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  • Mayer Kokholm a publié une note il y a 2 mois et 1 semaine

    Electronic invoicing, or e-invoicing, such as the name implies, is the electronic exchange of invoice documents from your supplier and the customer. Electronic invoicing goes past merely sending a PDF receipt with a customer via email. An authentic e-invoicing option would be an internal solution where an electronic invoice is transmitted and received seamless between your supplier’s a / r system as well as the customer’s accounts payable system. E-invoicing documents are typically exchanged in EDI or XML formats. (Source: E-Invoicing Basics)

    Why switch from a manual, paper-based system to an electronic invoicing system? Paper-based product is notoriously time-consuming and susceptible to errors. As such, paper invoicing tends to have higher costs and longer processing lifecycles.

    Inspite of the widespread adoption of automation for a lot of business processes, accounts payable and a / r processes remain largely manual (Source: Dolphin Corp).

    Benefits of E-Invoicing for Suppliers

    Switching to e-invoicing solves these problems, producing faster processing, lower transaction costs, greater visibility, and significant savings. Coming from a business perspective, e-invoicing delivers benefits through the entire AR / AP process.

    First of all, there isn’t any mail to sort, distribute, or open. In addition to that, e-invoicing eliminates expenses associated with paper bills, envelopes, and postage. Plus, it will require a smaller amount time for you to process generate bill payment. With all the new system, you may create and distribute a whole batch of invoices with simply several clicks. (Source: Pay Simple)

    Next, there isn’t any data entry required. Since payment comes to the buyer’s accounts payable system automatically, the accounts payable clerk doesn’t need to go into the data yourself. E-invoicing eliminates the opportunity of mistakes and ensures accuracy. Likewise, you needn’t scan paper bills, another manual process that takes time and is prone to errors like illegible scans.

    Meanwhile, all invoices are instantly and securely delivered. Through the elimination of mail from your equation, you happen to be also eliminating a couple of days from receipt to payment. Similarly, electronic payments speed the process and mean you won’t need to wait in line with the bank to deposit your money.

    Electronic invoices are really easy to store and reference, with no physical file cabinets required. When you contact customers, it is possible to add a link or attachment for the original payment receipt, purchase order, or related documentation.

    Benefits of E-Invoicing for Buyers

    E-invoices offer benefits for the customers at the same time. For example, you can give you a selection of payment options including debit, credit, and ACH. Paperless system also opens the door to automated reminders filled with integrated « pay now » buttons that link to the check. Your customers’ accounts payable team will appreciate not having to manually enter data or scan paper bill, too.

    Switching to e-invoicing saves money and time, a win-win either way sides.

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