Six advantages of e-invoicing
In your private life and at work,: digitisation is omnipresent. As a company, it is also essential to take the digital train. Most of your customers have already switched to e-invoicing. In this article we look at what it means and what the benefits are.
What is e-invoicing?
Sending and receiving invoices electronically. That simple? So just in Word or PDF? That's already a first, important step. Platforms like Teamleader, Billit... help you create and manage your invoices quickly.
If you go one step further, you can convert those invoices into a special standardized XML file. This digital standard -Universal Business Language (UBL)- ensures that different accounting requirements communicate easily with each other. For example, it is no longer even necessary to send an e-mail or to put attachments in the right folder.
What are the advantages of e-invoicing?
- You save time
An end to the administrative hassle of drawing up, sending and paying invoices. Thanks to e-invoicing, sending and processing invoices is a lot easier. They go straight into accounting and the many invoicing phases are automated.
- It’s more reliable
Automation reduces the loss of invoices on the road and reduces the risk of human error. Do you have to draw up a credit note? Has a customer not paid the VAT? Your platform reminds you of this and puts it right with a proverbial push of a button.
Proverbial, because your accounting software never guarantees 100% error-free processing of your invoices. However, the number of errors will decrease considerably.
It’s as safe as on paper
As a result of the transposition of the European VAT Directive, paper and electronic invoices have been equivalent since 1 January 2013. If they are legally valid, of course.
And that means:
- The identity of the supplier is guaranteed.
- The content of the invoice has not been changed.
- And the details of the invoice must be clearly legible.
It’s more sustainable
Individuals and businesses: we are all faced with the task of looking for more sustainable ways of living and working. With e-invoicing you can significantly reduce the production and use of paper and also reduce the need for physical transportation.
It's more profitable
With e-invoicing you reduce your costs considerably. For example, a study by the University of Hasselt shows that the average cost of a paper invoice is around 12.08 euros. With e-invoicing you can easily save up to 9 euros per invoice, or as much as 75% of the costs.
It's a lot more convenient
Because you simply don't have any more paper to archive. Instead, you get an orderly digital archive where you can easily find everything.