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For managers

In addition to buyers and suppliers, other business managers – including line-of-business managers, CIOs, treasury and purchasing – also experience significant benefits from e-Invoicing. Increased process efficiency means that managers have greater control of planning and forecasting as well as the ability to deliver higher levels of customer service. Some of the key benefits for managers include:

Improved visibility

Invoicing on paper means that there is a delay in the invoice becoming visible within the accounting systems. This has implications for the accuracy of forecasting and forward planning. Within your treasury function, the ability to see the invoice as soon as it is issued provides a much greater level of certainty and control.

Optimised cashflow

For many companies the ability to optimise their working capital is essential. It improves business agility and can minimise the need for external financing. By shrinking the order-to-pay and order-to-cash cycles, e-Invoicing allows businesses to receive payments in a timely manner and take advantage of any discount schemes that may be available.

Improved compliance

By working with a third party e-Invoicing provider, organisations can take advantage of systems where the regulatory compliance issues for different countries have already been accommodated. This means that the company does not need to have the tax expertise for every region in the world, removing one of the significant barriers from entering a new market or new territory.

Improved supplier/customer relationships

Making the invoicing process as effective as possible reduces the amount of disputes that arise and ensures that the organisation can deliver a high level of service. Moreover, by integrating with the systems of your customer or supplier both parties are making a significant investment in the longer term nature of the relationship.

Enhanced IT system optimisation

In most cases, e-Invoicing does not demand a large technology overhead. Most IT departments can implement the secure connectivity and data transmission necessary through optimising their existing IT infrastructure or using a third party provider. IT managers are able to minimise the resources required to support e-Invoicing functionality.

Meeting green initiatives

e-Invoicing eliminates the paper and transportation of paper from supplier to buyer. While removing one paper invoice will not save the planet, digitising a proportion of the 30 billion invoices sent in Europe each year will have a significant impact. As well as helping to meet the sustainability objectives that most companies are now setting themselves, the ability to reduce printing and mailing simply represents good business practise.

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