Invoice Transmission

Modern-day invoices are transmitted electronically, rather than being paper-based. If an invoice is lost, the buyer may request a copy from the seller. The use of an invoice represents the presence of credit, as the seller has sent a product or provided a service without receiving cash up front.

Electronic invoicing is ultimately not an end in itself, but a means of achieving a goal. The sending party is assured that the invoice will reach the right person faster, at lower costs. The ultimate goal of a recipient is to book a purchase invoice with as few human actions as possible. The medium an invoice uses to travel between organizations and the way that it is processed is of no concern if it happens quickly and without error.

The benefits of an e-invoice are negligible or non-existent for the recipient without a smart system that automates invoice processing. That is when the real benefits of e-invoicing become apparent.

E-invoicing benefits both suppliers and buyers. It helps:

  • Reduce costs
  • Facilitate automation
  • Shorten payment cycles
  • Improve account reconciliation
  • Enhance compliance
  • Prevent errors, losses and frauds
  • Improve supplier/customer relationship
  • Reduce the carbon footprint