Apart from reducing costs related to paper and shipping, some of the significant cost savings from E-Invoicing come from increasing efficiency and reducing the risk of clerical errors. On top of that, accounts receivable and payable teams can focus on more value-generating tasks by removing the needfor manual data entry and filing.

This improved efficiency also means that you can increase invoice volumes without necessarily having to increase staff.

By ensuring that invoice data is transferred without loss of information or risk of cleri- cal errors, you can increase the availability and accuracy of data in your systems. As a buyer, you reduce the risk of paying faulty invoices or entering the wrong details. As asupplier, you increase the invoice accep- tance rate from the customer and reduce the time it takes to get paid.s

Reducing friction and problems in communication is essential to maintaining good relationships. Irrespective of being a buyer or a supplier, a digital and automated invoice process improves business relations and trust. By enabling system-to-system communication, you remove factors that commonly cause delays, errors and unnecessary manual work on both sides.

Tightening up digital security is increasingly essential for all business, especially for those who handle personal or sensitive data. Remember: all non-encrypted digital information is susceptible to hacking! With the right service provider, e-invoices are encrypted throughout the entire distribution process. So, moving towards E-Invoicing is safer for your company as well as for your customers and suppliers

Many companies are trying to reduce their environmental footprint as part of their ESG (environmental, social and governance) goals. Implementing an E-Invoicing policy can help companies reach certain ESG goals by reducing paper as well as unnecessary transport and shipping.