E-Invoicing - 6 benefits to Buyers
We have already looked at the benefits of e-invoicing to suppliers. Here we look at the benefits to buyers of receiving automated invoices and conducting business electronically.
Learn more about the basics of e-invoicing and how it works.
Benefits to Buyers
1. Business Savings/Increased Productivity
Elimination of manual handling of the supplier invoice and less time spent manually inputting invoice data into Accounts Payable (AP) systems, ensures that AP staff can focus their energies elsewhere.
2. Increased accuracy
E-Invoicing eliminates the reliance on error-prone, manual re-keying of data, which also reduces overall business costs for buyers. E-Invoices are automatically processed in the buyers' back office systems.
3. Less interactions with the supplier
Trading electronically reduces the number of supplier disputes. There are less instances of the supplier querying any details, or enquiring as to whether the invoice was received correctly. This ensures the buyer's customer service team has more time to tackle other issues. For those buyers that trade with, and manage, lots of suppliers this is a huge business benefit.
4. Faster payment/More trade discount opportunities
Invoices can be processed and approved much quicker by the buyer, which leads to faster payment. This ensures buyers avoid any penalties for late payments, and suppliers often offer discounts for those who settle invoices early.
5. Improved relationships with suppliers
Suppliers are paid quicker and buyers have less customer service queries, which ensure more collaborative business relationships between both trading partners.
6. Environmental Benefits
E-Invoicing helps the environment by reducing paper usage and encourages businesses to become more environmentally conscious overall.
Celtrino provide instant visibility of all transactions with suppliers, and enable buyers to react quickly to supplier demands and access real-time data for better decision making. Electronic invoices can easily be converted into the buyers' AP Systems.
Celtrino have 30 years’ experience in e-invoicing solutions.
Contact us to learn more about how Celtrino can get you paperless today