Accounting functions for businesses small and big has often been related to a long-drawn process involving many phases of calculations, multiple levels of entry etc. With the coming of the digital era and accounting software, big companies have been quick in integrating their finances with automated billing systems and tools. With small businesses and micro SME’s forming a sizeable component of the Indian Economy, there is a need to ensure that they integrate their accounting systems with modern tools and apps for better management of billing and effective invoicing. The benefits are many- from efficient management of finances to saving of costs on overheads, micro-SMEs and businesses have a lot to gain from by adapting the right automated billing system such as SpiderG.
Speaking about the nature of small business, the key features include-
- Recurring bills and payments
- Pending bills and payments
- Manual customer database
- Overdue payments
- Reconciliation of statements on periodical basis
- Single entity run by owners themselves. Owners take care of the logistics, administration, accounts and finances, payment follow-up, payment of taxes etc.
Businesses like monthly utility supplies, laundry services, milk and groceries, transport services, catering and tiffin services, fitness classes such as Yoga, aerobics etc. fall under this category.
Typical problems and issues
Most often than not, micro-SMEs have to multi-task and handle all the functions that are core for the business. To everyone’s knowledge, managing finances and accounts can be daunting and can take a toll on health and finances. There is unnecessary energy and manpower spent for the management of accounts and finances, causing burden on the expenses and overheads. There are other issues faced by these SMEs as well; which may include some or all of the below mentioned problems.
- Payment collection is a big task and default of payments is a common occurrence.
- Maintenance of accounts and regular entry to be done manually
- Extreme reliance on manual functions and accounting processes
- Lack of access to credit and funds
- No scope for scaling up and growth owing to paucity of funds
How can Automated billing system help them?
With a host of features that they are loaded with, automated billing system is a perfect solution for accounting and billing purpose for small businesses.
- Prompt reminders, automated payment follow-ups
- Reconciliation of statements on real-time basis. As and when payments are made or received, reconciliation of statements take place on real-time basis and within minutes. This ensures that the owners have complete access to their finances at a click of a button.
- Migration of data from physical to digital form
- Minimal costs and expenses-Automated billing software such as SpiderG is a free-to download app, that attracts minimal costs on per-click basis
- Transparency of accounts and tracking of finances right at the click-of-a-button
- Easy access and Dashboard view of all the payments due
Why Think? Switch to SpiderG
SpiderG is an online automated billing software that is designed particularly for the use and benefit of small businesses and micro-SMEs. The app is loaded with a host of features for efficient functioning of the business as a result of which businesses can reduce unnecessary strain on overheads, save energy, costs and expenses. Since the app is designed for small businesses, there are a host of benefits that one can reap from this free-to download app, right at the click of a button. To sum up things in a nutshell, in this era of digital world, automated billing software such as SpiderG is a great tool for managing your finances and accounts effectively and efficiently.