4 Reasons Businesses Must Customise Their Invoices
Invoices and the creativity used to design them have grown by leaps and bounds. Invoices are a very important set of documents that can directly affect how well or badly your business performs. This is mainly because an invoice is the last customer touch point for most businesses.
Most businesses, while creating a custom invoice, focus on the creative aspect of invoices and overlook the content and must-haves of the invoice. Invoices have a purpose i.e. to prompt the recipient to make payments. It is a piece of document that not only prompts the recipient to make the payment but takes it a step further, it makes the process of payment easier for the customer. Many invoices today have dynamic QR codes and digital signatures to make invoices more user-friendly.
Tally, too, helps create an invoice. As a business management software, Tally allows you to configure some details in invoices. Every industry like Manufacturing, Trading, Retail, Service, etc. has some unique terms for a transaction. To accommodate these terms, often users customize their Tally invoices.
Let us first understand the industry-wise unique invoice requirement –
Manufacturing Invoice –
The manufacturing industry consists of a wide range of businesses. Businesses from the Manufacturing industry can have different requirements and hence different invoices. On average, manufacturing invoices have an additional column stating the weight of the sold products. Some manufacturers may want to add different components to the final product. Similarly, different manufacturers may want different columns and details in their business invoices.
Garment Industry –
In the garment industry, Tally users require a unique column of clothing sizes like small, medium, large, etc in their invoice. These columns can be made available in Tally invoices by customizing your Tally invoice.
Automobile Industry –
Invoices in the automobile industry require you to send complete details of the transaction as well as the product. And thus, Tally must have customized invoices with special sections for information like chassis number, battery, and a lot more.
Export Industry –
Other than the normal details, the Export industry needs to mention many other details in their invoices. They include container numbers, package details, goods descriptions, and much more. You can also edit the supporting documents required for Export purposes. These changes can be made through Tally invoice customization.
Now that we know the scope and application of invoice customization, let us also understand why businesses must customize their invoices –
Standard invoices often only have the most important information that is used by most businesses. Tally generates a standard invoice with some flexibility. And everything else is considered secondary and hence any requirement that goes beyond the available invoice options requires you to get your invoices customized. When the terms of the transaction are clearly defined, there is more clarity and transparency between the buyer and seller.
Increased Trust –
When there is transparency and clear terms of the transaction, the customer feels a sense of trustworthiness toward the seller. And once a customer trusts a business, the retention cost of that particular customer decreases incredibly.
Good invoice designs with clearly stated conditions of sale, often result in quicker payments by the customer. This is especially true when the invoice contains a dynamic payment QR code and digital signature. While a QR code makes sending payment easy, a digital signature ensures the document is safe from any malicious activity.
Better Brand Image
When the invoice contains only parts of the details of the transaction, the customer might not feel confident about your business, thus delaying the payment. But when all terms and conditions of the sale are explicitly stated, the brand image of the business improves and the customer feels the business is reliable enough and payment is released at a faster rate.
Thus we can say a customized invoice with complete details of the transaction can not only have a positive impact on your customers but will also take your business to a new level of success.