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Advantages For Sellers/Suppliers

Advantages for Goods Suppliers or Service Providers

(Legal entities, individual entrepreneurs and freelancers)

Briefly: Improved customer satisfaction, reduced debt collection administration costs, better money management and cash flow control.

Key benefits for Sellers:

  1. Faster payments

    Electronic invoicing eliminates the delays associated with mailing, routing, sorting, and rekeying paper documents. Customers can easily submit invoices for fast processing and approval as the data is immediately available electronically in their workflow systems. As a result, invoices can be paid on time, receivables can be shortened (by four days or more), and cash flow improved.
  2. Cost reduction

    Shipping costs can be reduced by up to 80% through savings on postage, materials, handling and storage. Additional savings come from fewer reprint requests, fewer help desk calls and the ability to make electronic payments. In addition, the availability of an archive of electronic invoices for payment allows you to save on storing paper copies.
  3. Improved account reconciliation

    Suppliers often have to reconcile the payments they receive from customers with the original invoices they have issued. Customers often combine multiple invoices to make one bank transfer, and vendors usually then need to call the buyer's Accounts Payable department to verify the details of the funds received. With e-invoicing, customers can send an electronic transfer notification along with a payment, providing a detailed record of invoices paid, as well as debits, credits, and adjustments received. It also helps in situations where customers require a hold on an invoice due to shipping issues such as damaged or missing items.
  4. Higher productivity with Accounts Receivable

    With electronic invoice delivery, the supplier knows that their customers have received their invoices and the exact date and time they were received, reducing the need for “confirmation calls”. The increased accuracy associated with e-billing reduces the number of clarifications needed and the number of phone calls to resolve disputes (Better performance with receivables).
  5. Fewer rejected invoices

    Electronic invoicing provides a direct transfer of data between two accounting systems, namely between the Seller/Supplier Accounts Receivable (AR) and Customer/Buyer Accounts Payable (AP) sections. Electronic invoicing relieves the customer of the need for manual data entry, reducing the chance of data entry errors. As a result, invoices are less likely to be rejected and customers can start processing them without delay.
  6. Improved customer satisfaction

    Increasing customer satisfaction Perhaps one of the biggest potential benefits for suppliers is increased customer satisfaction. Fewer billing and payment hassles means customers get the level of service they want. Companies that have adopted e-invoicing are less likely to experience customer churn.

Additional useful info

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