicing software manages all of your paperwork, without the paper. All of your sales documents, like invoices, quotes and credit notes, are saved to the cloud and easily accessible at any time. If you’re not at the office, you can even access your documents from a mobile app.

Unsure if you should switch to invoicing software due to your technical abilities? Don’t worry, most invoicing software is designed to be straightforward and easy to use.

Save time and money with invoicing software

It takes time to create, process and send paper invoices. Some studies say that a single paper invoice can cost the company over £30! When you think about it, the costs do add up.

It can take an employee several minutes to hours to create an invoice on Word or Excel, or even write it by hand. You then have to print off the invoice, put stamps on the envelope, and take it to the nearest post box. There are a lot of extra costs involved in this method.

For a single paper invoice, you’re paying for the employee’s salary, the paper, the envelope, the stamp, and for the time it takes to get it to a post box. If you’re sending several invoices per day, these costs add up quickly.

You should also keep in mind that this method opens the door for human error which can take twice as long to correct. 

If you send a paper invoice to a client and they notice that the total is incorrect, you’ll need to manually write and send a credit note, as well as a new invoice. There’s also the possibility of your invoice getting lost in the mail.

If you switch to online invoicing software, it can take less than a minute to create an invoice and send it to your customer by email. The customer will get the email and you can receive your money on the very same day. 

If there are any mistakes, these can easily be corrected by creating a credit note directly from the original invoice. 

Get paid faster with invoicing software

With paper invoices, it can take days to months to receive the money you’re owed. With online invoicing software, you can receive your payment on the very same day. 

With invoicing software, you can put your bank account details on the invoice, so your customer can issue a bank transfer. With SumUp Invoices, you can also integrate a payment link directly on your invoice so your customers can pay instantly with a credit card.

When you issue the invoice with a payment link, the email will include a “Pay Now” button. This button will direct them to a secure webpage where they can enter their credit card information and confirm the payment. You’ll receive the money within one day, or within a few days depending on your payout settings. You can also easily connect a card reader for in-person credit or debit card payments.

Save the environment with online invoicing software

In 2021, the environment is on a lot of people’s minds. Some studies suggest that the average office worker creates 160 kg of paper waste, and over half of business waste is comprised of paper.

When you think about it, all of those paper invoices and envelopes will eventually be thrown away.

1 tree is equivalent to approximately 12,000 pieces of paper, but that one tree also produces enough oxygen for 3 people to breathe.

With all of this in mind, online invoicing software still gives you the option to print documents if needed, but you’ll be able to view and edit everything from the comfort of your computer screen.

You get the best of both worlds - you can print your important documents for your records while keeping the majority of your paperwork online.

Summary: Paper invoicing vs. invoicing software

With paper invoices, your choices are limited to using Word or Excel templates or writing them out by hand. This process can be time consuming, costly and is prone to errors.

Invoicing software can automate most of your invoicing processes. You can create an invoice in less than a minute, send it to your customer’s email and receive online payment quickly. 

Most small businesses prefer to use Word or Excel because they’re free to use. However, invoicing software, like SumUp Invoices, also has a free option. 

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