6 Business Benefits of e-Invoicing
We have already looked at an introduction to e-invoicing and how it works. The next part of our series looks at the benefits of e-invoicing to suppliers.
Automating the invoice process and removing paper invoices leads to the following benefits.
1. Cost Savings
Adopting e-invoicing allows your invoices to be handled and stored much more efficiently, and eliminating paper leads to overall savings in postage, printing, and storage of paper.
Stamps and envelopes alone can produce significant business costs as time goes on.
2. Reduction in Business Administration and Increased Productivity
E-Invoicing gives you full visibility as to whether your customers have received your invoice and the time they received it at. This reduces the need for enquiry driven phone calls, freeing up your time - or your customer service team - to address other business issues. Your customer no longer needs to manually re-key the invoice data, reducing the potential for data entry errors, meaning fewer rejected invoices that have to be addressed.
3. Faster payments and greater efficiency
The transfer of the invoice is naturally much quicker when done electronically as opposed to by post. E-Invoicing also eliminates any delays that may result from your customer manually sorting the invoice data into their own back-office systems. The data is immediately available to the customer in their systems, so the invoice can be routed for faster approval.
As a result, you get paid quicker.
4. Improved customer satisfaction
Your customers can approve and process your invoices much quicker, with no risk of human errors, meaning they are spending much less time dealing with your business on the administration side of things, leading to increased overall satisfaction with you as a supplier.
5. Less Security Risk
The entire process is monitored carefully and can be tracked, eliminating human error that may lead to data breaches, as well as enabling you to fight any cases of fraud.
6. Regulatory Benefits
E-Invoicing also helps you to stay tax compliant, as the process ensures guaranteed data accuracy.
E-Invoicing enables you to connect with the Public Sector, and on a wider geographical scale, due to the mass adoption of electronic invoicing within the EU, Supported by EU legislation.
Contact Us to learn more about Connecting to the Public Sector
Using Celtrino as an e-invoicing partner ensures that regardless of the method used to digitally create and send the invoice, it can be easily converted into an e-invoice structure, and imported in to the buyer’s AP application
Celtrino provide instant visibility of all transactions, and enable you to react quickly to customer demands and access real-time data for better decision making.
Celtrino have 30 years’ experience in e-invoicing solutions.
Contact us to learn more about how Celtrino can get you paperless today