Unlock the benefits of financial automation with e-invoicing
Invoices are in the heart of both your purchase-to-pay (P2P) and order-to-cash (O2C) processes, and they are the core element in trade relationships. Electronic invoicing, and even more so the functionalities and automation that e-invoices enables, are the key to unlocking the full potential of cash and working capital management, gaining true end-to-end finance visibility and deriving benefits and added value for all parties in the supply chain.
We are the pioneers in developing e-invoicing, electronic payments and electronic workflow, and streamlining financial, procurement and document processes further with automation. As experts we provide you with a comprehensive, compatible and cross-border invoicing framework, which meets the needs of your financial management and also takes into account the expectations of your customers and suppliers, regardless of the business segment or industry you operate in. We can help you to achieve significant, straightforward savings in operational process cost while creating a truly integrated solution that also meets your strategic business needs.
Paper-based invoicing process costs time and money, and every manual phase required in the process increase the risk of errors, which in turn easily lead to further delays and additional costs. Inaccurate information is a major reason for payment delays that can result in late payment fees and cause dents in supplier relationships, for instance, and on the other hand; low automation in O2C process is known to cause most of the errors, leading to contacts to the customer service, invoice disputes and credit notes. The characteristics of a true, structured e-invoice – processed end-to-end and archived electronically in compliance with tax and other regulations, including necessary digital attachment files – make it possible to streamline, simplify and standardize processes both in accounts payables (AP) and accounts receivables (AR) and reach high automation. Automating invoice cycles, whether you are the buyer or the supplier in the supply chain, drives downright savings in processing and FTE costs. Further down the road, the automation leads to business efficiency, maximized value of trading partnerships and improved control and visibility for financial management. Not to mention the electronic invoices are green by nature.
Especially among SME suppliers, the initiation to shift to e-invoicing often comes as a request from larger trading partners. But there are many reasons for the suppliers to engage in electronic sales invoices for themselves as well. In accounts receivables, e-invoices help to ensure high data quality and fast delivery of outbound invoices cutting out days from the order-to-cash cycle. The time needed to deliver an electronic invoice is a fraction of the time needed to deliver one in paper. When in addition the electronic format enables the customers to speed up the approval processes on their side, suppliers can reduce their Days Sales Outstanding considerably. Accuracy and timeliness of the invoicing will result in fewer rejected invoices and also reflect on the customer satisfaction, which organizations valued in our survey as one the most important objectives when developing their AR processes.