Square Inc. on March 26, announced the launch of a new standalone mobile app for Square Invoices that lets sellers send, manage, and receive invoices from a smartphone or tablet.
Square Invoices aims to provide aims to add all the functionality small businesses need to ensure they get paid fast.
Alyssa Henry, seller lead at Square said that, “The way we do business is changing; not everyone works from an office, and small businesses need the flexibility to handle core processes like invoicing on the go. With the Square Invoices app, small business owners are able to get paid remotely and access their funds quickly and securely.”
According to a report by Fundbox, on the average, it takes 21 days for a company to get paid from the time the invoice is sent. Square Invoices removes the need for a physical invoice or physical checks that get sent in the mail.
In addition to this, the company further said, “Whether they are getting paid for photographing a wedding or after taking on a new landscaping job, sellers can send invoices and get paid in just a few simple taps. In fact, more than 60 percent of invoices processed through Square are paid the same day.”
This app can also give businesses a more holistic view of their financial health. The ability to get paid quickly can save business time and help businesses manage their cash flow.
“Before, we would typically wait at least a couple of weeks to get paid because we had to send invoice statements manually and wait to receive a check in the mail,” she said. “It was difficult to keep track of what we were owed, determine what payments were overdue and ensure we were getting paid. Now, the process is streamlined, and more often than not, we’re getting payments the same day. Having access to our funds when we need them most has been a game-changer for our business.”
Square Invoice app is available via App Store and Google Play in selected countries like Australia, U.S, Canada, U.K and Japan.
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