Invoicellence is an e-invoicing platform designed by an Islamabad-based technology firm called Alfoze Technologies (Pvt) Ltd. According to the CEO (Muazzam Bhatti):
“With Invoicellence, we aim to bring the convenience of e-invoicing to your business – whether you are a SME, Consultant or freelancer.
Invoicellence makes e-invoicing, and expense tracking, easy for you, so you can focus on the more important things. Globally, e-invoicing accounts for only 10% of all invoices, yet businesses that use e-invoicing report a 60-70% reduction in cost. Invoicellence is our solution to this growing need for feature-rich e-invoicing platforms.”
What does it do?
Invoicellence provides an e-platform that helps manage products, services, customers, suppliers, projects, tasks, expenses, receipts, estimates and invoices. Basically, the software brings all your invoicing needs to one place so once you are set up with your clients, projects and suppliers on the platform, every future invoice would be created in less time and with less effort.
The executive dashboard summarizes all your information in one view so that you can make decisions quickly.
There is a limited-features free version that is available for download and use (for an unlimited time) that can provide prospective users with a decent idea of what the solution is all about.
How does it look?
My view of the product is limited to the screenshots available on their website. Based on the screenshots:
The Executive Dashboard looks pretty basic with not much room to change the view. However, it provides a quick snapshot of all the aspects of the invoicing process with totals and graphs showing past figures.
The Invoice view shows what an invoice would look like. Once you have clients/projects saved in the software, you can pull out the associated details quickly for each new invoice/estimate. The invoicing view also shows what can be done with the invoice such as emailing, generating a receipt or saving it as a pdf file.
Other features shown in the screenshots are estimate management and importing data into the system. Both seem useful in terms of making the overall product offering comprehensive for clients with invoicing needs.
Questions
How does it compare to the dashboards provided by payment platforms such as PayPal? One difference would be that Invoicellence is not dependent on the payment platform to operate and generate invoices/estimates. This can be seen as an advantage for Invoicellence as it does not limit the client’s payment options and provides a single platform to act as a repository for the relevant information needed to generate invoices.
The revenue strategy for Invoicellence might be key to its future success. Since the payment is not necessarily happening via payment systems in Invoicellence, they would not be able to charge a %age of each invoice. In terms of charging a licensing fee, customers might not be weighing that cost against the 60-70% cost savings that the CEO is trying to sell in the aforementioned quote, but with competing services. For local clients, having customer support and direct relationships with the vendor might be a good selling point.
Success
Beyond what has already been designed into the beta version of this platform, future success will depend on how well this solution is sold to the target clients as well as how quickly the platform adapts to the changing needs of the clients. Or well, not just changing needs but also new information that they discover once they take the product to market would need to be quickly integrated back into the system in order for the idea to fly.
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