I own a software firm and I was wondering if is there any invoicing system which I can utilize for free? The system must have required features like Creating Milestones for a particular project, letting client escrow money, allowing client to release payment for individual milestones and to manage all projects efficiently there?

Do you think something similar is already built?

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Here are just three of very many:

http://freshbooks.com
http://insightly.com
https://www.zoho.com/invoice/

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I have used some of the free services with little satisfaction and think making the investment is worth it. I have been using an automated invoice processing service from Concur that allows my organization to capture and process invoice data quickly and effortlessly. It's been the best option for me by far.

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