eInvoicing Basics

15 reasons why companies are switching to eInvoicing

Here are 15 reasons why many companies are switching to eInvoicing to help over-worked accounts receiveable and accounts payable departments

Transalis·27 April 2021

15 reasons why companies are switching to eInvoicing

Increasing numbers of companies are realising the benefits of optimising their invoice processes.

Sometimes this is part of a wider digital transformation strategy across the entire business, but in many cases, it’s a cost-effective way to replace repetitive, error-prone and labour-intensive tasks with something far more efficient and accurate.

Not only does eInvoicing help you to remove human error from your invoice processing, but it also enables you to free up your account’s resource so they can focus on tasks that add value to your business. In effect, turning your accounts department into a profit rather than a cost centre.

As a result more and more companies are switching to eInvoicing.

According to an international market report by Swiss company Billentis, eInvoicing can provide savings of between 60% and 80% compared with the costs of conventional paper-based invoice processing.

Check out out the Transalis eInvoice Country Directory for details about the invoicing requirements of individual countries.

And if that's not enough to convince you, here are a few more reasons to make the switch:

Avoidance of manual keying-in of data entries and the manual effort needed to match orders to invoices
Greater scope to deploy AR and AP staff on other, higher-value initiatives
Reduction in DSO (days sales outstanding), often by several days
Better cash flow
Greater accuracy, as only correctly formatted and populated invoices enter your internal systems
Real-time views of delivery and processing status
Better security, through protections such as encrypted file transfer, safer exchange networks and digital signatures
No risk of invoices being ‘lost in the post’ or ending up in spam folders
Easier analysis of data to inform decisions on finance and procurement
Better engagement with trading partners who also use eInvoicing
Support for your audit trails through automatic tracking of transactions
Boost for environmental credentials by avoiding paper
Ready compliance with increasingly prescriptive B2B and B2G invoice regulations in different countries
Can be operated by teams working remotely
Easier to authenticate, store and trace digitised versions for mandatory record-keeping (for example, records need to be kept for six years in the UK and ten years in Germany)

If you want to find out more, here are links to more information:

Transalis eInvoice™ products
Benefits of eInvoicing
Find out how much you could save with eInvoicing

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