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Advantages for Buyers/Payers

Benefits for Buyers/Payers

(Legal entities and individual entrepreneurs)

Buyers typically benefit more from e-invoicing than vendors.

This is due to the fact that the buyer gets economies of scale when processing large volumes of invoices for payment electronically.

Key benefits for buyers:

  1. Cost reduction

    With the elimination of sorting, filing and manual data entry of paper invoices, the electronic invoicing process can generate savings of 60-80% with a payback period of six to eighteen months.
  2. Improved accuracy

    Electronic invoice collection enables critical business data to be processed directly in accounts payable systems without relying on error-prone manual data re-entry.
  3. Increasing the productivity of work with accounts payable

    As a result of improved invoice accuracy, the amount of rework required due to errors in invoices is reduced. In addition, there are fewer phone calls from vendors to customer accounts payable centers.
  4. Faster processing and billing cycles

    Electronic invoicing can fully automate the process of collecting, sending, and approving invoices. This allows invoices to be processed much faster, which ensures timely payment, avoids late fees and enables contractual discounts.
  5. Focus on higher value activities and more important matters

    Staff are freed from repetitive data entry tasks to focus on strategic activities such as auditing and checking invoices or exploring opportunities for early payment discounts.
  6. More trade discount opportunities

    More opportunities for shopping discounts. Electronic invoicing allows you to process and approve invoices faster. As a result, the buyer can take full advantage of the discounts if paid on time.
  7. Improved invoice for payment reconciliation

    As a payer, it may be convenient for you to combine several invoices for payment in order to make one (single) bank transfer. It is then advisable that you call the seller to clarify the details of the funds sent. With e-billing, you can send an e-transfer notification along with the payment, providing a detailed record of paid invoices. It also helps in situations where you would like to claim a hold on your invoice due to shipping issues such as damaged or missing items.
  8. Improving Handling and Dispute Prevention

    Disputes over invoices can cost anywhere from €10 to significantly more, leading to inefficiencies in the financial supply chain. The faster, more accurate payments enabled by e-invoicing significantly reduce calls from vendors asking about payment status or disputing payment amounts.
  9. Improve relationships with suppliers

    An efficient payment process will be the cornerstone of a good strategic relationship between a buyer and its suppliers. This, in turn, helps ensure a closer collaborative relationship, which ultimately results in better customer service, a stable supply chain, and improved shelf availability.

Additional useful info

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