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Small, Micro Medium Enterprises (SMME) are growing fast. The extraordinary changes in global business in the current period have forced firms in developing countries to redesign their business approach in order for them to stay competitive and financially stable. Heavy protection provided by SMSE to ensure financial capability through utilization of template invoicing. Hubspot Research (2018) revealed that 50% of SMME are paying for their invoice solution. The same study further showed that 49% SMME find challenges in following up late payments and 46% find it difficulty in receiving payments on time. Moreover, 27% of SMME acknowledged that they have a difficult time generating and transmitting invoice tracking.
The utilization of Template invoice is a viable option to save money and time while securing the company’s financial capability. Sites such as and are helpful in generating template invoices for SMME. The pressure for tactical focus will be felt by SMME given prolonged constraints and possible retrenchment of manpower secondary to bankruptcy.
This topic can be traced back to industrial economics perspective which saw company profitability and industrial character. SMME must adapt ways for them to maximize their financial strategies for their success. Like for instance, when a company gets its payment on time the more people will be serviced and more fresh capital will flow to the company. The competitive advantage is the ability of the company to outperform its industry and earn a higher rate of profit than the standard norms with superior financial capability and inflow.
The utilization of such invoicing is a strategy employed by a company to test internal unique resource capability that would challenge the company to outperform its competitors.
Some SMME have pitfalls in doing their invoicing. If a SMME sends out invoices with wrong information, clients may refuse to pay them and may request for a new invoice that takes time and delays payment. An advice is to do proof reading invoices before sending it to customers in a means of communication. Moreover, the practice of delayed invoicing may lead to client satisfaction decline. If you sent the invoice too long, the customer might forget your services and later ignore the bill. The disruption in your cash flow and its effect can be difficult to predict in the company’s’ financial; capability. And lastly, the company’s lenient policy on late payment can cause disaster in the cash inflow.
To deter this from happening, you need to implement some strategies like invoice template pdf( to ease the burden of financial insecurity while enjoying financial profits.
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