With electronic invoicing you get a faster and more efficient method of handling invoices in your accounts payable department. Among the advantages of digital invoices are the reduced administration and the increased searchability when accessing the invoices in your organisation.
An electronic invoice, or an e-invoice, is an invoice which is both sent and received electronically. Once the invoice is available in a digital format, it can automatically be interpreted by an invoice processing system.
For all the organisations and businesses that want to increase efficiency and want to improve their work processes, digital invoicing is the perfect solution.
In what way does an electronic invoicing process streamline and improve the work process?
1. Time efficiency
Both finance staff and approvers save time by working with invoices electronically in a workflow where everyone can follow the status of the invoice.
Finance staff and approvers always know where an invoice is in the organisation. With e-invoices you also reduce the number of errors – invoices will arrive directly, not be lost along the way and paid on time.
With electronic invoices you will not have to search through paper folders to find your invoices. Using the search function in the system, you can instantly access old invoices, without having to even be in the office. Searching for all invoices is also made easier using special criteria such as a certain supplier, a project or within certain date ranges.
By sending e-invoices your company does not only save time and money, it is also a safe and an environmentally friendly way for businesses to manage invoices.