The term e-invoicing has been in the market for quite a while. However, the precise meaning of this term and its degree of implementation are still unclear to many. In this article, Procure Avenue has come up with some answers that will bring clarity to such questions.
What is Electronic invoicing or E-invoicing?
The terms “Digital Invoice” and “Electronic Invoice” are used to explain similar concepts. But, they are both fundamentally different from each other. It is still being carried out in the traditional manner such as by scanning the document and then converting it to digital format.
However, the e-invoicing is a format in which the invoice is generated directly from the software that you are using. Such invoices are usually booked in XML format and they are compliant with PDF versions in order to create the final readable copies for the users.
Benefits of electronic invoicing
Quick Payments
The implementation of electronic invoicing literally removes the delays in unnecessary processes such as sorting & routing papers. The software enables the user to route the invoices in a fast manner as the data is available on at the fingertips. Due to such faster operations, the bills can be paid on time and cash flow improves immensely.
Only a few rejected invoices
The e-invoicing software enables a straight forwarded process initiated from your system to the client’s or supplier’s account payable app. Thus, the user does not have to enter the data manually which leads to the elimination of human errors and the majority of the invoices getting approved.
Enhanced Productivity
The electronic delivery enables you to know whether the customer has received the invoice or not. Hence, the amount of reworking can be reduced and overall productivity enhanced.
Better Customer Satisfaction
Customer satisfaction matters the most in any type of industry. E-invoicing enhances the user-friendly experience and provides easy access to the desired data. Thus, firms that implement e-invoicing systems experience less customer churn compared to other companies.
How it works?
Now, just imagine how easy the accounts payable will be if all the related people are on the same system! Once you sign up for our software, you can even invite the suppliers to use these services as well. It becomes extremely easy once everyone starts using the same process.
Get rid of the piles of bills on your desk. Pay your suppliers on time & keep them happy.
Switch to e-invoices to speed up your accounts payable process and reduce the overall time that you spend managing the invoices.
Why don’t you try Procure Avenue’s e-invoicing software? You will see how easy & effective it is to maintain the invoices electronically.
So, contact us NOW for further information!!!
