What to look for when opening a new business bank account
Read the blog to know which factors should be considered while you decide to open a new business bank account for your own business.
6 mins
Every small business needs to invoice its end customer to efficiently record and manage the incoming accounts receivables. There are multiple invoicing in the market right from very simple ones to those loaded with advanced capabilities. Most often than not, small business owners end up subscribing to an invoicing solution that either does not meet the requirements or ends up being much more than what they actually need. streamline your decision-making, you can focus on the below-given key factors while making this decision.
1. Identify Needs: The first step will be to correctly assess all objectives you are trying to accomplish with your invoicing solution. This will allow you to identify the features and capabilities that the invoicing solution must have and will be sufficient enough to meet your identified business objectives. Doing so will ensure you don’t end up choosing an incorrect solution provider.
2. White label Invoicing: Since invoices you generate are sent to your end customers, it will also act as a tool for establishing your brand awareness in the minds of your customers. Therefore, prefer to choose an invoicing solution that allows you to create invoices on a white-label basis.
3. Template Customization: If you are willing to pay a little premium, then it can allow you to customize invoice templates. This enables you to structure invoices exactly as per your business needs. You will end up having better control over the end-customer user experience.
4. Invoicing Delivery: A good invoicing solution will allow you to deliver generated invoices through multiple physical and digital channels. This is an important feature as your end customers will prefer to receive invoices through a delivery channel of their own choice and convenience. Additionally, it will ensure that a high percentage of invoice dues are closed on time if the end-users get the invoices on their preferred channel.
5. Embedded Payment Link: If one feature that will set your invoicing solution apart from the rest in the market is embedded payment links. It will allow your end customers to pay using your payment links immediately at the time of accessing the invoices. Payments links will take your end-user experience a notch higher than the standards being followed by the rest.
Otterz's invoicing solution is focused on the niche requirements of small businesses in the US. The solution is easy-to-use with the right mix of features and capabilities that should meet the needs of most small business owners. It allows you to generate invoices on a white-label basis thus allowing you to reinforce your brand awareness and recognition. You will be able to create invoices as well as estimates which can be delivered across multiple digital channels like email, text, chat, etc. Additionally, it allows you to embed your payment links in the generated invoice itself, thus allowing your customers to clear the dues immediately.
