Zoho Invoice for sending paper invoices by snail mail.
Want to learn more about what electronic invoices can do for your business? Download or stream the 14-minute Q&A Podcast. Hero image of best invoicing software with various app logos. Simply put, Smart e-Invoices help you get you paid faster, easier, and at less cost.
Dynamic, Smart e-Invoices eliminate mail times and manual exception handling, for a significant reduction to your days sales outstanding (DSO). Not only are paper invoices expensive, insecure, and inaccurate, but they’re also slow.
While exceptions can never be 100% eliminated, Smart e-Invoices make it possible to amend and update invoices in real-time, eliminating manual invoice exception handling so that you and your customer agree on the invoice before it is paid, and all without ever having to pick up the phone or send an email.ĩ2% of electronic invoices are approved and paid on-time compared to just 45% of paper invoices. Offering your customers more ways to pay results in greater customer satisfaction, strengthened relationships, and faster payments to you.įour out of ten businesses state that high percentages of invoice exceptions are a top challenge for their A/R team. It is 30 times more expensive for your customers to pay you with paper checks than electronic payments. Did you know there are ten times as many incidents of fraud in paper check payments than electronic payments? According to the AFP, paper checks are still reported to have the highest amount of fraud activity, while ACH credits are reported to have the lowest.Ĭustomers enjoy the convenience of electronic billing, especially when they have the option of online payment. When you mail a paper invoice, your customer typically mails you a paper check payment.
Not only can e-Invoices reduce data entry errors, shorten processing times, and use up far less paper, they can also be combined with automation and e-Invoicing software to further improve efficiency. It is a powerful and comprehensive product that streamlines and automates all your AP/AR invoicing processes to enable a secure and highly efficient document exchange with all of your business partners. Paper invoices aren’t just more expensive, they are far less secure. e-Invoicing is much more reliable, scalable and sustainable. Comarch e-Invoicing enables a paperless exchange of invoice documents through multichannel services such as e-mail, EDI, or web applications. You can get paid instantly, exceptions can be resolved in a matter of minutes instead of days, and your employees are free to concentrate on other important areas of the business. Not only do Smart e-Invoices save you money, but they save time as well. Electronic invoices cost just a fraction of that. The average cost to process a paper invoice is upwards of $12 according to NACHA (National Automated Clearing House Association).
What are the benefits of electronic invoices and why should you consider making the change? Here are the top five reasons many businesses have switched to dynamic Smart e-Invoicing. But do you really know how much paper invoices and checks cost your firm? According to the Association for Financial Professionals (AFP), 82% of businesses are migrating from paper-based workflows to digital A/R processes. Wholesaler-distributors operate on razor-thin margins so reducing costs and accelerating cash flow are always top of mind. ApTop Five Reasons Businesses Switch to Electronic Invoicing Paper.