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The HubSpot invoice tool: opportunities, challenges and prospects

Written by Stefan Wendt | Nov 28, 2024 1:03:03 PM

Digitalization is changing the way companies design their processes - including in accounting. With the new HubSpot invoicing tool, the CRM giant is launching a product on the market that is designed to simplify and automate accounting processes. But how powerful is the tool really? In this article, we highlight the strengths and weaknesses of the HubSpot invoicing tool and show how companies can benefit from it.

A first look at the HubSpot invoicing tool

The HubSpot invoicing tool is a promising feature for companies that already rely on the HubSpot environment. It offers an intuitive user interface that can be seamlessly integrated into existing CRM and marketing processes. This makes the entire invoicing process more transparent and easier to handle - at least for basic requirements.

Advantages at a glance:

  • User-friendliness: The intuitive operation enables a quick start, even without extensive prior knowledge.
  • Integration: As part of the HubSpot platform, the invoicing tool fits seamlessly into existing workflows.
  • Automation: Recurring invoices or payment requests can be automated, saving valuable time.
 

Challenges in use

As promising as the tool is, it is also clear that the HubSpot invoicing tool is still in its infancy in some areas. The lack of integration with bank accounts is particularly noticeable, which makes the accounting process more difficult for many companies. There are also still hurdles when it comes to connecting with common accounting software such as DATEV or LexOffice.

Challenges in detail:

  • No bank account integration: manual processing of payments remains necessary for the time being.
  • Limited functions for German-speaking countries: Tools such as LexOffice or DATEV are only compatible to a limited extent.
  • CPQ processes: For more complex requirements, such as those offered by DealHub, HubSpot is currently not a fully-fledged solution.

Best practices for companies

Despite its limitations, the HubSpot invoicing tool can help companies digitize their accounting processes. Here are some recommendations on how companies can use the tool effectively:

  1. Gradual introduction: start with basic functions such as creating and automating invoices before integrating more complex processes.
  2. Use additional tools: External software solutions such as LexOffice or DealHub can be integrated for specific requirements.
  3. Prioritize automation: Utilize the tool's automation options to make recurring tasks such as reminders or payment reconciliation efficient.

Future prospects for the HubSpot invoice tool

The HubSpot invoicing tool has the potential to become a central component of modern accounting processes. Continuous further development will be crucial in order to overcome challenges such as missing integrations. The question of how automation and artificial intelligence can be used to further increase efficiency in accounting remains particularly exciting.

Conclusion

The HubSpot invoicing tool offers a promising opportunity to digitize and optimize accounting processes. It is particularly suitable for companies that want to bundle their entire customer communication and accounting in one platform. Nevertheless, it is clear that there is still room for improvement for companies with more complex requirements or specific regional needs.

Looking to the future, HubSpot should prioritize integration with bank accounts and external accounting software in order to create a comprehensive and powerful tool. Until then, it will be exciting to see how the HubSpot invoice tool develops and what new features are added.

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