One of the best way suppliers or businesses can send their invoice is through e invoicing. This is because these invoices are automated and therefore the process becomes more efficient. The process does not only allow business to save on costs but to have smooth operations as well. Some of the other benefits of e invoicing are briefly highlighted below.
Manual invoices can have wrong figures entered by mistake. This in turn may compromise the accuracy of the invoice since it will have errors. With e invoicing you do not have to worry about the accuracy of the invoice since the figures are automatically entered and therefore correct.
It is easy to reduce fraudulent activities with E invoicing. Duplication and forgery of invoices is hard with e invoicing. Since each e invoice is unique, it is hard for fraudulent invoices to be presented.
A lot of time is saved when e invoicing is used. Work is made easier since the process is streamlined. This way, people working in this departments can focus on more productive things.
Companies can go green when they use e invoicing. With this mode of invoicing, paper does not have to be printed. Going green initiatives helps to save trees which you will be doing when you do not print out invoices.
With e invoicing better accounts reconciliation is realized. Reconciliations are therefore done periodically. Amounts are also easy to trace thanks to the streamlined process that e invoicing gives.
Payments can be processed faster with e invoicing. The authenticity of invoices is easy to prove. Payments can be made expeditiously since invoices are processed faster.
When invoices are on time and payment is done on time, it helps to improve relationship between a business and supplier. This relationship is important because it makes easier to refer the business or supplier to other people in the network. Such relationships can turn out to be beneficial in the long run and help businesses to expand.
Automated invoices are also ideal because they help in improving compliance. Whether it is compliance with authorities or other professional bodies e invoicing helps to improve all necessary compliances. This makes it easy for such business to not only be trusted with authorities but with other customers as well because they are using e invoicing.
If there are any disputes when it comes to invoices and payments, it is easy to resolve with the help of e invoicing. The validation and tracing of such records is easy. Manual forms of invoicing is difficult to trace and validate and consequent disputes are hard to solve making e invoicing ideal when it comes to solving financial matters.
E invoicing makes it easy to manage cash. It is easy to predict your income and expenses. Being able to accurately predict your cashflows helps you to manage your cash well.