9 Reassuring Benefits of e-invoicing in Accounting Software
9 Reassuring Benefits of e-invoicing in Accounting Software

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Date: 11 May 2021


9 Reassuring Benefits of e-invoicing in Accounting Software to boost your business

In recent years, the term Electronic Invoicing has become quite popular in the business sector. An E-invoicing software is essentially a dynamic tool that can boost business efficiency and stability. In simple words, E-invoicing is the transfer of invoice documents between sellers and buyers in an integrated electronic format.

 

It’s no surprise that this technology has taken over business sectors like a storm, helping companies exchange invoice data easily. E-invoicing has proved to mark its substantial presence in B2B transactions, which has been so for several years.

 

Unlike traditional invoicing methods, which involve heavy paperwork and a greater risk of human errors, E-invoicing through accounting software is practical and accurate. E-invoice software provides the added benefit of being highly cost-efficient, especially in the long run, as it’s wholly computerized and thus always precise.

 

E-invoicing data sent from a seller automatically gets integrated into the buyer’s Account Payable system (AP), thus simplifying the entire financial accounting process.

 

Using accurate e-invoice software differs from other forms of invoicing. It provides:

  • Structured invoice data issued in Electronic Data Interchange (EDI).
  • XML formats.
  • Standard internet-based web formats.

 

Apart from saving time and effort, accounting software is well appreciated for its features that boost integrative collaborations between buyers and sellers, aiding them to be in sync.

 

Here are 9 benefits of e-Invoicing in Accounting Software

1. Reduce Costs.
2. Reduce Mistakes.
3. Get Paid Faster.
4. Saves Time.
5. Easy to keep Track of Invoices.
6. Increased Data Integrity.
7. Eco-friendly.
8. Offer better customer experience
9. Easy Customizable


Saves Time Accounting software systems help cut down several unnecessary steps involved in accounting, thereby helping to save time.

 

Reduce costs – E-invoice software eradicates the need for paper and postal fees. Moreover, reduced time increases efficiency and boosts income. According to research, receiving an e-invoice instead of a paper invoice saves up to 90% on processing costs.

 

Reduce mistakes – This can be considered as one of the most significant benefits of accounting software. Because e-invoicing is entirely computerized and considerably automated, the risk of making errors and facing losses can be decreased to a great extent.

 

Offer better customer service – Being automated, accounting software is more customer-oriented and aids in delivering better customer satisfaction. Reduced time consumption can again add to maintaining overall performance.  

 

Get paid faster – E-invoice software also makes receiving payments easier. With easy-to-use features, clients will be able to transfer money more quickly to sellers.

 

Eco Friendly – With the complete elimination of paper and plastic, e-invoicing can also serve as an eco-friendly alternative to traditional accounting methods.

 

Easier to keep track of invoices – Papers and files may get misplaced or lost. But, with a complete electronic system like e-invoice software, your invoices can be kept safe. You can also keep track of your invoices’ status. Moreover, with accounting software, you can also find out if the customer has viewed the invoice.

 

Easy to customize – Accounting software also gives you the versatility to customize your invoices according to your needs. This helps to craft and use professional-looking invoice templates.

 

Increased data integrity – E-invoices almost completely eliminate risks of fraudulent bills, thus making your processes more reliable in the long run, both for the buyer and the seller.

 

How can BUSY Software help you?

BUSY Software is an all-in-one accounting software that provides solutions for all accounting processes. It’s made to make your accounting tasks more manageable. The BUSY Software can perform tasks that help in financial accounting, comprehensive VAT/ GST Module, advanced inventory management, complete operations management, fully configurable invoicing, and a mobile app.
 

Are you looking for an apt technological revolution in the accounting section of your company? Well, if you’re do not hesitate to contact us! BUSY is always at work helping its client!