How Getting Your Vendors on Your E-Invoicing System Really Works

How Getting Your Vendors on Your E-Invoicing System Really Works

January 9, 2014  |  Adoption, Electronic Invoicing

Uncle Sam Wants You 150x150 How Getting Your Vendors on Your E Invoicing System Really WorksWhen you’re constantly receiving invoices from the vendors you work with, it can be a nightmare. Everyone’s got different payment terms and accepts different forms of payment, and you have to keep track of who to pay when and how. Needless to say, it’s a lot to juggle.

It doesn’t have to be, though. Electronic invoices can cut down on your admin work, save you time, and get your vendors paid when they want to be paid. Everyone’s happy!

Using E-Invoices Eliminates the Headache

With e-invoices, everyone uses the same system, so you have fewer due dates and payment methods to remember. Just log into your account and see whose invoices are outstanding, then make payment arrangements.

Don’t have the money in your account right now? Try the Pay Me Later feature. Essentially you pay your invoice on time, but pay the bank 30 days later. It’s like a mini loan.

Understand Where Your Money Goes

At InvoiceSharing, we know that sometimes just paying invoices doesn’t help you see the big picture. So we’ve added Business Intelligence on invoices. Now you can track where you’re spending money and how much you’re spending so you can develop a better strategy for the long term.

For example, if you see that you’re placing frequent orders each month with one of your suppliers, you might be able to negotiate a better rate for larger orders. Now that you’ve got that data in front of you, you see who you’re spending money with, and can make decisions about where you put your dollars.

Streamline Your Accounting

The great thing about e-invoicing is that it allows you to convert your invoices into your general ledger records. This increases the speed of processing your invoices dramatically, and aligns them with your Accounts Payable.

If your vendor offers a discount for paying invoices early, you can save money by being proactive about sending a payment on an invoice. You can also send validated invoices, which help you prevent VAT-fraud and keep you compliant with local regulations.

How it Works

Imagine how much easier your accounts payable would be if everyone were on the same system! Once you sign up for InvoiceSharing, you can invite your vendors to use the service as well. Once everyone’s using e-invoicing, it becomes easier to manage your process.

Eliminate the pile of invoices on your desk. Pay your vendors faster and keep them happy.

Switching to electronic invoices can help you process your accounts payable faster and cut down on the time you spend managing invoices.

Drs Jeroen Volk RA


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1 Comment

  1. I’m all for electronic invoicing, but “Imagine how much easier your accounts payable would be if everyone were on the same system!” is just wishful thinking. It’s like saying “Imagine you were younger”. Nice idea. Never going to happen.

    Benjamin Button

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