e-Invoicing is the future – what's holding you back?

E-invoicing solutions from Data Capture SolutionsAccording to recent research conducted by Gartner analysts, B2B organisations can save up to 1% of company revenue by switching to e-invoicing. The adoption of e-invoicing is on the rise as the European commission has cleared the legal and fiscal hurdles, and e-invoices are now widely accepted by suppliers across UK and Europe. In addition, enabling technologies have reached a mature stage and stabilised, encouraging organisations to consider e-invoicing.

However, the biggest challenge facing the adoption of e-invoicing is still bringing suppliers on board. The two main reasons why suppliers are reluctant to change to e- invoicing are:

Investment required to set up software systems: suppliers are still not convinced about the return they would get by investing in the set up of a new system and the necessary training.

Maintaining portfolio of customers: It’s difficult for suppliers to maintain e-invoicing for a portfolio of customers that operate different systems. It does not make economic sense for suppliers to download orders and submit invoices from 20 different portals. 

Kofax e-Transactions datasheet Find out more about e-Invoicing software – download the datasheet

Encouranging your suppliers to move away from paper invoicing can be made easier with flexible solutions such as DCS electronic invoicing. Open network solutions give suppliers the option to choose from two easy and low cost options:

Send invoices as PDF’s, images or electronic forms so invoice information can be captured and easily routed into accounting or ERP systems, OR

Use best-in-class Kofax e-Transactions technology to automate the electronic delivery of documents to a business process via secure email, removing the need for printing, mailing, scanning and data entry. The benefits of simpler, more flexible electronic invoicing solutions are seen by both organisations and their suppliers: 

Faster processing – Invoices are delivered directly to business systems or processes, eliminating delays caused in posting, paper handling or data entry. As a result, invoices can be processed to payment much faster.

Fewer exceptions – With electronic invoicing, missing invoices, incorrect amounts and other such exceptions caused by manual data entry can be reduced considerably. This means a more efficient purchase to pay department.

Better cash flow management – Organisations can benefit from early payment discounts, while it becomes easier for suppliers to monitor payments and improve cash flow.

DCS e-invoicing is just a fraction of the cost of complex EDI systems and will have wider acceptance among your suppliers. To find out more, please contact one or our business consultants on 01753 616 720, or send an enquiry using our Contact Form.

Savills reduces processing costs with an Outsourced Invoice Processing and secure storage solution