Get paid 14 days faster and 37% more on time thanks to InvoiceCloud

Invoices created with Teamleader Focus and sent via our InvoiceCloud platform are paid 37% more on time and 14 days faster than invoices sent via email or by post. That means more money, faster. And that’s a great thing. Because getting paid faster means you can invest in your business faster. And getting paid more on time means fewer hours wasted following up on unpaid invoices. Even better news: we just revamped our entire InvoiceCloud platform to improve these statics even more. More on that at the bottom of this article. Let’s dive into some numbers first! In this blog, we used anonymised data from our Teamleader Focus customers to show you why using InvoiceCloud helps you to save time and get more money faster.

Tip: what is InvoiceCloud again?

InvoiceCloud is an online platform from Teamleader. It allows customers to view and pay invoices online. The platform’s look and feel inspire confidence. The layout is professional in your own branding, and everything works extremely fast. Has your customer viewed or even paid your invoice? Then you receive a notification in Teamleader Focus, and the payment status that goes with the invoice automatically changes to ‘Paid’.

Invoice Cloud 03 EN

Let’s talk numbers

3.6 million. That’s how many invoices have been sent by Teamleader Focus customers in the past 12 months. That’s huge! Do you know what’s even bigger? The amount of all those invoices combined: € 9,567,106,561. To help you read that number, that’s 9.5 BILLION euros worth of invoices. Or just in between the GDP of Benin and Chad.

Some quick calculus tells us that the average invoice amount is around €2.500. But the median of an invoice amount is €340. So Teamleader Focus customers seem to be mainly sending invoices with a smaller amount.

However, it takes on average around a month for an invoice to get paid. We believe that should be faster.

Speed up that payment process!

In one of our previous updates, we talked about how an efficient quotation process helps you sell more deals, twice as fast. No surprise that an efficient invoicing process yields similar results.

  • Say we start from a signed quotation. It takes on average 40.9 days between a closed deal to the creation of an invoice.
  • On average, the payment term for an invoice is 17.5 days. That’s 58.4 days until an invoice is due.
  • But, only 47.4% of all invoices are actually paid on time! The average number of days between a deal won and an invoice getting paid is 69.3 days.
  • When we look at overdue invoices, they are generally 41 days late before they are paid.

So you see, it can take a while for you to get your money. But not for Teamleader customers who use InvoiceCloud.

For them, the average days until payment is only 9.18 days, compared to 23.5 days for non-InvoiceCloud users.

EN Feature Friday Invoicecloud graph1

And what about timely payments? Well, we spoiled it at the beginning of this article already. While non-InvoiceCloud users don’t even get half of their invoices paid on time (46.8%), using InvoiceCloud increases your on-time payments to 74.2%.

And even if they’re not paid on time, they’re only 16 days overdue on average, compared to 42 days for regularly sent invoices.

EN Feature Friday Invoicecloud graph2

InvoiceCloud 2.0

Seeing those impressive numbers, we recently decided to improve our InvoiceCloud platform. Just as we did with CloudSign a few months ago, too. Our goal: to unburden our customers from the daily hassle of invoicing follow-up.

What did we improve?

  • More professional and more in line with your corporate identity: you can see InvoiceCloud as an extension to your -already excellent- services. You’ve sent a beautiful quotation. Time to send an invoice that’s easy to pay. In your branding, adding a professional, smooth and modern look.
Invoice Cloud 01 EN
  • Credit notes are now available, too: besides invoices, it’s now also possible for your customer to view any related credit notes as well, giving them a complete picture of their business with you.
  • Much more mobile-friendly: whatever the platform of your end customer, everything is completed much more smoothly. No matter whether it is on a PC, Macbook, tablet or smartphone
  • A much finer-looking email: the email you send to a customer to check and/or pay their invoice via InvoiceCloud received a make-over too.
  • Easy sharing: If you want to share the link via other ways than email, good news: you can now copy the InvoiceCloud link and share it however you want.

Receiving payments with InvoiceCloud

Does the promise of getting your money faster and more on time speak to you?

Rightfully so! Getting paid using InvoiceCloud is fast and easy, and you only need to set it up once.

We work together with two payment service providers (or PSPs) that allow you to receive payments via InvoiceCloud: Mollie and Stripe.

Stripe only offers payments via credit card, while Mollie provides a range of payment options such as iDEAL, Payconiq, Bancontact, bank transfer and more. You can choose which of these options you want to offer via InvoiceCloud.

Find more info on how to set up a payment service provider with your InvoiceCloud on our Support Centre. You can find the integrations on our Marketplace.

  • 04/04/2022
  • Last modified on 26/03/2024

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