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e-Invoicing is the efficient way of the Future!
e-Invoice is defined as a fully automated and integrated electronic invoicing solution.
Just 22% of companies use e-invoicing and only 5% of invoices arecurrently sent electronically!
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● Both Europe and the US sends 40-60% of e-invoices to reduce administration costs which leads to the total saving of $8.15 per invoice.
● The latest stats on receiving e-invoices includes the savings of 70-90% occurs with an average savings of $15.00 per invoice.
● The adoption of e-invoicing increases 30% year-on-year and in some markets closer to 50%.● The Financial Services Center in Austin, Texas processes more than $13 billion in invoices
annually.● Currently about only 40 percent of federal invoices are processed through electronic systems.
With e-Invoicing, produce cost savings in AR in the range of 40-60% and in AP, up to 90 percent.
Latest stats and figures:
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e-Invoicing Challenges!
● People are used to the processing of paper billing. As it is easily understandable and free from any hassles except misplacing a check or invoice.
● Make payments via mobile or online can wary of credit cards and security issues arises.
● The businesses concerned to paperless billing lose out on profits from consumers and suppliers.
● Don’t ignore the financial cost of sending, processing, receiving and managing of paper-based expenses.
● Reduction in high number of discrepancies and exceptions
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● Improve operational efficiencies and corporate finances. Let’s assume an example: Incorrect information on invoices can cause the payment delays of 25.7% in the Asia Pacific region & 27.35% in America.
● Invoice data validation is required. As invoice sent to the wrong person can cause further delays of 19.2% in the Asia Pacific region and 21.4% delays in America.
● Also, with the automated system, you can immediately save time and labor cost processing charge.
● Inefficient matching process: With the processing of e-invoice can cut the costs and also time has taken down as compared to manual processes.
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Solutions:Complete B2B Communication
● Manage invoices, purchase orders and expenses with ease.● Send out all documents in a timely manner.● Send and receive purchase orders and convert them into
invoices.● Manage buyers and vendors in a single place.● Receive invoices and estimates from your vendors
Integrate with Legacy Software
● Simplified integration with existing CRM and ERP tools.● API integration to integrate with 3rd party tools and eCommerce
integrations.
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Better Productivity of Business Units
● In case of multiple lines of businesses, tracking time and managing productivity can be quite a challenge.
● Track time and delegate tasks for all your businesses from a single dashboard.
Bespoke Solutions For Your Business
● Customize your invoice templates according to business requirements.
● Client data management, storage and security.
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Simplified Staff Management
● Assign clients, sections and define roles for staff members.● Control staff activity with permissions related to tasks and
accessibility.● New staff members can be added and their hourly rate can be set.● Add the billable time of staff members to project invoices.
Manage Your Subscription Business
● Subscription billing helps in sending bills to customers on a periodic basis, improving productivity of the invoicing process.
● This helps in retaining long term clients.
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