Zeller app launches mobile invoicing to tackle AUD $115bn debt

Zeller has launched a new mobile invoicing feature within its business financial app aimed at reducing late payments for Australian small and medium-sized businesses.

The update introduces invoicing capabilities within the Zeller app, allowing business owners to create, send, manage, and track invoices directly from their smartphones. This development means Zeller now provides payments, cards, accounts, transfers, and invoicing functionality in one mobile solution.

Australian SMEs are collectively owed an estimated AUD $115 billion in outstanding invoices each year, with late payments averaging 27 days past due.

Zeller's introduction of a mobile-first invoicing tool is designed to address the impact of these delayed payments and the manual burden associated with traditional invoicing processes.

Data from Zeller indicates that 75% of invoices sent and paid online through the app are settled the same day, with online transactions via Zeller's payment gateway completed seven times faster than those paid by cash or bank transfer. This accelerated payment rate is expected to deliver a significant boost to small business cash flow.

The app's features are structured to streamline the invoicing experience. Business owners can generate and send invoices from their smartphones in seven steps, customise invoice designs with business logos and messages, and utilise the Zeller Contact Directory to easily track payments from regular clients.

Other features include the ability to schedule and automate payment reminders, receive real-time notifications when invoices are paid, and track the status of outstanding payments directly in the app. Invoice recipients can make instant payments through Zeller's secure online payment gateway, with funds being settled to Zeller Transaction Accounts seven days a week. There are no monthly software fees for merchants, and the company claims its transaction fees for online invoices are on average 30% lower than other providers.

Ben Pfisterer, Zeller CEO and co-founder, commented on the launch and its potential impact. "Getting paid fast is one of the most important elements of maintaining a healthy business cash flow," said Pfisterer. "Now that Zeller Invoices lives natively within the Zeller App, merchants can issue invoices instantly, track outstanding payments from anywhere, and ensure they're getting paid faster."

"As we continue adding more products to the Zeller financial services ecosystem, we're making it simpler for Australian business owners to accept payments in more places, access their funds faster, and get a holistic view of their overall business financial health that no other bank or provider can offer them. That's why over 70% of Zeller customers utilise 2 or more products from our ecosystem; it's enabling them to better manage their business finances."

Paul Doody, owner of Panda Dry Cleaning & Laundry Services in Sandringham, Victoria, shared his experience with the new invoicing functionality. "Being able to send invoices from the Zeller App has made it easier for me to get paid. I don't need any extra devices to send an invoice, just my smartphone," said Doody. "The ability to add pre-populated items to an invoice makes it a lot faster to create and send, and triggering reminders to customers to prompt them for payment has streamlined my entire invoicing process. I'm no longer wasting hours issuing and chasing late payments; it's literally saving me hours every week."

With the launch of its mobile-first invoicing tool, Zeller is aiming to relieve some of the pressure faced by Australian small business owners due to late payment cycles, while offering a consolidated platform for managing a company's broader financial needs.