Advantages of Electronic Invoicing
There are millions of invoices exchanged between suppliers and buyers in the supply chain every year. Most small businesses transit these invoices either in paper formats which end up causing inadequacies for the buyer’s Accounts Payable (AP) organization. This leads to an increase of the Days Sales Outstanding (DSO) for the involved supplier which results from mail floats. In other words, the days that an invoice takes to get to the buyer’s AP team from the supplier are increased.
If suppliers can embrace the idea of using electronic invoicing in their operations they can realize considerable cost savings. Currently, there are quite a number of companies that offer such business processing solutions that can benefit your organization impeccably. Furthermore, when suppliers use the electronic systems to submit invoices or even pay their taxes, they can easily avoid errors with the buyer’s AP team and get paid faster. Buyers will also …
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