Zoho Corporation, a global supplier of Web-based business tools, is offering its online invoicing solution, Zoho Invoice, for free to SMEs.
According to Zoho, over the last four years its Zoho Invoice revenue growth has rapidly increased as it helps small businesses make the shift from manual to digital. Due to the COVID-19 pandemic, most SMEs have been modernising their invoicing processes at an accelerated rate.
Zoho Invoice offers capabilities such as time tracking, auto recording of expenses, project billing, tax handling and over 30 real time reports to help freelancers and small businesses simplify the billing and payment collection process, at no cost.
Invoice integrates with other Zoho applications, as well as third-party applications so that businesses can use the solution to contextually sync their AR information to relevant systems.
According to McKinsey, SMEs across SA represent over 98% of businesses, employ between 50 and 60% of the country’s workforce across all sectors, and are responsible for a quarter of job growth in the private sector.
“Due to the pandemic, however, they are experiencing a decline in revenue and profitability,” the company says.
For these smaller entities billing and payment collection has remained a challenge due to administrative costs, limited staff, and insufficient time resources. Moreover, they need to be able to access data remotely, which has caused a shift from on-premises solutions to cloud-based solutions.
Andrew Bourne, regional manager for Zoho in Africa, says Zoho Invoice was launched in 2008, with the goal of providing a fully customisable invoicing solution for businesses of all sizes.
“Since then we've grown to millions of users worldwide. Through the migration from paper-based invoicing to digital invoicing we've seen the need for simplified billing to fit the customised needs of the SME community," he adds.
Zoho Invoice is available for free immediately on the Web and as a fully functional, downloadable mobile app on all devices. For more information, visit https://www.zoho.com/invoice
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