- E-invoicing is becoming more common in companies and is a legal requirement in many countries.
- The benefits of electronic invoicing include reducing processing costs, increasing efficiency for accounting teams, faster processing and payments, increased accuracy and real-time visibility, reducing the risk of lost invoices, better cash flow and working capital management, increased security and reduced risk of fraud, and regulatory compliance.
- Electronic invoicing eliminates paper processes and manual invoice processing, allowing accounting teams to focus on more strategic tasks.
- Electronic invoicing also provides finance departments with an accurate, exhaustive, and real-time view of invoices issued and expenses incurred.
- Regulations for e-invoicing vary widely from country to country and are constantly changing, but automated e-invoice sending and receiving systems can help companies achieve compliance.
Source Basware
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