Every small business once wants to go for a franchise, considering the great growth opportunity it offers. With franchises, it becomes easier to become recognised online while also getting all the benefits of being your own boss. However, one of the main priorities in this case would be to streamline your business.
The key to smooth business operations is to manage the business’s finances. Using franchise billing software can help in tracking and processing all customer payments. Not only does this prove to be efficient, but also flexible. The billing and invoicing software market is expected to reach USD 13.1 billion. With the billing software in place for your multi-brand franchise management, you will have a centralised portal to accept and process the payments. However, in 2025, you must choose the best billing software for your multi-brand franchise management.
What is a Billing Software for Multi-brand Franchise Management?
Franchise billing software for multi-brand franchise management refers to a tool that can help streamline business payments and invoices and help in financial tracking. This software will be applicable across different brands and locations, centralising the billing process and maintaining consistency. As your brand expands to other locations, the billing and revenue management software for franchise will also act as an efficient GST billing software.
Factors to Consider While Choosing Small Business Billing Software for Multi-brand Franchise Management
While choosing a franchise billing software for your multi-brand franchise management, you must ensure that you’re saving time and money. At the same time, you must not miss out on offering convenience to the team and customers.
Some of the major factors to consider for choosing the billing and revenue management software for franchise are as follows:
Flexible Payment Options
Not all of your customers are going to pay in cash. So, it is advisable to keep flexible payment options. Therefore, you can offer the option of credit card, debit card, cash, eCheck and online payment options for your customers. With the multiple payment options across the franchises, you can offer them the option to pay over the phone or in person.
If you have a subscription model, provide your customers the option to automate payments as well. Integrating a simple recurring payment functionality will help in saving money and time across different locations. Moreover, you’ll also get a steady stream of revenue with the billing and revenue management software for franchise.
Automated Adjustments to Multiple Locations
If you’re expanding internationally, you might as well bring automated time adjustments for multiple locations. This can prove to be very efficient for your multi-brand franchise management across different regions and time zones. The franchise billing software must sync scheduling and data booking for your franchise business. This will help in enabling real-time booking ensuring everything is under control.
Irrespective of the locations where your business is available, time zone adjustment should never be a problem in terms of smooth service delivery. When the billing software is updated with the same, businesses can stay updated with accurate schedules without any manual adjustments. It will help in improving client experience as they won’t have to undergo the risk of double bookings.
Integration with Existing Software
If your business has already been using specific software for business operations, you must ensure that the billing software aligns with it. This is extremely crucial for small businesses as they can get all the information in one place. The software must, therefore, align with different platforms like CRM, bookkeeping software, and even project management.
The franchise billing software must have an easy-to-access interface with the specific gateways. For example, in India, if your business is using UPI, the billing software must accept the same. Moreover, if your business has a globalised customer base, the billing platform must accept bank transfers, electronic wallets, and credit cards.
Scalability
Not many businesses consider scalability, but this is one of the most important factors that small businesses must consider. Having GST billing software in place will ensure scalability for your business as it grows. The scalability of the software ensures that the billing software will be able to keep up with business transaction volume influx.
If you plan to introduce bundles and subscriptions in the future, the software must be able to keep up with it. Moreover, this also ensures efficiency and compatibility with your international subscribers, especially if your business is present in multiple countries.
Financial Tracking
Tracking your business finances is one of the main requirements for businesses. It helps you keep a check on the financial health of your business. The billing and revenue management software for franchise must provide a revenue reporting feature with a 360-degree view.
When you have a 360-degree view of your business, you’ll have the option for real-time revenue tracking across different locations and teams. This will assist with business performance forecasting and planning. Moreover, such crucial franchise billing software will also offer direct insights into business location performance. When you’re constantly tracking the financial health of your business, you’ll be able to make better decisions. As a result, you’ll be informed every step of the way.
Multiple Locations Management
The franchise billing software must have the option for integration and management across multiple locations. It is advisable to choose a tool that matches the quality and functionality of your business, supporting cash flow management across multiple locations.
Moreover, when the software offers the option for multiple location management, you won’t have to opt for different programs. Everything will be integrated in one position which can help with the management of low pricing and processing rates. However, you will have to consider the number of locations that are to be managed and the operating costs for the same. This can offer significant competitive rates, especially for the growth of your business.
Reporting and Analytics
Prior to choosing a franchise billing software, you must check if it can help with reporting and analytics. Since you’re going to be using it in multiple locations, you will definitely not have the option for reporting and analytics for every location. Manually doing the same can consume a lot of time. On the other hand, if you hire someone else to do it for you, they are going to charge you a lot of money. As a result, you’ll end up losing money and time.
On the other hand, if the software generates reports and analytics for your business, it can be extremely helpful. To provide a smooth operation, the software must help in monitoring all the key metrics, such as retention rate, customer lifetime value, and customer churn rate. It can help you gain valuable insights about your small business thereby making better decisions. This will eventually help in improving your business statistics.
Final Thoughts
The right billing software can play an important role in the growth of your business. You must choose software that aligns with your business goals and can help you in the growth of your business. Furthermore, it is also important that the software integrates with all the other aspects of your business, like accounting and marketing. Make sure that you’re considering the above factors so that you can get your hands on the best billing and revenue software for franchise management.
Also read: What Kind of Business Needs Billing Software?
Frequently Asked Questions (FAQs)
1. What features should I look for in billing for my small business franchise management?
While choosing a franchise billing software for your small business, look for different features such as automated invoicing, centralised reporting, customised templates, and other user role management features that can help streamline operations across all franchises.
2. Can franchise billing software help in managing operations for multi-brand franchises?
Yes, franchise billing software can be a good addition to managing operations for your multi-brand franchise. It can help in complying with the local tax regulations.
3. How does billing software help small businesses manage multiple franchises?
The billing and revenue management software for franchise will help in automating repetitive tasks while centralising billing across different locations. It can prove to be a cost-friendly solution for tracking sales and revenue, thereby streamlining businesses for your small business.
4. What is the average price for billing software for multi-brand franchise management?
The price for billing software for multi-brand franchises completely depends on the software you’re choosing. The software company usually offers different pricing models so choose one that doesn’t add extra financial strain to your business.
5. Can I integrate my small business billing software with other tools?
Yes, you can easily integrate the small business billing software with other accounting software, CRM platforms, and point-of-sales systems. This will bring about smooth operation for your business without extra investment.
