Create the Perfect e-invoicing Solution
Create the perfect e-invoicing solution with this eBook as your guide. This eBook is set out to provide quick access to key facts and insights, vital to any e-invoicing deployment.
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Excerpt from the eBook:
e-invoicing is something of a buzzword these days. Fast gaining popularity across the world, with talk of cost savings, improved efficiency and a long-overdue modernisation of the invoicing process.
Challenges of current invoicing processes
Invoicing is traditionally a labour-intensive process, with many organisations still sending the majority of invoices out as printed copies. A typical accounts receivable department spends several days each month printing, stuffing envelopes and franking for post.
These labour-intensive processes run the risk of human error, and provide little management visibility of delivery or readership.
Furthermore, whilst preparing and sending invoices, there is often little focus on chasing invoice payment. Perhaps this is why over 40% of B2B invoices in the UK are paid late?*
The needs of the business
As any business leader knows, free cash flow is one of the most important metrics to determine a healthy businesses. Invoicing and receiving payment on time is critically important to achieving this. Anything that can be done to reduce delinquency, and shorten payment timeframes supports this need.
There’s an old adage that revenue is vanity, profit is sanity. It’s worth remembering an extension to this in that cash flow is reality. Businesses can make a loss and keep going for years. Run out of cash just once and you’re out of the game.
Become an e-invoicing solution hero
As you’re reading this eBook, you’re clearly on the path to a better understanding of e-invoicing. This book is designed to help support your journey, explaining the different solution types, key considerations, pitfalls and risks.
Ultimately, this should help you successfully present an e-invoicing solution to the rest of the business and make its deployment a success.