It is clear from the results of the Credit Management Benchmark and from a review of various LinkedIn groups, that there is often conflict between sales and credit teams. Sales must have a laser-like focus on achieving their sales targets, and a task like credit screening is seen as a distraction. Even worse, declining to open a credit account for a customer can be seen by sales as the credit function creating barriers to their work.
Many businesses have updated and improved their invoicing process by sending invoices electronically.
However, the majority of invoice recipients still process them as if they had been delivered through the postal service. So we asked ourselves, “how many people print invoices?” Well in recent research, we discovered that over 90% of businesses that receive invoices electronically print them and process them manually.
Once printed, invoices are typically approved manually, input on accounts payable software and then filed for storage, or scanned. So why with the technology that is available are businesses still printing invoices they receive in PDF format?
It is safe to say that there are many myths regarding e-Invoicing solutions. Many companies believe they are using e-Invoicing when, in fact, they are simply just sending PDF invoices by email. Effectively, this simply automates the postal service and is not e-Invoicing.
In this article, we dispel 5 commonly held myths about e-Invoicing solutions.