The attempt to streamline the circulation of incoming and outgoing documents is the top driver for companies to adopt e-invoicing solutions. The demand for such specialised systems is on the rise, what is reflected in the current business reports. According to the Electronic Invoice Adoption Benchmark as many as 46% of enterprises are considering to launch the software facilitating e-invoicing.
What are the major benefits that encourage businesses to go paperless? The top argument in favour of e-invoicing is reducing the costs of invoice processing by even 31%. Moreover, companies with the e-invoicing software spend 24% less time handling various enquiries from suppliers. Another significant benefit of electronic invoicing is the improvement in on-time payments by 32%.
Significant business potential of EDI solutions contributes to the fact that such systems are quite widespread in various branches, retail in particular. The deployment of EDI system by Infinite at Fackelmann Poland can serve as an example. “EDI system allows Fackelmann Poland to enhance the cycle of documents interchange (invoices, corrective invoices, delivery notes), what contributes to the substantial cost cuts related to the order processing. The whole supply process with our chains was streamlined thanks to quicker transfer of logistics information.” – Krzysztof Ogrodnik, the Chairman of Management Board at Fackelmann Poland, points out.
Aside from large enterprises which depict faster ROI due to a bigger volume of the documents processed on a daily basis, also more and more SMEs open to the vast possibilities offered by EDI solutions.
Source: Electronic Invoice Adoption Benchmark Report 2013, Paystream Advisors
Source: Onboarding Suppliers to an E-Invoicing Solution, Hackett Group