Most large companies have stopped accepting paper invoices because management requires several operations that can be easily automated with modern and cost-effective solutions. Many small businesses still spend lots of time and money managing paper invoices. However, large companies’ transition to e-invoices has also paved the way for small businesses to take the leap to digital handling of invoices.
Being economical with natural resources is a given for most people. Production and consumption of paper leads to the mismanagement of natural resources. Digital processing reduces the carbon footprint of invoices in comparison with paper.
On average, digital invoicing is four times more environmentally friendly than paper billing.
The greatest savings occurs at reduced printing, postage, paper, envelopes and eventually mail delivery. Emissions when archiving digital sales are virtually zero.
On the site network for electronic business, you can easily calculate the environmental impact of electronic billing. Say, for example, that your company receives 1,000 supplier invoices annually. Instead of receiving your invoices by the post, you receive them electronically, which means that you have reduced your carbon footprint by the equivalent of:
- 146 kilometres of driving
- 1 flight to Bangkok
- 250 trees planted (which absorbs the equivalent volume of CO2)
- 1,464 kilowatt hours – A light bulb consumes 175 kWh per year
Why start with electronic invoicing?
A growing number of government agencies are demanding electronic invoices. Electronic invoicing is becoming common practice and the benefits are irrefutable.
Advantages of electronic invoicing
Both the sender and receiver benefit from cost savings as electronic invoicing reduces printing.
For the receiver
- No more scanning paper invoices
- The invoice can be read directly from within your financial management solution
- Important data, such as due date, invoice number, amount, etc. will be entered accurately, unlike scanning and manual entry
- Correct and automated posting suggestions and proposals
For the sender
- You no longer need to print, package and mail invoices
- The invoice takes less time to reach the recipient
- You have increased control as electronic invoices can be tracked and followed
- The data is recorded quickly and accurately in recipients solution
- There is an increased probability that the invoice will be paid on time
The benefits of taking your invoices digital are clear. How are you increasing your company’s efficiency? Start today by digitising your invoice process. Learn more at Visma.net.
