4/29/2023 0 Comments Paper invoicing![]() Image Credit: Pixabay (Image credit: Image Credit: Pixabay)Įlectronic invoices can be sent, received, paid, and settled several times faster than paper and digital invoice methods the speed at which these processes occur can drastically reduce the amount of time it takes for your invoice information to be put into your accounting system. “ And Currency’s electronic invoicing features allowed Vantage to accomplish this, “ Instead of calling each of my customers and collecting card information, I am now able to send an invoice that can be paid and processed by my customer directly through their email.”Īccording to Halverson, electronic invoicing optimized his invoicing processes because it removed steps and leveraged everyday communication methods (email) to make the invoicing process more user-friendly. “The goal has always been to make financing and the movement of money easy for businesses and consumers,” said Halverson. When Vantage Finance CEO Kevin Halverson started using electronic invoicing within his company, he saw that his invoicing process had become more efficient. E-invoices can be automated to send out recurring bills, can be paid by your customer with just a click of their mouse, and typically, E-invoices stream directly into your accounting books, cutting out the time consuming and (sometimes) pricey data entry process. A digital invoice still requires data entry from a staff member-a time-consuming feat that an employee must be paid for (time is money!).įor instance, in 2013, the United States treasury estimated that if e-invoicing was implemented across federal government offices, that it could reduce costs by 50% and save $450 million annually-and it is likely that those statistics have grown since the report was released (2013).Įlectronic invoice users typically find that E-invoicing makes their businesses-and customers-lives more efficient and easier. In regards to a digital invoice, an electronic invoice saves you money in the grand scheme of things because it will take less time for your data to be entered into accounting books. ![]() By using a digital invoice, you will no longer need to pay for the paper that your invoices are printed on, or the postage required for you to send out your invoices to your customers. Using an E-Invoice saves you a significant amount of money compared to paper and digital invoices. When you compare electronic invoicing to traditional paper or digital invoicing-which is really just paper invoicing on a computer-you find that E-invoicing beats out traditional invoicing methods in several performance areas: These links allow for invoices to be paid in just one click. For instance, CurrencyPay offers an electronic invoice portal where users send invoices via emails that include embedded payment links. CSV file, however, e-invoices can come in many different file formats or web-based forms. Typically, an electronic invoice is sent in the form of a.
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