The advantages associated with electronic invoicing

E-invoicing, or electronic invoicing, streamlines invoice management and simplifies how invoice and compliance documents work together.

By digitizing invoice data and matching it against contracts, purchase orders, service entry sheets, and goods receipts, e-invoicing reduces the risk of invoice errors and exceptions. When e-invoices are transmitted over a digital business network, and programmed with related document data and business rules, they can be validated automatically before posting for payment. And because digital information is more easily viewed across systems than paper sitting on someone’s desk, e-invoicing makes it easier to:

• Manage cumbersome compliance tasks from a dashboard
• Facilitate collaboration within the organization and among trading partners
• Maximize early-payment discounts and optimize working capital
• Lower the risk of overpayment and fraud
• Improve cash flow for suppliers with more timely payment