Benefits of Implementing Electronic Invoices (e_Invoices or eBills) _ Depending on a company's volume, the savings related to invoice management (receipt, storage, search, signing, returning, payment, shipping, etc.) can fluctuate between 40% and 80%. Some of the reasons for this savings are: Timeliness, both in receiving and sending the information. Savings on paper supplies. Ease of auditing. Increased security and document control. Decreased possibilities for falsification. Easy access to the information. Reduction in the space required for storing archival documents. Quicker and more efficient administrative procedures
All you have to do is enter the appropriate details such as the customer name and address and order details, and you will be prompted by the online invoicing software to enter all the required and optional fields in a step by step manner. Costumer and product information can be stored online so that the data can be retrieved immediately when needed. Simply put, online invoicing is a much easier, less time_consuming way to keep track of your business cash flow and to maximize its earning potential!
After the purchasing company receives full payment for the invoice, you'll receive the remaining value minus a 'factoring' fee. This fee is based on a number of factors, including your customer's credit worthiness, the average terms, and the invoice number and size. However, generally, the invoice factoring fee is up to five percent of the invoice value.