The application is now available to download from the web. It is a fully functional, downloadable mobile app on all devices.
Sridhar Iyengar, Managing Director, Zoho Europe, commented, “We launched Zoho Invoice in 2008, with the goal of providing a fully customizable invoicing solution for businesses of all sizes. Since then we’ve grown to millions of users worldwide. Through the migration from paper-based invoicing to digital invoicing we’ve seen the need for simplified billing to fit the customized needs of the SME community.
“Our roots are centered around helping the SME community which has supported Zoho from the beginning, and we understand the challenges that SMEs have had to undergo that were onset from the global pandemic. We hope to offer Zoho Invoice for free continues to help businesses rebuild and grow amongst challenging times that they face today and for the future."
Zoho Invoice includes features to create contacts, invoices, projects, item lists, estimates, and credit notes. It also contains a client portal that enables companies to share information with customers. A user can create templates for Invoices to deliver them consistently to clients.
The Invoice creator also supports more than ten languages and multiple currencies. For companies offering subscriptions, it is possible to schedule the sending of invoices. They can also personalize invoices using custom fields.
This functionality is fully extended if the user elects to integrate the solution with Zoho CRM or other applications on the Zoho platform. It is there that potentially the only catch appears. To take enhance Zoho Invoice even further, one probably needs a subscription for another Zoho Application as well. Zoho CRM, Zoho Projects, and Zoho Sign all fully integrate to Zoho Invoice. The full list of integrations is available here.
Zoho Invoice is far more than an Invoice creation tool. It provides an operational solution for a small business effectively without the accounting backend. However, that can be added with Zoho Books. However, it can integrate into several accounting solutions.
Enterprise Times: What Does This Mean
This is a smart move by Zoho, though not without risk. The intent is to introduce more SMEs to Zoho software. It will hope that freelancers, MSME, and SMEs decide to have a go with the software. In time, they will want them to realize the benefits of extending the application with other Zoho apps from the platform.
The big question is whether they are giving too much away and whether SMEs will continue to use the free version or start to invest further. It will need to recover its costs at some point, but if usage turns to revenue, this free version could signal a change in how others approach the market.
Laurie McCabe, SMB Group, and well-known analyst in this sector commented: “Time is money for freelancers and SMBs. And too many are wasting too much valuable time trying to manage billing and collecting payments manually and with email. By automating invoicing and payments processes, SMBs can save time and money, and also provide a better payments experience to their customers. With Zoho Invoice now available at no charge, even the smallest company can reap the operational and customer experience benefits that come from streamlining billing and payments processes."
For those starting in business, Zoho Invoice is well worth a look. There are no hidden fees, and certainly, if your business is simple and just needs to create estimates and invoices, it is a great first step. What will be interesting is how competitors react. Zoho is continually innovating its business model. As a private company, it will have made a considered decision before going ahead with this innovation. Zoho Invoice is available free in every country where Zoho is available.