HOW TO FIND THE BEST ONLINE BILLING SOFTWARE

HOW TO FIND THE BEST ONLINE BILLING SOFTWARE

The online billing software market is continuing to grow and is becoming saturated with many different options. There are some solutions specifically geared toward start ups and small businesses, while others are for large global organizations. There are some with endless functionality, while others have just the basics such as invoice presentment and payment. When you start your journey to look for an online billing software solution that is the right fit for your company, you want to make sure that it will be a good investment.

In order to best fit the online billing software to your business, there are a few steps you should take before jumping in and evaluating options. This will ensure that the software is tailored to your size company, industry and billing needs. We’ve highlighted these 5 steps below.

5 STEPS TO FINDING THE BEST ONLINE BILLING SOFTWARE
DEFINE YOUR CURRENT A/R PROCESS

Before you start searching for online billing software, you should start by defining what your current billing process entails. By doing this, you will be able to decipher whether the software solution can meet all your needs. Write all of these processes down, such as when you invoice your customers, how often you send reminders, what payment options you currently offer your customers, your process for escalating disputes and more. All of these current processes will come in handy when tackling the next step, defining your needs.

DEFINE YOUR NEEDS

Now that you have described your current processes, it’s time to decipher these processes into needs. For example, if you currently have a lot of customers that are paying via credit card, it’s important that whatever online billing system you choose has the ability to accept credit card payments. Map out what would be considered a deal breaker if your research on online billing software comes up with solutions that don’t meet all of your needs. Make sure to keep your needs separate from your wants. These wants can steer you off of your path from finding an online billing software that actually will help you reach your goals, such as wanting a solution that has texting capabilities, even though you currently don’t need to text your customers their billing information.

USE SOFTWARE DIRECTORIES

There are few different software directories out there that can help you find the right online billing software, or any software solution you are looking for. These directories keep software companies in categories to help you narrow down your search quickly, instead of having to discover these solutions by Googling on your own. Each company’s page contains product details such as pricing, deployment, training and support, as well as screenshots of the software. Most importantly, these directories include reviews from real customers currently using the software, giving you a better view at how it all works. Our favorite directory is Capterra, but you can also check out Software Advice, GetApp and G2Crowd.

REQUEST DEMOS AND QUOTES

Now that you have narrowed down your search for online billing software solutions by doing some research and deciding which ones best meet your needs, it’s time to reach out to these companies. Most companies will have the ability for you to request a demo on their website. Reach out to every online billing software company and schedule a demo. If you still think the software is a contender after seeing the demo, then request a quote. This will help you to narrow down the field even more, and possibly even knock out a few right away.

MAKE A DECISION OFF OF LONG TERM GAINS

Now that you have narrowed your decision down to just a couple online billing software options, you need to make a decision. It’s important not to make a decision off of just one factor, such as price. Take into account all the pros and cons of each. Even though one might be the most expensive, is this one that will continue to be a good fit for you years down the road? If it is scalable in this way, the more expensive option will be a better investment long term.

ACCOUNTS RECEIVABLE SOFTWARE BUYERS GUIDE

Check out our guide to learn more about how to choose the best option for you and what’s available on the market.
Read the guide here.

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