AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |
Back to Blog
Web invoice definition12/6/2023 Secure document and data exchange: Encrypted file transfer, digital signatures, and secure networks all make e-invoicing the safest way to send and receive invoices. Electronic invoicing also provides greater visibility into invoice status and payment history, making it easier to track and manage payments. Improved cash flow management: E-invoicing allows businesses to receive payments faster, improving their cash flow management and lower DSO. It also enables faster processing and approval of invoices, leading to improved efficiency. This allows businesses to focus on more strategic activities.Īccuracy and efficiency: Using digital methods reduces the risk of errors and inaccuracies that can occur with manual invoicing processes, such as data entry errors and lost invoices. Time savings: Automating the invoicing process saves time by reducing the need for manual data entry and processing. Here are some of the advantages of e-invoicing that add up to high ROI, long-term savings, and better results in general: So, where do all that savings come from? When done right, e-invoicing gives you an overview and insight for cutting costs and increasing profit margins that aren't possible with PDF and paper-based methods. The Billentis Report reveals that "Compared to conventional paper invoice processing, automated e-invoicing will result in cost savings of 60-80% in most cases" (Bruno Koch, "The E-invoicing Journey 2019-2025," 4.1.5). Table: Comparison of the benefits of different invoice types When in doubt, always refer to the previously mentioned definitions. So, keep in mind that not all digital invoices are genuine e-invoices. However, it's important to note that these alternate terms may not always encompass the same definition. The terms "digital invoice," "online invoice," and "e-bill" are sometimes used when referring to "e-invoice" or "electronic invoice". ![]() In addition, emailed invoices often need to be printed in paper for matching and archiving purposes. However, these are not true e-invoices because the recipient must manually key in or capture the data using OCR technology. These types of invoices are commonly mistaken as e-invoices. Invoices exchanged over email as PDF, Word documents, or other image files are a first step away from a paper-based invoice flow. It takes time for the invoice to reach the recipient, and there is no traceability of the delivery. Paper invoices are often created digitally, printed, and sent by post to the counterpart. Here's a quick overview of the most common types of invoices that are not considered e-invoices and how they compare: Paper or printed invoice
0 Comments
Read More
Leave a Reply. |