How digital invoicing streamlines your AR and AP

Electronic exchange offers a range of benefits over a labour-intensive, paper-based approach.

These include ease of use and the elimination of manual key entry mistakes introduced by human error.

Digital invoicing refers to the use of dedicated software to replace the manual effort of invoice processing.

Ultimately, digital invoicing helps you streamline repetitive processes, so minimising costs, boosting accuracy and efficiency, and expediting payments as you interact with your trading network.

Compared with paper-based systems, it can reduce costs by up to 80% and improve security, regulatory compliance and auditing time.

For example

A report by Atradius UK in 2018 found that two-thirds of suppliers had achieved faster payments after the adoption of digital solutions for invoicing. By minimising the costs of managing their supply or distribution networks, they had kept their cashflows healthier.

Transalis eInvoice™ digital invoicing platform offers you a host of benefits to help your accounts team engage with trading partners.

The platform is widely used by finance directors and controllers, procurement managers and heads of AR and AP in sectors including manufacturing, electronics, pharmaceuticals and advanced engineering.

Unlike other providers, we offer you flexibility on service input and complete transparency on cost through four separate eInvoice™ product solutions.

The choice of bundle depends on how many trading connections you have and what you want to achieve through digital invoicing.

Companies looking to optimise AR and AP processes, including those such as niche manufacturers taking their first steps into digital transformation, will find eInvoice Essential of particular help.

Like the other bundles, eInvoice Essential helps you increase efficiency through easy integration with your ERP and financial systems. It provides automated validation of invoice data along with a deep-store archive to reduce auditing time and costs.

Crucially from the AP and AR point of view, eInvoice Essential enables you to record all AP and AR invoices with a digital time and date signature. This is a great boost for complete, end-to-end process visibility, tracking and analysis.

As well as improving efficiency, digital invoicing from Transalis provides you with instant real-time reporting, an increasing requirement of international tax rules if you have overseas trading partners.

You also have the reassurance that Transalis is recognised as one of just five providers in the world to fulfil the EU’s requirement for a common eInvoice standard.

Coupled with this, we are a PEPPOL-accredited provider, which means we comply with the highest EU standards for European trade with both the private and public sectors.

We know from years of experience that partner relationships and productivity can both be improved through efficiency gains afforded by moving from manual to digital invoicing.

Complementing our eInvoice product bundles is a fully-supported onboarding process to bring your trading network onto your digital platform:

• An outreach communication programme is a core component, guaranteeing a higher adoption rate of your trading network than other digital invoicing providers.
• We work with you to establish and maintain processing connections with companies in your trading network.
• We nurture workflows through email and phone contact and offer a partner registration page branded with your logo.
• User training sessions for your partners are backed by contact and document exchange testing, a full support guide and ‘walk-through’ videos.

In addition, you have a dedicated Transalis account manager who you can contact at any time throughout the onboarding process. Once live, as well as your account manager, you can put any issues or questions directly onto a support portal for speedy resolution.