In today’s digital age, electronic invoicing (e-invoicing) has become essential to modern business. It is a faster, more cost-effective, and more efficient way to manage your billing processes, which is why many businesses are now turning to e-invoicing software to streamline their invoicing processes.
However, choosing the right e-invoicing software for your business can take time and effort with so many options available. To help you make the right decision, we have compiled a list of key factors to consider when choosing e-invoicing software for your business.
What is E-invoicing?
E-invoicing (electronic invoicing) is an automated process that allows companies to create, send and receive invoices electronically using a dedicated software. This removes the need for printing and mailing traditional paper invoices, streamlining the whole payment process.
Consider Your Business Needs
Before you start evaluating e-invoicing software, consider your business needs. What features do you require? What are your invoicing volumes? What type of business are you running? Answering these questions will help you narrow your options and find software that fits your needs.
Look for Software that Integrates with Your Existing Systems
The best e-invoicing software integrates seamlessly with your existing systems, such as your ERP system. This integration will ensure that your invoicing process is streamlined and efficient and reduce the likelihood of errors.
Evaluate the Software’s Ease of Use
It is essential to choose software that is easy to use and intuitive. The software should have a user-friendly interface, and the process of creating and sending invoices should be straightforward. Look for software that offers features such as automatic invoicing, online payment options, and customizable templates.
Check for Security Features
When dealing with financial information, security is of utmost importance. Ensure the e-invoicing software you choose offers robust security features, such as encryption, firewalls, and secure accesses. Ensuring that the software offers confidence, security and accuracy guaranteeing that every invoice is traceable and rapidly delivered.
How Esker can help to make your move to e-invoicing a triumphant one
With many governments and large corporations requiring e-invoicing, companies must adapt if they want to get paid. Esker helps you achieve global compliance in whatever technology you choose:
E-Signatures
Through its Sovos partnership, Esker applies the appropriate e-signatures, time stamps and verifications in over 60 countries.
BCAT
From receipt and posting to dispatch and e-archiving, Esker’s audit trail and reporting capabilities keep track of all customer orders.
EDI
Esker provides data formatting in the appropriate format (XML, EDIFACT, ANSI, etc.), secured exchange via any communication transport (AS2, VPN, SFTP, etc.), and interoperability with any platform.
Archiving
Fully compliant with the EU Directive and the Sarbanes-Oxley Act, Esker’s e-archiving solution protects all invoices via a separate, secured infrastructure and web portal. Esker helps you navigate the complex universe of e-invoicing and make sense of local government regulations.
Accounts payable automation
Esker’s Accounts Payable solution enables companies to eliminate manual tasks associated with invoice processing. Thanks to data capture features, automated processing and an AI-based electronic workflow, your cash management is simplified and more efficient.
All your invoices are processed regardless of format or reception channel (e.g., mail, email, EDI, etc.). You also benefit from customizable KPIs and on-the-go review and approval functionalities
Accounts receivable automation
Esker’s Accounts Receivable solution automates the delivery of customer invoices via any media (e.g, paper, e-invoices, EDI, portal, Chorus Pro platform, etc.), in compliance with existing regulations. Manage invoices electronically with real-time visibility into invoice delivery status thanks to Esker’s single and user-friendly interface.
Your customers can view, pay or dispute an invoice, as well as communicate directly with your teams via an integrated messaging tool on Esker’s portal, accessible 24/7. Esker makes your life easier, simplifies exchanges and saves you precious time.
Choosing the right e-invoicing software for your business can initially seem daunting. However, by considering your business needs, evaluating the software’s ease of use, checking for security features, considering the cost, and reading customer reviews, you can make an informed decision and choose a software that meets your specific needs. With the right e-invoicing software, you can streamline your invoicing process, save time and money, and focus on growing your business.
With Esker’s advanced technology, we can provide your company with everything you need to make your move to e-invoicing a triumphant one. As a certified solution provider of InvoiceNow in Singapore, also known as Peppol, Esker sends and receives Peppol invoices seamlessly through our Accounts Payable and Accounts Receivable solutions. Contact us today to learn more.