VATupdate

10 benefits to your business from electronic invoicing

Electronic invoicing provides great benefits both to the issuer and to the recipient. Although it may seem that recipients benefit more, the adoption of e-invoicing represents a great advance in the management of invoices from both sides. The investment in e-invoicing systems is very profitable and can be the first step to complete digitalization of a business, a fundamental move to guarantee its competitiveness.

Before discussing its benefits, a quick overview of what exactly is an electronic invoice. The e-invoice is equivalent to a paper invoice, having the same legal value. To be considered “electronic”, an invoice must:

  • Be constructed in a standard electronic format: EDIFACT, FACTURAE, XML, X12, etc.
  • Be transmitted electronically: it must be sent from and received by computers.
  • Comply with standards of integrity and authenticity. For this reason, e-invoices are subject to different electronic signature procedures.

 

Source: Edicom

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