Microsoft invoicing6/4/2023 ![]() Sizes the B2B payments market relative to other major US payment segments.Jaime Toplin, research associate for BI Intelligence, Business Insider's premium research service, has compiled a detailed report on B2B payments that: These companies must also add the cost of processing checks, which AFP estimates can hit $360,000 per year for the average firm, as well as other associated payment fees. The costs associated with invoice processing can be extremely detrimental to smaller businesses. Processing an invoice comes with costs - according to Kofax, the median cost to process an invoice is $5.00, which can increase when a company is smaller and likely can't save from bulk processing or other efficiencies.Thus, the ability to receive and send these payments digitally could drastically cut down on time. For larger firms, that may be acceptable because they have a tremendous amount of working capital, however, for SMEs, which likely don't have access to this working capital, waiting on payments like these could be catastrophic. Business-to-business (B2B) payments can be time-consuming. For context, it takes an average of 30 days to complete a payment, according to Deloitte.The service will also integrate with PayPal, so users can accept credit and debit cards online, and will connect with QuickBooks to let firms sync customer and catalog data, and transfer invoicing information to accounts.ĭigital invoicing features help resolve major pain points for SMEs, reducing both time and costs. One of its new tools, Microsoft Invoicing, makes it easier to create estimates and invoices in a timely manner while also tracking pending payments and processing payments quickly. Microsoft is adding several new features that help make the company's workplace software-and-service subscription offering, Office 365, more appealing to medium-sized enterprises (SMEs) in the US, UK, and Canada, according to a company blog post. To learn more and subscribe, please click here. This story was delivered to BI Intelligence " Payments Briefing" subscribers. The new applications are now available through Microsoft’s Office 365 First Release program.Account icon An icon in the shape of a person's head and shoulders. It obviously competes with a number of similar tools that do the same, but just like with the other new offerings, it’s a way for Microsoft to keep its users inside its own ecosystem. The third new tool is Microsoft Listings, which allows you to manage your business listings on Facebook, Google, Bing and Yelp and monitor online views and reviews. There also is a QuickBooks connector that lets you connect your accounting software (and your accountant) with this new invoicing tool. ![]() From what we can see, it’s a pretty straightforward service and the standout feature for many businesses is likely that it can be integrated with PayPal so small businesses can easily accept credit card payments. Microsoft argues that getting started with email marketing “can be overwhelming.” While its competitors will surely disagree, there can’t be any doubt that those small businesses that already use Office 365 as their productivity suite of choice will appreciate the addition of this new tool.Īlso new is Microsoft Invoicing, a new tool for - you guessed it - creating invoices and estimates. The idea here is obviously to tie users deeper into the Office 365 ecosystem and give them an alternative to the likes of MailChimp. ![]() While the details about how exactly the service works remain sparse, Microsoft says it will offer users a number of pre-designed templates for their newsletters and “simple ways for people to join your mailing list or unsubscribe.” A company spokesperson also told us that the new tools will be available at no extra cost. The new service, which is available on the web, Android and iOS, will offer the usual trappings of an email marketing campaign tool, including the ability to manage subscribers, monitor campaign performance (open rates, clicks, new customers, redemptions, etc.) and, of course, create the actual campaigns. ![]() ![]() Microsoft Connections allows its users to create Mailchimp-like email marketing campaigns. These join the company’s existing stable of small business tools like Microsoft Bookings and the Outlook Customer Manager. In the shadow of its Inspire partner conference, Microsoft today launched in preview three new tools for small businesses: Microsoft Connections, Microsoft Listings and Microsoft Invoicing. ![]()
0 Comments
Leave a Reply. |