E-Invoicing is not less revolutionary than e-mail although not many suppliers and online vendors take yet advantage of it. Simply spoken, e-invoices can save you a lot of time and money.
There are many suppliers today which may well use all the latest tech when it comes to ordering and mailing their goods, yet, their invoices are still the same PDF files that get printed out on paper and will then be mailed. On the other end, the receiver of the invoice will have to manually enter the invoice data into their systems to process them. A lot of time is wasted by doing this.
Electronic invoicing has the advantage that it can make use of the very same PDF invoices that many suppliers use. Rather than mailing the invoice on paper or just adding it to a shipment, the invoice is emailed to a cloud-based electronic invoice service.
The e-invoice provider service is digitally reading the invoice and dispatches the information it to the receiver. On the receiver’s end, the digital invoice can immediately be automatically processed.
Advantages for the supplier are that they can immediately switch to e-invoices since it doesn’t require any change in their current process. Most immediate steps that were previously required to send and receive invoices are not needed any longer. Creating, receiving and having processed an invoice can happen in a minute or less as compared to several days when an invoice had to be sent via mail.
If you’re interested in switching to electronic invoicing I recommend you see the Cloud Trade Network for the latest e-invoice information and the many benefits it will have for your business.