Article
17/12/2024
e-Invoicing
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Advantages for the issuer
The most obvious advantages concern cost: no need to worry about paper, envelopes and stamps anymore! While an e-invoicing system does come with an initial setup and monthly costs, a portal will go on to provide you with huge cost savings starting from its very first month in action. In addition, it is easier to create and issue an invoice directly from the portal’s user interface. All invoices are received immediately, with acknowledgement of receipt, and can be traced and reissued if necessary. The legal advantages are also important—as each invoice can effectively be tracked, traced and archived, they are easy to reproduce in the case of error or dispute.
Numbers show that there is an increase of 23% of invoices that are paid on time when they pass through an e-invoicing portal rather than through the traditional invoicing method. What’s not to love about that?!
And what about the receiving end?
Those on the receiving end of the portal also gain from its use in both cost and time savings. The system can be configured to involve only those who are part of the processing and payment of invoices, cutting out the middleman, and each invoice can easily be verified and traced as needed. Basically everyone has something to gain from using an e-invoicing portal!
