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ELECTRONIC INVOICING SOFTWARE: DO I NEED IT?

05/03/2015

We all like the way digital improvements make our work more efficient and easier, but when it comes to implementing them and facing the time and money investment they require, we end up asking ourselves: do I really need this? This is the case with electronic invoicing software.

Having all your company’s invoices organized and filed in digital format, ready to be immediately sent at no cost, sounds tempting enough to give it a try. This is why some companies develop their own internal e-Invoicing process, while others decide to go for more powerful tools by relying on a third party company that can implement and support e-invoicing processes.

But, why are these invoicing software products necessary? Wouldn’t it be easier to simply scan invoices or create them as a PDF file? The answer, as you can expect, is no. Electronic invoices are much more than a digital version of a paper invoice, and, as long as you want them to have compliant validity, they must be created respecting a pre-established format. This way, they can also automatically flow from the distributor to the Accounts Payable system and they can be used by governments to exert fiscal control over business transactions.

Electronic invoicing software products, like Edicom’s e-Invoicing software solutions, are ready to fulfil these tasks, always adapting themselves to the company’s needs. This software will take a regular digital document and perform the data mapping to generate an invoice for publication. It will automatically apply fully compliant digital signatures, which will guarantee authenticity and integrity, before sending them. And even if the receiver doesn’t utilize the same software, he will still be able to see the document through a private online registry.

A software prepared for international e-Invoicing

This process may already sound slightly complicated, so just imagine what it will be like if your company trades with different countries, each with different e-Invoicing regulations and different electronic invoicing requirements. In some countries, like Mexico or Brazil, electronic invoicing is mandatory, a trend that is expanding across the Latin America region as a way of controlling tax evasion.

For some companies, electronic invoicing may just be a matter of saving space, time, and money. But for others, especially those with an international projection, it will be a crucial requirement for their businesses.

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