According to G2, one of the leading business software review sites, PandaDoc is the market leader in the categories of contract management and document management.
Tens of thousands of companies use PandaDoc to manage documents like contracts, proposals, forms, receipts and, of course, invoices.
But should you also opt for PandaDoc? If you’re currently in the market for sales invoice software, you have no shortage of options. There are dozens of providers, each with its own particular feature sets, pricing models and customer support packages.
This article breaks down what PandaDoc offers and how it compares with other similar brands. By the time you’ve finished reading, you’ll know exactly whether or not PandaDoc is a fit for your business.
What Is Sales Invoice Software?
Sales invoice software is used to create, send and track invoices. It is ubiquitous in the corporate space because it enables companies to speed up document creation, automate follow-up correspondence with clients, and streamline the payment process.
Sales invoice functionality is typically available within a broader platform, such as an accounting or document management solution. As a result,dedicated sales invoice apps, without any additional features, are rare.
PandaDoc, for example, is best described as a document management (or contract management) application, yet offers a comprehensive invoicing toolkit. Accounting platforms, like Xero and QuickBooks, also provide invoicing features.
What Does PandaDoc Offer as an Invoicing Platform?
So can you make invoices with PandaDoc? The short answer is a resounding yes. But PandaDoc also offers an array of extra tools for streamlining entire document workflows.
PandaDoc provides the following core functionality:
- Automated workflows: Users have access to an array of automation features, from auto-populating price tables to pre-set approval notifications.
- Integrations library: Integrating your sales invoicing platform with your other apps, especially your customer relationship management (CRM) and accounting software, allows for the immediate transfer of data without the need for any manual input.
- Analytics and tracking: Analytics tools enable you to see which invoices have been sent, read, signed, and paid. This is particularly important for monitoring cash flow and pursuing unresponsive recipients.
- Pre-written templates: A ready-to-go library of pre-written sales invoices, catering to various industries, makes the writing process fast and straightforward.
- Document editing: A feature-rich document editor allows PandaDoc users to create invoices from scratch or make minor edits before sending.
Is PandaDoc Worth the Money? A Comparison
You are likely wondering how PandaDoc compares to other similar providers. Here’s an overview of the main differences that sets PandaDoc apart:
- Plans for enterprises, small businesses and individuals: Many providers focus on one particular section of the market, catering either to enterprises with hundreds of employees or smaller businesses with only a few dozen. This creates several problems. First, it makes scaling difficult for startups and expanding companies. Second, it means that advanced functionality, such as integrations with CRMs, are unavailable to small business and individual users. PandaDoc caters to a large spectrum of users, with an “Essentials” plan for small organizations and a tailored enterprise package for those in need of a tailored solution.
- A “forever free” plan with a large feature set: PandaDoc offers what is arguably the best long-term free plan on the market. The “free eSign” subscription includes unlimited document uploads, unlimited electronic signatures, and in-document payment buttons.
- Extensive library of integrations with no additional fees: Many sales invoice platforms charge an additional fee for integrations. While the Salesforce connector is only available on the premium PandaDoc plan, all CRM and ZPR integrations are included on the “Business” plan without any extra costs.
