The Art of Mastering Services
Why Electronic Invoicing is Important.
Computers have brought a lot of changes in the business world and going paperless is one of the aspects which have been trending for a long time. Depending on the company size, there are businesses which generate hundreds of invoices every single day which is why it only makes sense if the process is automated. Sending email invoices is becoming a problem because for the buyers to get all the information they are looking for it will be a while. There is also the mail float issue which increases the time it takes for the buyer to get the buyer. For those who are still with the postal system in sending paper-format invoices, it is even more inconvenient. E-invoicing is quite straightforward and you will not have to spend hours trying to figure out all the details. The platforms used in forwarding the electronic documents are very reliable which means you will have the assurance that the moment you click the send button on the document it will be delivered within minutes if not seconds. The speed of the process is commendable because time wastage is never an issue a business wants to be associated with.
If you are sending electronic invoices, expect to get your money faster. There is usually a protocol for making payments and not getting the figure and writing a check. The person who receives the bill will have to confirm the validity of the invoice, the kind of business that was carried out, vendor name and even the number. It could have been a whole different story if these businesses were to do the validations manually. There are vendor inquiries regarding the payments that will be raised after the invoices have been sent are costly. A lot of companies pay a lot of money for this.This is a cost you can eliminate altogether if you are doing invoice.
Many people have had to deal with lost paper invoices and emails. Upon a loss, there will be efforts to find what has been lost and this might actually take some time and by the time it gets back to you that you will have to prepare a fresh invoice it might be several day later and if you were pressed for cash it will be a great inconvenience. It is not just the seller who benefits from this system but also the buyer in that he or she will have a reference of every invoice to be processed so that proper arrangements can be made to make sure the right thing is done on time. Also, the fact that the payments are made on time means you will not have to resort to borrowing to cover for delayed payments.