Running a business can be complex. You have to juggle many priorities from managing internal processes to keeping a weather eye on the competition. Thankfully, when it comes to strengthening the efficiency of your administrative activities, you can find direct help from electronic invoice solutions.

If you are thinking about investing in change for the better, what do you need to know about electronic invoicing?

Traditional invoice management has typically involved paper-based systems with their attendant risk of human error leading to costly logjams, disputes with a trading partner or a payment delay. Electronic invoice solutions can instead deliver a host of essential benefits including cost efficiencies for your finance and logistics cost centres and immediate visibility of trading data across the supply chain.

Transalis eInvoice™

Manual to automatic

Electronic invoice solutions resolve many business challenges, including the mandatory requirements for international trade. In short, we’re talking about a software solution that enables you to replace manual processes with electronic or automatic processes.

With electronic invoice solutions invoices go directly onto a cloud-based platform for automated processing so you no longer have the manual task of capturing data arriving on disparate systems in the post or by email.

By minimising the risk of human error, you safeguard cashflow, identify blockages and inaccuracies instantly, as well as gaining a more accurate analysis of trading data for forecasting and ordering.

With more and more governments mandating digital invoices to manage the VAT gap, defined as the difference between expected revenues and the tax actually collected, an electronic invoice solution can help you automatically manage the process of meeting real time reporting requirements.

Cost savings

The removal of manual processes for both Accounts Payable (AP) and Accounts Receivable (AR) teams can lead to substantial cost savings. According to research by Swiss global market analyst Billentis*, switching to an electronic invoice solution can in some cases reduce costs by up to 80%.

This figure is evidenced through faster processing, fewer errors, healthier cashflow and more scope for compliance with the requirements of governments and regulators.

Businesses can achieve efficient invoice processing from point of entry across all internal systems to achieve smoother, more cost-efficient data flows as well as digitising invoice storage for simpler auditing and reporting.

An electronic invoice solution also facilitates the optimisation of other processes including invoice matching and automation of authorisation processes. This can lead to faster payment discounts as invoice payments are authorised quicker.

Cloud platform

Here at digital supply chain technology provider Transalis, we have developed an online platform for electronic invoice solutions, named Transalis eInvoice™, which offers a host of efficiency and governance benefits for both AR and AP teams.

Unlike other providers, we offer you flexibility on service input and complete transparency on cost through a range of eInvoice product bundles including eInvoice Essential, eInvoice Freedom, and eInvoice Connect.

The right solution for your business depends on how many trading connections you have and what exactly you want to achieve from your electronic invoice solution:

eInvoice Connect

Larger companies with up to 75 connections and a need to easily import/export data into business systems will benefit from our top tier bundle eInvoice Connect, which promises to deliver significant operational efficiencies.

Like the other bundles, eInvoice Connect helps you increase efficiency through digitisation of invoice processes. It provides users and their trading partner with access to eInvoice Lite to upload and download digital invoices, as well as a dedicated customer success manager to assist with a smooth transition and onboarding of trading partners.

With whatever product bundle you choose, you have the reassurance that Transalis is recognised as one of just twelve providers in the world to fulfil the EU’s requirement for a common electronic invoice processing standard, known as EURINV19.

With whatever product bundle you choose, you have the reassurance that Transalis is recognised as one of just twelve providers in the world to fulfil the EU’s requirement for a common electronic invoice processing standard, known as EURINV19.

eInvoice Freedom

Ideal for: Organisations with specific requirements wanting to build their own, bespoke, eInvoice solution

BUILD YOUR OWN

eInvoice Essential

Ideal for: Organisations looking to optimise their AP and AR processes and take first steps into eInvoicing

TALK TO SALES

eInvoice Connect

Ideal for: Organisations wanting to improve their invoice processing by eliminating paper and increase efficiency

FIND OUT MORE

eInvoice Connect+

Ideal for: Organisations with multi-territory partners and need to digitally comply with complex local tax regulations

TALK TO SALES

To discuss our electronic invoice solutions and how they can benefit your business, give us a call on 0845 123 3746 (calling from UK) or +44 1978 369 343 (for international callers), or contact us via email sales@transalis.com to discuss your requirements.