For many, electronic invoicing or short e-invoicing is at least as big a revolution in the business world as email had been compared to conventional mail. This is clearly understood once someone looks at the various benefits of e-invoicing versus conventional invoicing practices.
Electronic invoicing in essence helps to eliminate many otherwise necessary steps in the invoicing process.
Where in the past a business had to rely on traditional mail, had to have extra mail room facilities for sorting and receiving or dispatching, all those steps have become obsolete with modern electronic invoicing.
Not being reliant on traditional mail and mailing-costs along with the absence of the requirement for staff dedicated to invoicing obviously means significant cost savings.
But it is not only the significant cost savings that make electronic invoicing attractive for businesses.
Whereas the time from creating an invoice until it was received and processed had been up to several days in the past, the entire invoicing process now happens instantly. The invoice simply needs to be emailed to a cloud-based service. The service then dispatches the invoice digitally. At the receiving end the digital invoice is immediately processed and confirmed and all this happens in a mere seconds.
E-Invoicing: No requirement for new technology
One of the biggest obstacles in accepting new technologies for many businesses is that they will have to replace existing procedures and/or acquire new technology. Electronic invoicing has the major advantage that this is not required since it is back-comparable with traditional invoicing. As before, a supplier or vendor produces they are invoices in PDF format. The very same document is electronically read by the cloud-based electronic invoice provider. The supplier or vendor does not need to change a thing. This and the fact that there is no financial investment in new technology needed makes the switch to e-invoice very easy. It is really as easy and straightforward and sending emails.
You should consider switching your business to modern and efficient E-invoice because it will provide you numbers benefits.