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The Invoiced app is an elegant automation software that helps businesses tackle their accounts receivable by automating processes. It is estimated that the software helps firms to get paid two weeks faster and reduce up to 95% of the time spent on payment collection. The company is a trusted member of the Forbes Financial Council and they have processed approximately $50 billion in receivables so far.
What is Invoiced?
Invoiced is an accounts receivable software that helps accounting teams to focus on more important financial processes without spending time on repetitive tasks. The platform is highly customizable so it can support high volume billers, installment payments, and many more.
The dashboard is straightforward and user-friendly. Its users have access to numerous controls and customization features required for the automation of receivables.
Some examples include creating invoices, checking analytics reports, payment history, and many more. The Invoiced app may also boost the bottom line due to its smart features as it offers more payment methods to customers, including autopay for recurring transactions.
- Creating invoices
- Analytic reports
- Payment history
Despite its straightforward interface, the Invoiced app is a great software that handles numerous tasks due to its flexibility.
Firstly, it supports multiple payments methods, including PayPal, debit, and credit cards.
It simplifies each payment method and lowers the cost of these transactions, offering a quicker processing time and boosting customer satisfaction.
The collection tools can be automated to different degrees, so each customer can automate the whole system or only a few parts of it.
This allows for a better focus on other daily operations. Flexible billing can be used to create different billing plans for autopay, online, and others, providing extra value and convenience to customers.
Invoiced app allows for multiple integrations, so the invoices and payments can be easily synced with the accounting platforms. This helps to streamline other accounting and HR tasks.
The subscription analytics is a highlight that is not so common for invoicing systems and helps the users to collect information regarding LTV, churn, and even MRR.
Some other excellent features include:
- Subscription billing that stores information for future transactions
- Customer portal with automated reminders timed transactions, and more
- Compatible with mobile or desktop
- Multi-currency invoicing
How to Use Invoiced
Invoiced can easily improve the cash flow through its Invoice-to-Cash module that helps to integrate online payments into the billing process, offering different safe and simple online transactions. Cashing is quicker through the automation of numerous tasks, such as its automated invoice chasing features.
Invoiced is a real asset for businesses with recurring revenues. The subscription billing process is less time consuming, as the Invoiced app has different plans, such as usage-based, standard, or variable.
In addition to this, the sign-up pages do not only allow customers to opt-in or choose a particular subscription plan, but also helps to save customer data and their payment information for future transactions.
Another great benefit of the software is the flexibility of the payment plan. For instance, in case some of the customers prefer incremental payments, the Invoiced app features the Payment Plans module which allows you to bill customers in incremental payments – this is an excellent feature for dental clinics, doctors, consultancy firms, and others.
All installment plans are fully customizable for each customer, allowing freedom of choice regardless of your preferences and needs.
Scheduled payments can also be automated. All you need to do is choose the online payments system or a channel. Upon the due date, the software collects the payment automatically.
In case of failure of rejection, Invoiced retries the payment on your behalf.
Finally, you can use the customer portal feature to help your clients manage their accounts. In this section, they can view all of their past and current invoices, any autopay plans, and much more, all presented in a user-friendly manner.
Invoiced Pricing Plans
There are three main plans offered by Invoiced. The Basic plan costs $100 per month and supports up to 100 customers, 5 users, and is billed each month. Additional users cost $25 each, while additional customers are $2 each. It can be integrated with Xero, QuickBooks, and on-premise integration using Invoiced ERP connect.
The Advanced plan is $500 per month when the subscription is per year, or $600 per month when paid monthly. It supports up to 500 customers and 10 users, while additional ones are 1.5$ and $25, respectively. Apart from all the features included in the basic plan, the advanced one is also compatible with QuickBooks enterprise, NetSuite, and Intacct.
Finally, the Enterprise plan is entirely customizable, so the pricing plan depends on each firm’s needs. Some of its premium features include cash forecasting, integration with Microsoft Dynamics, comprehensive onboarding and training, an assigned customer success manager, and many more.
How much does Invoiced cost?
Advanced Plan: $500 per month
Enterprise Plan: Customizable
Invoiced customer service team can be reached via email or phone by its existing customers. They aim to respond to all requests within maximum 4 business hours from 9 AM to 5 PM (CST), Monday to Friday.
Invoiced Pros and Cons
Below are some of the Invoiced pros and cons you should consider.
- Fully customizable automation
- Different pricing plans according to business needs
- Desktop or mobile-friendly Invoiced app
- Supports different payment methods in multiple currencies
- Invoiced is on the higher end of the spectrum in terms of price, even for its basic plan
Below we compare Invoiced competitors and alternatives.
Bill.com vs Invoiced
An alternative to the solid Invoiced app is the Bill.com software which combines both accounts receivable and accounts payable.
When it comes to Invoiced vs Bill.com, it is important to define your needs. Bill.com is an innovative way of covering your payables, but it only has basic invoicing tasks, unlike Invoiced.
Some of Bill’s main accounts receivable features are recurring invoices, sending invoices, and accepting online payments.
Summary: Invoiced Review
All in all, Invoiced is a complex accounts receivable software that helps businesses to automate all of their tasks, saving time. A great highlight is that it is not a fixed solution; rather, it allows its users to choose either the automation of the entire system, or only some parts of it.
Its pricing plans are rather high, but it can save up to 95% of the time spent on invoicing and other accounts receivable processes.
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