Paper invoices have problems that require re-issue and wastage most of the times and 96% of the companies report the same in the previous 12 months of the survey.
Costs incurred in postal mails and scanning can be cut besides saving the valuable employee hours.
Some advantages of the e invoicing include:
- Cost cuts by 79%
- Efficient by 77%
- Improve relations by 60%
Some facts about e-invoicing:
- The European commission estimates the cut in costs of all organizations to $ 18 bn if e-invoicing is adopted
- Increase in the use of e-invoicing by 10% cuts the DSO by three days
- The process time is cut by 5-30 days if e-invoicing is adopted
- e-invoicing enables discounts on 50% of the processed invoices
- The data accuracy is increased due to the fully automated AR and AP processes
- 133 trees will be saved from a million e-invoices