What is an e-invoice? We define the word as a fully integrated and automated solution. It promotes significant cost savings as it does not entail manual intervention and other associated expenses. It increases efficiencies because it is not susceptible to errors. And unlike paper-based invoices, it is not time-consuming. With these clear advantages, can you really afford not considering e-invoicing as an option?
E-invoicing provides revenue-generating opportunities through improved cash flow management. It also boasts environmental benefits by reducing carbon footprint, equivalent to one-third that of paper-based invoices. It also allows you to send, receive and route invoices automatically and resolve discrepancies efficiently. As a result, your staff has more time to focus on other value-adding activities like customer service.
Why should you integrate your systems with an e-invoicing software? Aside from the fact that the e-invoicing market will develop progressively in the next years, e-invoicing automates your processes. This means that you can remove transfer errors between applications, and reduce time and costs associated with rework. It eliminates invoice errors, reduces staff time for follow-up calls, and facilitates electronic archiving and retrieval.
Considering the manifold benefits of e-invoicing, every business should plan and manage their path to automation. E-invoicing does not only let you cut costs, it also improves your processes and releases your cash flow. It also enhances your relationship with your buyers and suppliers. Moreover, it helps you stay compliant. It is highly likely that many entities will join the community, so you should consider e-invoicing now and reap its benefits immediately.