While there are still businesses and firms that use the traditional way of invoicing through pen and paper mode or slightly digital method of using word or pdf documents, this approach of invoicing is slowly dying and fading away due to its redundancy and costly maintenance. In the modern world, it makes more sense to make the whole process of billing and invoicing digital from beginning to end. This has multiple benefits for any business, small or big, and also is trust worthy and safe to use.
What is e-invoicing?
An electronic invoice, also known as e-invoice, is a digitally processed document that is created by the seller’s ERP system and is transmitted to the buyer digitally as well. There is no involvement of punching of each data into a word document or scanning and uploading a physical receipt to a cloud server. The process of e-invoicing uses the already existing data about the product or service from its servers and inputs the clients’ or customers’ required data from the existing database as well. There are also user-friendly ways to customise the data and streamline them as per the requirement of the enterprise.
What are the benefits of using e invoicing software?
An e-invoicing software takes care of the whole process of managing the invoicing procedure from the ERP software to the CRM databases. There are many benefits of this kind of service such as:
Real time processing and delivery
Usually with other modes of invoicing, there is a delay in inputting, processing and transmitting of invoices with clients and other relevant parties. With e invoicing solutions, that is not the case. The data is retrieved, processed and presented in no time and all the updates are available in real time to all the involved parties.
With e invoicing, you don’t have to fear losing your data. With various levels of security, only the authorised parties can access the data as per their respected allowed limits. It is easy to track every data so the data cannot get lost or be mishandled.
Accuracy and high quality
When the whole process of invoicing becomes digital, there is negligible chances of error and low quality. Your e-invoicing software will always offer consistent and accurate results at all times.
E-invoicing software are built in such a way that it can be used by anyone without much difficulties. There are existing FAQs and details portal for each step involved which can assist the users in case of confusion or difficulty in understanding.
As there are less people involved and the cost of capital is also very low overall, this method saves not only a lot of time but also money. It is easy to install and effective to use for different businesses.
Thus, it can be concluded that using e invoicing software can be really beneficial for your business not only in the real time but also in the long run. You can save yourself from the headache of managing piles of receipts and go digital to manage and use your data securely and easily.