For almost any business owner, and here it doesn’t matter what size a business may be, cost savings and operating at peak efficiency are always top priority. One area where the business owner can see dramatic cost savings is by replacing their traditional invoicing process with e-invoicing.
What is E-invoicing?
With E-invoicing, most of the steps involved with traditional invoicing such as mailroom, post, printing, sorting and registration become unnecessary and obsolete. The supplier can send electronic invoices right to the customer without all those steps necessary. In some cases, suppliers can save up to 70% on costs just from switching to electronic invoicing.
What makes e-invoicing in particular appealing is the fact that it is compatible with most existing forms of conventional invoicing. What this means is that a supplier does not need to acquire new technology to switch to electronic invoicing nor will there be any large financial investment required.
Modern e-invoicing systems take advantage of the fact that almost 90% of invoices today are created as electronic PDF files. Those documents can be read and then digitally processed. What this means is that the supplier simply emails a PDF invoice and the customer will receive the electronic e-invoice data within minutes.
Any supplier can be an e-invoice supplier. With modern cloud-based e-invoice systems there is no reason to worry since those systems can use existing tools and processes seamlessly. The significant cost savings and faster and more effective operations make e-invoicing the recommended invoicing alternative for many types of businesses today.