How to find the right e-invoicing solution for your business
5 January 2022
Written by: Meredith Moran
Finding the right e-invoicing solution can be tricky, but within the next few years, e-invoicing will be required for most companies worldwide. How do you find an e-invoicing solution that sets you up for success? We say, ask the experts! And that’s exactly what we did to create our e-invoicing e-book. Get a sneak peek here and download the whole guide for free!
Disharmony in the world of e-invoicing solutions
As more businesses move away from paper invoices, it’s important to know that genuine electronic invoicing is more than just sending digital documents. As we’ve covered before in the What is an e-invoice blog, e-invoices are issued and transmitted digitally between the financial systems of a buyer and a seller. This means zero paper or PDFs, which require manual export and import of data.
Why then, is there still so much disharmony in the world of e-invoicing? Much of this has to do with how B2B e-invoices are defined by country and region, a lack of standardization across the industry, and varying levels of market maturity around the world.
Despite these inconsistencies, Billentis states in The e-invoicing journey 2019-2025 that by 2025, “80% of organisations will be forced either by legislation or important trading partners to exchange invoices just in electronic format,” (B. Koch, 2019).
This doesn’t leave much time for companies that are still reliant on paper or PDF invoices to get ahead of these changes, but the right solution is out there!
“By moving ahead to genuine system-to-system e-invoicing, businesses can reduce costs, increase visibility, provide better services and fulfil government requirements.”
The world is moving towards e-invoicing
As the world becomes more digital, automated processes help us remove clerical errors, increase efficiency and operate across borders with ease. By moving ahead to genuine system-to-system e-invoicing, businesses can reduce costs, increase visibility, provide better services and fulfil government requirements. All this is done through an e-invoicing solution that ensures data is transmitted automatically, accurately and securely.
So, how do you find an ideal e-invoicing solution that fits your business needs? It starts with some research, sure – but it can be hard to know where to begin. That’s where we want to lend a helping hand! By going straight to the source of experienced experts in the field, we’ve compiled a comprehensive guide that includes:
- The benefits of e-invoicing: a detailed description of the top 8 advantages of e-invoicing
- How to measure savings and benefits: selecting KPIs and success metrics
- The current e-invoicing landscape around the world: a regional breakdown of market maturity and various e-invoicing models
- Driving forces behind e-invoicing: why digitalization is no longer optional but imperative
- Factors at play when choosing an e-invoicing network and platform: the impact of local legislation, open vs. closed networks and supplier portals
- How to define the scope of your e-invoicing project: important considerations for planning a successful e-invoicing project
- How to choose the right e-invoicing service provider: essential tips for selecting a service provider that works with your needs now and in the future
Don’t fall behind
If you don’t want to let your business be held back by an outdated invoicing process, the time to act is now! You can download our free e-invoicing e-book for best practices and expert tips to set you on the right track.