Writing an e-invoicing business case
A step-by-step guide to developing a successful e-invoicing business case. Based on over a decade of delivering e-invoicing solutions for global brands.
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Excerpt from the e-invoicing business case guide:
Identify the need for e-invoicing
Everyone around the boardroom table has a different agenda. Matching the benefits of paperless processes with specific agendas is key to getting buy-in, and without this the project won’t move forward.
Every business is different, but a business case for e-invoicing may seek to address pains and challenges including: costs, time inefficiencies, competitive shortfalls and lack of insight. The following questions can help identify the needs and quantify the benefits.
- How many invoices does the business send each month?
- What percentage of these are printed?
- How much does it cost to print and post each invoice, including the time to stuff envelopes and equipment costs?
- How often does the print and post equipment fail, leading to distribution delays?
- How much time is spent chasing late payments?
- How much time is spent on payment reconciliation?
- What percentage of invoices are paid late?
- What is your Days Sales Outstanding (DSO) figure?
- What percentage of invoices have inaccurate details on them (often resulting in delayed payments)?
- How many people (Full Time Equivalents) are employed to handle invoicing? What is the cost of this (salary and benefits)?
- How much time is spent reporting on invoicing status and performance?
- How much time is spent, or is expected to be needed for, preparing invoicing records for audit?
- Have you ever lost business, or failed to win new business due to the inability to automate or integrate invoicing with a buyer or partner’s requirements?
- Do you know which buyers are late payers?
- How much insight do you draw from your invoicing records at present? Would there be value to the business in identifying what is invoiced where and when?
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