![]() Once everything is set up, the convenient customisation options will help you to save hours of admin time every month, no matter what your invoicing needs are. If you use an order management system (OMS) to handle your eCommerce or fulfilment business, incorporating e-invoicing and integrating your accountancy system will further streamline your billing process. Switching to e-invoicing enables you to keep detailed records for tax and budgeting purposes, so you can accurately monitor your cash flow to inform future business decisions.Įcommerce businesses rely on invoicing for everything from charging customers for products to paying suppliers and working out costs for storage and haulage. Without the correct reports, records and metrics, it’s extremely difficult to achieve a holistic view of your supply chain and determine where to cut spending, and where to scale up. Achieve a comprehensive view of the supply chainĪccording to a study by The Economist Intelligence Unit, more than 60% of CFOs lack complete visibility into transactions within their organisations. Being able to send prompt, error-free invoices not only helps to keep customers and suppliers happy, but also speeds up the overall billing process, resulting in faster payments for your business.Ģ. The process of e-invoicing offers more accuracy and improves efficiency by removing the risk of duplicated data entry by human error. Mistakes can be costly and may affect your relationships with both customers and suppliers. If you find that you’re spending a lot of time on invoicing, or are prone to making errors because you’re having to rush, adopting e-invoicing could give you the following benefits: As well as creating and printing courier labels, you need to calculate the size, weight and most cost-effective shipping method of each order, and doing 3PL accounting manually becomes unsustainable as your business starts to grow.Īs you win new customers either as an online retailer or third-party logistics (3PL) provider, you may experience greater challenges in how you invoice for your products and services. One of the most time-consuming aspects of manual invoicing for 3PLs and warehouses is billing for picking and shipping costs. On top of this, the cost of paper, ink, envelopes and postage required to send an invoice must be factored into your budget. ![]() This means finding a safe place for them, filing and organising the documents, and spending time manually hunting through them in the event of a query. Invoices must be retained for tax purposes and to maintain your business records, but paper invoices take up a large amount of space. Traditional invoicing can be time consuming and cumbersome, as well as incurring additional costs that can be eradicated by switching to e-invoicing. What are the challenges of traditional invoicing?
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