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.
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?
download the full guide to read more…