Late payments cost UK small businesses billions every year. Most of it comes down to invoices being sent late, not tracked, or forgotten about entirely.
What an Invoice Tracking System Does
- Invoice generation: Create invoices from completed jobs or services. Consistent branding and formatting.
- Automatic sending: Invoices emailed directly to clients from the system.
- Payment tracking: Mark invoices as paid, part-paid, or overdue.
- Chase reminders: Automatic reminders at 14 days, 30 days, and 60 days overdue.
- Reporting: Outstanding value, average payment time, and client payment history.
Businesses that implement systematic invoice tracking typically reduce average payment time by 10–15 days. The cash flow improvement alone justifies the investment.
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