{"id":719159,"date":"2023-09-28T22:49:22","date_gmt":"2023-09-29T03:49:22","guid":{"rendered":"https:\/\/www.spscommerce.com\/?p=719159"},"modified":"2024-10-03T03:08:14","modified_gmt":"2024-10-03T08:08:14","slug":"5-benefits-of-e-invoicing","status":"publish","type":"post","link":"https:\/\/www.spscommerce.com\/eur\/blog\/5-benefits-of-e-invoicing\/","title":{"rendered":"5 Benefits of E-Invoicing"},"content":{"rendered":"<p><em>Updated on July 24<sup>th<\/sup>, 2023<\/em><\/p>\n<p>E-invoicing is a significant component of any well-oiled supply chain. Now that it&#8217;s becoming mandatory in Europe with the ViDA project to come, we wanted to show you the benefits of e-invoicing. To keep it short and sweet, we asked SPS Commerce\u2019s EDI and e-invoicing specialists to lay out the top 5 benefits of electronic invoicing.<\/p>\n<h2><strong>1. One set e-invoicing standard<\/strong><\/h2>\n<p>Around the world, more and more organizations are continuing to adopt e-invoicing as their preferred\u00a0B2B invoicing\u00a0method. Although many adopt e-invoicing by choice, this isn\u2019t always the case\u2014there have been a lot of\u00a0local regulations\u00a0that determine the way in which an organization is required to send, record, and store all transactional documents. In this sense, there\u2019s a need for e-invoicing. But considering how challenging it is to make sure your organization meets all applicable legal\u00a0standards, in combination with the amount of organizations who are already exchanging invoices electronically, it is, simply put, easier to invest in an\u00a0e-invoicing solution\u00a0that to try to keep up without one.<\/p>\n<p>Today,\u00a0governments\u00a0and\u00a0private organizations\u00a0all over the world are switching to e-invoicing as their standard for sending and receiving invoices. The ViDA project is a good example of the changes that Europe is under.\u00a0With a set standard for sending e-invoices, B2G and B2B invoicing is simplified. As we\u2019ve already mentioned, it\u2019s an easier way to comply with all regulations. With the set standard of e-invoicing, governments and businesses are able to send invoices all over the world with the assurance that their documents are\u00a0traceable and secure. Thanks to these e-invoicing standards, there\u2019s no need to worry about unapproved invoice forms.<\/p>\n<h2><strong>2. Automated electronic invoice processing eliminates errors<\/strong><\/h2>\n<p>E-invoicing can seem very complicated at times, leading many organizations to believe that there are a lot of risks or problems involved. This is especially true when different (international) business transactions are in the mix. But e-invoicing doesn\u2019t have to be complicated. That\u2019s because one of the major benefits of e-invoicing is that is can be completely automated. Unlike when manual processes are involved, if your B2G and B2B invoicing is automated, there\u2019s very little room for mistakes. That\u2019s because\u00a0automated electronic invoice processing\u00a0eliminates the need for human interference. Without manual input, there\u2019s immediately an improvement in productivity, processing speeds, and reduction of errors.<\/p>\n<h2><strong>3. B2G and B2B invoicing costs are decreased<\/strong><\/h2>\n<p>With an automated e-invoicing solution, manual mistakes are prevented and invoices are processed and paid more quickly. This can have a huge impact if you\u2019re looking to optimize your\u00a0procure-to-pay\u00a0or\u00a0order-to-cash\u00a0processes. That\u2019s because when you eliminate human errors, you have the potential to\u00a0decrease costs\u00a0associated with chargeback, time spent on invoicing, and more. With electronic invoicing, you can do more work without the need to hire more people.<\/p>\n<p>In other words, implementing an automated e-invoicing solution yields immediate savings. In fact, you can reduce B2G and B2B invoicing costs from 25-50% with electronic invoice processing. And by decreasing costs, you can process invoices more efficiently and use personnel more effectively, leading to an improved cash flow.<\/p>\n<h2><strong>4. Supplier and buyer relationships are improved<\/strong><\/h2>\n<p>Automating B2G and B2B invoicing quickly improves collaboration with all your\u00a0trading partners. For one, there are no more lost or delayed invoices. With a trustworthy e-invoicing solution, you can guarantee timeliness of delivery, as well as accuracy. Speaking of accuracy, another benefit of e-invoicing is that you partners won\u2019t be tracking you down to fix mistakes. That means invoices are paid faster, and your relationships with your partners are improved. In return, you can create more business due to the automated upkeep with your current partners.<\/p>\n<h2><strong>5. Processing and payment cycles are completed faster<\/strong><\/h2>\n<p>Without an automated e-invoicing solution, it can be difficult to manage accounts efficiently and professionally. There\u2019s often a slower collection time, which leads to an increase in debtor days. With an automated e-invoicing solution, the purchase process streamlined. You have full control over your B2G and B2B invoicing processes, as well as access to valuable insights and an overview of your entire workflow 24\/7.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Updated on July 24th, 2023 E-invoicing is a significant component of any well-oiled supply chain. Now that it&#8217;s becoming mandatory in Europe with the ViDA project to come, we wanted to show you the benefits of e-invoicing. To keep it short and sweet, we asked SPS Commerce\u2019s EDI and e-invoicing specialists to lay out the [&hellip;]<\/p>\n","protected":false},"author":175,"featured_media":719226,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[32139],"tags":[],"class_list":["post-719159","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-e-invoicing-2"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>5 Benefits of E-Invoicing - SPS Commerce<\/title>\n<meta name=\"description\" content=\"Now that the ViDA project is on the road, we want to highlight the benefits of adopting e-invoicing.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.spscommerce.com\/eur\/blog\/5-benefits-of-e-invoicing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"5 Benefits of E-Invoicing\" \/>\n<meta property=\"og:description\" content=\"Now that the ViDA project is on the road, we want to highlight the benefits of adopting e-invoicing.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.spscommerce.com\/eur\/blog\/5-benefits-of-e-invoicing\/\" \/>\n<meta property=\"og:site_name\" content=\"SPS Commerce\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/pages\/SPS-Commerce\/115540161807561\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-29T03:49:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-03T08:08:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.spscommerce.com\/wp-content\/uploads\/2023\/08\/5-benefits-e-invoicing_SPS_Website_2024.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Faustine Tournay\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@SPS_Commerce\" \/>\n<meta name=\"twitter:site\" content=\"@SPS_Commerce\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.spscommerce.com\\\/eur\\\/blog\\\/5-benefits-of-e-invoicing\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.spscommerce.com\\\/eur\\\/blog\\\/5-benefits-of-e-invoicing\\\/\"},\"author\":{\"name\":\"Faustine Tournay\",\"@id\":\"https:\\\/\\\/www.spscommerce.com\\\/eur\\\/#\\\/schema\\\/person\\\/91d4e1f83c9b78602de606e21f079aa1\"},\"headline\":\"5 Benefits of E-Invoicing\",\"datePublished\":\"2023-09-29T03:49:22+00:00\",\"dateModified\":\"2024-10-03T08:08:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.spscommerce.com\\\/eur\\\/blog\\\/5-benefits-of-e-invoicing\\\/\"},\"wordCount\":709,\"publisher\":{\"@id\":\"https:\\\/\\\/www.spscommerce.com\\\/eur\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.spscommerce.com\\\/eur\\\/blog\\\/5-benefits-of-e-invoicing\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.spscommerce.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/5-benefits-e-invoicing_SPS_Website_2024.jpg\",\"articleSection\":[\"E-invoicing\"],\"inLanguage\":\"en-EUR\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.spscommerce.com\\\/eur\\\/blog\\\/5-benefits-of-e-invoicing\\\/\",\"url\":\"https:\\\/\\\/www.spscommerce.com\\\/eur\\\/blog\\\/5-benefits-of-e-invoicing\\\/\",\"name\":\"5 Benefits of E-Invoicing - 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