Faster Invoice Collections, Invoice Collections process, invoice collection software

Did you Try the TRIO for Faster Invoice Collections – Payment Links, QR Codes and Automated Reminders?

Invoices are critical as they help businesses demand payments. It is a legally binding agreement containing the price, quantity, and payment conditions to help in record maintenance, payment tracking and easy tax filing.

What is invoice collection process?

Invoice collection process refers to the process of getting paid for products or services. It involves sending invoices, informing customers about their invoice due dates, and manually following up if any particular payment is not received. 

The traditional invoice collection process is time-consuming, redundant, and requires a lot of effort along with sending and tracking multiple manual reminders.  

Why not try the TRIO for faster invoice collections – Payment links, QR codes and automated reminders? 

VICCAS is an all-in-one solution to help businesses with faster invoice collection by generating payment links, and QR codes and sending payment reminders to enable real-time payments.

Invoice Collections Automation with VICCAS

Small and medium businesses can easily automate their invoice collections process by connecting their existing ERP or accounting platform with VICCAS which has zero process change. This enables real-time visibility of cash flow.  

With automation and digitization of invoices, one can generate QR codes and payment links and share them via various channels with the customers to complete the collection process on time.  

Scheduling payment reminders helps to remind people to pay, keep track of payments, and handle relevant disputes.

What are the major challenges faced by businesses in invoice collections?

  1. Manual invoicing, reconciliation and delayed collections.
  2. Several hours of manual chasing and follow-up calls for overdue payments.
  3. Traditional and time-consuming payment methods.
  4. Incomplete and inaccurate invoices.
  5. Invoice management challenges and payment disputes.
  6. Distant collections and limited modes of payments.

To solve these major issues, businesses can opt for VICCAS to receive real-time payments, automate cash flow and track overdue payments, automate invoices, and share payment links and reminders via multiple channels. 

With VICCAS, businesses improve their efficiency, take part in informed decision-making, plan for better expansion, and growth, and save efforts, time and money.

How do I collect payment from invoice?

Businesses can collect payment from invoices with the help of payment links and QR code generation. These can be shared across various channels and also in the form of payment reminders to business customers.  

Traditional and distant payments are now replaced by instant and contactless payment options by platforms like VICCAS.

Small and medium businesses can generate both invoice-linked and online payment links with the help of VICCAS in voice collection services. Automated reminders can be customized to send out reminders at set times, and businesses can get paid well within the due date. 

MSMEs can also generate QR codes that their customers may scan to make payments on time.

  1. Get paid instantly with Payment Links – The generated payment links are sent out over multiple communication channels like WhatsApp, SMS, and email.
    • a) The payment link can be used for collecting pending amounts and can initiate immediate collections.
    • b) Businesses will receive payments from their customers on time through the payment link via multiple payment modes like net banking, UPI, credit card and debit card.
    • c) The static payment links allow them to collect a particular fixed amount from multiple customers repeatedly.
  2. Generate QR codes – Businesses can generate QR codes and share them across channels to collect payments from their clients.
    • a) QR codes are safe, comprise data encryption, and are simple, easy and quick to use.
    • b) Help to manage cash flow better to settle payments instantly.
  3. Share Automated Payment Reminders – VICCAS invoice collection software allows MSMEs to send automated invoices and reminders to customers about their payment due dates.
    • a) You can set the time and frequency of the reminder to be sent.
    • b) Payment reminders can be customized as per the needs of the seller/buyer.
    • c) Businesses get paid within the due dates and allow better planning.

What are the benefits of using VICCAS for faster invoice collections?

  1. The payment links and QR codes enable quick contactless payment collections instantly and help you get relieved of manual chases and difficult distant collections.
  2. Safe and secure transactions with a hassle-free experience and seamless business journey.
  3. Gentle and professional reminders can be set up to ensure smooth payments and collections.
  4. It helps save time, energy and money.
  5. The historical business reports can be accessed later, and a smart comprehensive dashboard can be refereed for business use.
Why is invoice collection important for your business?
  1. Maintenance of business records – Invoices help maintain legal records of the sales that occurred, the items sold, the seller and buyer details, the payment amount details, terms and conditions.
  2. Tracking payments and collections Both the seller and the buyer can keep track of their payments and amounts owed.
  3. Easy tax filing Recording and maintaining all sale invoices helps the company report its income and ensure that it has paid the proper amount of taxes.
Have you tried VICCAS for faster invoice collections?

Businesses that are still dependent on manual invoicing and cash flow management can easily bring a swift change by automating their operations.  

VICCAS allows businesses to automate the invoicing process and ensures payments on time from their customers. Automated invoice collections are fast, easy and affordable for every MSME that is willing to complete payments in a shorter time period by –

  1. Generate payment links.
  2. Creating QR codes.
  3. Sharing automated payment reminders.

 This festive season, VICCAS is available at exclusive prices until 26th November 2023!

  1. 3-month subscription: Now, At just INR 800 instead of INR 900.
  2. 6-month subscription: Now, At just INR 1500 instead of INR 1800.
  3. 12-month subscription: Now reduced to INR 2800 from INR 3600.
Why VICCAS GST software is the best to comply with GOI GST mandates

Grab the BEST OFFER today and book your free trial session with our expert team. 

Frequently Asked Questions

How payment links help in billing collection method?

1. The payment links allow quick and easy contactless billing collections instantly.  
2. Businesses need not manually follow up and wait eagerly for distant collections.  
3. VICCAS allows sharing of payment links across WhatsApp, SMS, and email. 
4. Payments can be completed using debit/credit card, net banking and UPI.

What are the benefits of invoice collections for B2B business?

1. Boosts cash flow, helps businesses invest in their daily operations, pay their obligations on time.
2. Save the administrative costs of chasing delayed payments.
3. Better customer relationships to attract more deals.
4. Helps in forecasting and planning.

How do automated invoice collections benefit businesses?

1. Saves time, money and extra effort spent over manual invoice generation and follow-up.
2. Automated cash flow management and reconciliation.
3. Shorter payment periods.

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