Invoice Management Software

There are lots of accounting and time-tracking software available for small businesses, but very few options tackle the specific needs of a professional services firm. Many consulting and engineering firms rely on spreadsheets to track time, materials, and to generate invoices. Other firms rely on a mixture of different applications to generate the invoices and reports they need to run their business. Invoice management software combines all of these major tasks into simple-to-use online billing software.

Invoice billing software allows professional service firms to manage remote employees on a cloud-based platform. Employees track time, record expenses, and apply services to the appropriate client and project account. All information is collected in a centralized, cloud-based location instead of tracking time and billing information on spreadsheet software sitting on the employee’s personal computer. Managers can approve time and accounting departments can bill clients for completed work.

Online billing software generates custom invoices to comply with the firm’s branding standards. Invoice templates are flexible to meet the unique needs of different types of service firms. For instance, accounting firms can use invoice management software to bill at different rates depending on the type of work being performed. Engineering and construction firms often use time and materials billing while marketing and creative firms often bill by project completion milestones. An online billing software platform must accommodate these different types of billing methods without the need to customize the software by using costly custom software developers.

Many accounting systems include invoicing features, but many do not offer the flexibility an invoice management software platform provides for professional service companies. Billing software should work with these primary bookkeeping tools to generate the statements and reports needed for accounting purposes. Invoice software must also integrate with customer-facing applications like customer relationship management (CRM) platforms and communications systems for messaging and conferencing.

Invoice Management Software for Small Business

Invoice management software for small businesses brings many types of functions together on one centralized platform. Many consulting firms use separate project management, time tracking, invoicing, and analytic software to manage their small business invoicing process.

BigTime provides an automated invoice process for small business applications, helping business owners spend less time on tedious billing tasks and more time generating new business and interacting with existing customers. When you take advantage of automated invoice processing for small business, you’re saving time and money that can otherwise be spent on new projects. 

BigTime is not free invoicing software for small businesses. Still, it does provide a free trial to test drive the features and learn why moving away from Excel and onto a sophisticated billing system will save your firm money and time managing the invoicing process.

Integrating your invoice management software with mainstream accounting and tax preparation software applications will improve the productivity of accounting or tax preparation firms. BigTime provides two-way data integration with QuickBooks, Sage Intacct accounting software platforms, and LaCerte professional tax preparation software.

BigTime online billing software provides productivity solutions for more professional services firms. IT services firms will be able to use time tracking, project tracking and invoicing features. Creative services firms are able to bill by the hour or by the project, while law firms can use the BigTime invoicing system for automated invoicing services while working on multiple client accounts. Engineering and architecture firms can bill based on conventional project milestones as the project progresses. The billing software can also tell the difference between billed and unbilled time.

The BigTime invoice management system provides the dashboards and reports firm executives need to manage ongoing operations. Customizable reports put the most critical data in front of firm owners and partners on a real-time basis.

Data integration provides a seamless flow of data back and forth between the BigTime invoice management software and the other applications. BigTime also includes integrations with Google Apps, Salesforce, Slack and Zapier.

Automated Invoice Processing Software

Using spreadsheets to generate invoices is a tedious process that requires extensive labor and time to manage. Automated invoice processing software saves professional service firms and consultants tremendous time and money.

There are many processes within a consulting firm where the best accounts payable automation software focuses on improving productivity and reducing costs. One example is the process of time tracking. Workflows automate the process of reviewing and approving employee timecards, reducing errors and preventing the need to backtrack and fix billing errors.

BigTime is one of the best accounts payable automation software for small businesses. Managers can automate the expense submission and review process to eliminate paperwork, manual data entry, and costly errors. BigTime generates automatic notifications to managers, and it lets them know reports are ready for review, speeding up the approval and billing process. It also gives the managers the chance to fix errors before billing clients.

Engineering and consulting firms working with the U.S. military and federal contracts must comply with the Defense Contract Audit Agency (DCAA) requirements when submitting timesheets for federal work. BigTime automated invoicing software includes the checks and balances required to meet the DCAA compliance requirements.

Project management tasks are also an essential feature of automated invoice software. Tasks, milestones and schedules provide insights into project progress and alert managers if deadlines are not kept. This is a crucial feature for engineering firms being paid on completion deadlines. Often, construction projects charge hefty penalties for missing deadlines. Reminders and notifications will keep employees on track. The BigTime online billing software will provide consulting and professional service firm executives when projects are in danger of falling behind schedule.

Vendor Invoice Management System

Many consulting and professional service firms manage multiple vendors and freelance contractors to complete projects. Managing vendors without an online vendor invoice management system is a difficult, if not impossible, task.

The BigTime invoice tracking system saves consulting firms money by reducing the time needed to manage multiple vendors. Store and identify vendor invoices in the digital invoice software for fast and easy retrieval. Vendors submit invoices, and managers can automatically review and approve invoices. Expenses are categorized by account and client for accounting and client invoicing purposes.

An automated vendor invoice management process saves engineering and IT services firms tremendous time and management. The computerized system generates notifications when bills are submitted so managers can review and approve expenses. The automated accounts payable software requires less management by accounting staff, allowing them to focus on more important priorities.

The BigTime vendor invoice management system tracks the hours submitted by contract employees in a centralized online time tracking system that tracks billable, nonbillable, and expenses in one convenient location.

For firms working for the U.S. Department of Defense, time tracking and vendor billing must meet DCAA compliance standards. The BigTime invoice management software enforces DCAA compliance standards, so sub-contractors and vendors do not endanger government contracts. The system adds notes for audits, restricts time logged in advance and locks timesheet entries after the completion period. Your government contract status will be secure when using these DCAA compliance features.

Vendor invoice features are also secure using online vendor management software features. All portals are secure and meet PCI standards.

It is easy to create custom vendor management reports and dashboards. Create access rules so vendors and customers can only view their own specific reports and dashboards. Standard reports are available in a system report library. Users can set up dashboards with easy-to-use wizards.

Best Automated Invoice Processing Software

Consulting and professional services firms recognize the need to save time and money by automating their invoice process. G2 users voted BigTime as one of the best automated invoice processing software vendors. The most popular features include their all-in-one platform, ease-of-use and excellent customer support and onboarding services.

BigTime does not offer a free pricing plan, and they offer a free trial and three price tiers based on your business size and the features you need. If your consulting firm is still using Excel spreadsheets to manage your projects, time tracking and invoicing needs, it might be a good time to move towards simple invoice software.

Best Free Invoice App for Consultants

BigTime provides a free mobile invoice app for consultants, engineers, and freelance marketing consultants who need mobility and flexibility with their invoice processing software.

Invoice Management Software for Accountants

Accountants and tax preparation firms can use BigTime invoice automation software to meet the demands of tax season. The BigTime Premier pricing tier is perfect for larger firms that need integrations with QuickBooks, Sage Intacct, LaCerte and other professional accounting software applications. Two-way integration and cloud security ensure client data is protected and employee time is recorded to the correct accounts.

BigTime is Not the Best Free Invoice App for Engineers

That’s because BigTime is not free but does offer a free trial for engineering firms who need project management, time tracking, and work-in-progress billing features not available on other top-tier invoicing software.

Best Automated Invoice Management Software for Marketing and Advertising Firms

Marketing and advertising firms need sophisticated time tracking and employee management features but do not want to spend a lot of their operating budgets on overpriced accounting software. BigTime provides online invoicing for remote workforces, consultants, and automated payment features for firms working with small businesses.

Test Drive BigTime with a Free Trial

It’s time to stop trying to build your invoice system in excel. Instead, try BigTime, cloud-based invoice software for consultants and small businesses. Now is a great time to test drive the software with a free trial and have your new system online before the start of the next year. Visit www.bigtime.net.