Barclays has become the UK's first high street bank to launch free mobile invoicing for small businesses within its app.
A survey of 250 sole traders and micro business owners, carried out for Barclays, shows that invoicing costs them on average £2000 a year, while one third say they have to work at weekends due to a backlog of paperwork.
The new feature, available within the Barclays iOS and Android apps, will enable SMEs to create and send invoices from their smartphones while on the move. In addition, users can track and manage invoices, check when payments are due and when they are made, and reconcile invoices.
Ian Rand, CEO, Barclays Business Banking, says: "We know that many business owners aren’t confined to an office. With long hours spent out and about seeing clients, they often find themselves sorting invoices manually when returning home in the evenings or at the weekend.
"By introducing invoicing within their regular banking app, our clients can keep track of everything in one place. We’re helping to save them time, and speed up the payment cycle, with just a few simple taps on their phone."