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Sole traders spending roughly 30h a month processing bills; time to switch to e-invoicing?

If 73% of SMEs say that issuing invoices promptly and correctly is crucial to combat late payments, then making the switch to LUCA Plus should be a no-brainer!

To date, LUCA Plus has helped several sole traders, small to medium-sized businesses and micro businesses solve the challenges caused by manually processing invoices, chasing payments and removing the potential risk of invoice fraud.

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So if you’re not ready to yet make the switch, here is why you should:

It’s estimated that a sole trader spends an average of 30 hours a month processing invoices and bills

We understand that many Australian businesses are also recovering from maintaining positive cash flow, requiring twice as much effort in bookkeeping tasks and extra vigilance in digital transactions.

So here is a quick calculation to get you thinking so you can make the switch:

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The average invoice processing cost for a paper invoice is $30.87, whereas the average invoice processing cost for a PDF invoice is $27.67, according to the Australian Tax Office (ATO).

Currently, let’s say you generate twenty (20) invoices a month.
The cost for a paper invoice is $30.87. The cost for a PDF invoice is $27.67.
You’re unnecessarily spending $617.40 on paper invoices and $552.80 on PDF invoices. That amount could have been spent on marketing or investing in tech!

Not to mention, given the manual effort required to complete these tasks, you are also spending an extra 20-30 hours a month.

If you switch to LUCA Plus, you save hundreds of dollars on processing invoices and take back 30 hours of valuable time. Imagine what you can do with an extra 30 hours a month!

The rise of invoice fraud and what you can do about it

Whether we choose to ignore it, it’s not going away!

Since COVID-19 this year, Scamwatch has reported a significant rise in payment redirection scams costing Australia’s small businesses $14M in losses.

So how does LUCA Plus help you avoid being part of this statistic?

Let’s take our customer Ariel who runs My VIP Cleaning Company. Her contractors send her an e-invoice from their LUCA Plus Solo Plan, which lands directly inside her QuickBooks Accounting software account. Ariel simply logs into her QuickBooks account, ready to reconcile the invoice (as it’s from a trusted sender), which is now ready for payment!

In other words, you’re eliminating the potential of scammers interfering with your email and changing the PDF invoice in your inbox. So if you’re a contractor working still using an excel spreadsheet or convert a word document into a PDF, its time to make the switch to LUCA Plus!

Time is of the essence for Sole Traders and Freelancers

A massive chunk of time is generally spent on admin, tracking payments, reconciling invoices, and managing bills. That means spending extra hours on manual bookkeeping tasks.

How does LUCA Plus help you get your time back to focus on getting clients and spending time with friends and family?

Take one of our customers Yanina, an artist & freelancer. Yanina worked out quickly that LUCA Plus eliminates the manual process behind creating, sending and reconciling her payments. The best news for her, she now concentrates on business growth.

We hear you our fellow Startup and SME community

Efficiency is a top priority for every Startup and SME business owner. May it be getting invoices paid on time or projecting income to make smarter decisions.  Approximately 92% of SMEs believe they would have generated more revenue over the past 12 months if their cash flow had been in order.

Shelley Hon, the CEO & Founder at Odele Cosmetics, made the switch and is repeatedly reaping the benefits of using LUCA Plus for her business. She now gets paid faster, and her bookkeeping errors have been reduced, therefore, saving hours processing invoices and bills.

LUCA Plus COVID-19 Response: You are not alone. We got you! 

We have developed a program for you to combat financial challenges as an ongoing result of COVID-19.

LUCA Plus has introduced the New Sign Up Incentive Program (NSIP) to reward you when you refer and advocate for LUCA Plus. We recognise that many Australian businesses require further help as a result of COVID-19’s financial challenges. We are giving you 30 days FREE to use our platform, and we’re also giving you a chance to earn every time you refer a friend, a customer or supplier. So you both can get paid faster and automate your bookkeeping efforts.

It’s a perfect way to introduce your clients and suppliers to e-invoicing. With LUCA Plus, you can earn up to $2,000* while enjoying the benefits of improving your cash flow and removing back-office inefficiencies.

The referral process is simple as sharing a unique referral link via email, text message, Facebook Messenger, WhatsApp, or even LinkedIn messaging.

Earn $20* for each individual or business who signs up for LUCA Plus due to your referrals. Earnings from the incentive program are capped at $2000* per referral.

Visit LUCA Plus to see how your small business can save money & time with e-invoicing. Enjoy these free e-invoicing resources designed for small businesses.

 

Register for a Free Ticket to SmallBiz-Week’s E-Invoicing Panel, presented by LUCA Plus.

 

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