As the world gets more and more technology-driven, we see how the use of QR codes is increasing day by day. QR code means quick Response code. Initially, it was being used by end consumers to make payments through different applications like Gpay, Paytm, etc. But now we see how the government is also encouraging businesses to get QR codes on their invoices.
Many users may wonder why traditional invoice formats are now being redesigned. Here’s why -
What is better than quickly recovering your dues? For a business, getting paid is the most important over any other function. QR codes have proven to increase the cash flow through an organisation. This is mainly because of the ease it provides to the customers to make payments. Without reading the document, the customer can scan the QR code and quickly release the payment. This not only helps businesses but also creates convenience for the customer.
The government has made QR codes necessary for some businesses due to the simple reason of convenience that it provides to both customers and businesses. We have seen how the government is making QR codes mandatory for more and more businesses. Why wait when your Tally software can print QR code invoices for you?
Quick data reading
QR Codes can be used to encode a large amount of data without occupying much space on a sheet of paper. It also helps to keep data hidden from unnecessary exposure. Only the users who scan the QR code will be able to read the information encoded in the QR code. QR code when used along with a digital signature, makes invoices or any document ever more secure. It reduces the risk of online fraud. Data can be quickly read and fed into a system just through a scan.
Most Smartphones these days have an inbuilt capacity to scan and read QR codes. Irrespective of where the QR code is, a smartphone can easily read and store the information in a QR code. Thus QR code has improved the mobile to PC iteration. A common example is of Whatsapp web wherein you need to scan the QR code on your PC using your smartphone with a Whatsapp scanner. This allows you to access your mobile WhatsApp on your desktop with just a scan.
With QR codes, there is hardly any need for a physical document. All you need is a digital QR code, and you can store information as well as make payments. This reduces the usage of paper and takes us a step further in digital technology.
We know how QR codes have made payments quick. It has improved the overall customer experience, especially for B2B businesses. Transactions are quick and technology-driven providing maximum value to both the seller and buyer.
These are a few of the benefits of using QR codes in invoices. Learn how you can generate QR codes and Digital signatures in your Tally invoice.