What You’ll Learn
- Which invoicing software features help you get paid on-demand
- How Hopscotch’s unique features accelerate the payment process
Invoicing software with early payment processing gives you more flexibility with your money. With the right invoicing options, you don’t have to change your invoice schedules or put pressure on your clients in order to keep cash flowing.
Can invoicing software get you paid faster?
Yes, invoicing software can get you paid faster through a few possible methods.
First, clients may pay faster if the white-label payment gateway is easy to use. The gateway might offer multiple payment methods, simple navigation options, or send helpful reminders before the invoice due date. Clients are more likely to pay on time if the user experience is frictionless.
Second, invoicing software can help you get paid early through an invoice factoring feature like Flow. Regardless of your client’s payment terms, Flow gives you access to 90% of the invoice amount in just a couple clicks—much quicker than other alternative or traditional lending methods.
Of course, getting paid faster isn’t the only financial benefit to consider. What about the cost of the software (and can you get it for free)? Learn more about how much white-label invoicing software costs.
How invoicing software can get you paid faster
For a small business, cash flow is essential. So getting paid faster can be the difference between success and failure. The best invoicing software simplifies payments and gets you paid faster by optimizing the payment experience for both you and your clients.
Methods
One type of payment method likely won’t work for all your clients. Invoicing software that supports multiple payment methods like credit card transactions or ACH and EFT transfers can help retain your clients.
Clients and customers can choose their preferred methods—which helps them pay on time without worrying about changing their own patterns or learning a new process.
Scheduling
Without digital tools like invoicing software, clients would have to manually initiate payments. Sending payments takes time, and deadlines are easy for some clients to forget.
Using invoicing software, clients can pre-schedule payments or even plan for recurring payments. This allows them to fit payments into their workflow at their convenience, without having to deal with money leaving their accounts at the wrong time. Giving clients the ability to pay instantly also means they can choose to pay early.
Tracking
Do you know when a client sees your invoice? A tracking tool in invoicing software gives you date and time stamps for when someone views your invoice, much like the way you can track opened emails in your CRM.
With this information, you can better tailor any follow-up communication to prompt quicker payments. For example, if a client routinely misses your invoices, you can update their contact information to send invoices to an inbox they check more often.
Reminders
Some invoicing software simplifies client communication, giving you customized options for automated messages and reminders. Automated reminders can prompt clients to pay invoices before they are due, reducing late payments and relationship friction.
Automation tools also reduce the need for manual follow-ups, freeing up your time while still helping you receive your payments quickly.
Notifications
Automated notifications aren’t just for prompting your clients. They can give your business more sophisticated visibility into payment status and provide insights about cash flow as well. Invoicing software should notify you immediately when a payment has been processed.
This feature can help you keep track of your ingoing and outgoing payments in real time—without having to check in for updates. You can then access and take the next steps with your money as quickly as you want.
Learn more about the benefits of white-label invoicing software.
Use Hopscotch Flow for even more payment freedom
All these features are important for any invoicing software, but some invoicing software solutions have even more to offer. With Hopscotch as your invoicing software, you can access Hopscotch Flow for invoice factoring and get paid before a client pays you. This means your business gets access to cash quicker without any awkward conversations or negative impressions to your clients.
Here’s how it works: use Flow to accelerate 90% of an invoice amount straight to your account. When a client pays their invoice, you get access to the rest (minus a small service fee). On the client end, they won’t know if you choose to get paid early. They simply process their payments as usual.
Additional cash flow control and management like this through your invoicing software gives you more flexibility and freedom with your money. Learn more about how to choose the right invoicing software.
Other reasons to love invoicing software with early payment options
Getting paid early is great, but what does that mean for your business? Hopscotch B2B invoicing software users love these benefits of early payment:
- Improved cash flow: Instant access to revenue means improved cash flow across the board Your business can use that capital to pay bills or invest in other parts of your business.
- Reduced administrative burden: Payments processed through invoicing software take less administrative oversight from you. No waiting for payments and no repetitive, manual input saves your team time and stress.
- Strengthened client relationships: Hopscotch Flow doesn’t require credit checks or third-party communications with your clients. Instead, you maintain trust and privacy with your clients for rock-solid relationships.
- More affordable and faster than traditional lending: Hopscotch Flow only charges a small fee for access to instant cash flow, making it more affordable than other factoring options. Plus you can get approved in less than 48 hours, unlike with traditional small business loans that can take weeks to apply for.
Invoice with Hopscotch and get paid faster with Flow.
Bret Lawrence
Writer
Bret Lawrence writes about invoicing and cash flow management at Hopscotch. Her previous roles include senior financial writer at Better Mortgage, where she covered lending and the home buying process. Her writing is not financial advice.
