Factors that are encouraging businesses to adopt e-invoicing

1
THE DRIVING FACTORS BEHIND ADOPTING
ELECTRONIC INVOICE
An electronic invoice system makes it possible
for businesses to get a real time view of their
finances. This makes it possible for them to make
better financial decisions and be more agile in
their response to unexpected market fluctuations.
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2
CHALLENGES OF PAPER INVOICES
Paper invoices pose many challenges for
businesses. They require manual labor for
processing. This increases the need for staff.
They are prone to error. Paper invoices have to
be physically delivered which leads to additional
costs for delivery.
3
INVOICE SCANNING
An electronic invoice system means that the need
for manual data entry is eliminated. Invoices can
be scanned and information like supplier id,
quantity, product name, price, etc, can be
automatically captured. This eliminates the
possibility of errors.
4
GOING GREEN
E-Invoicing reduces reliance on paper and reduces
the need to cut down trees to make paper.
Increasing sustainability is one of the key
directives for the European Union and hence it
has been promoting electronic invoices.
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