As humans, we are constantly searching for ways to improve the processes that we frequently encounter during the course of our daily struggle called life. From the invention of the wheel to the invention of the internet a few decades ago, we humans have always been characterized by a penchant for innovation and an unending thirst for knowledge.
We’ve come a long way from bartering. We’ve been able to create currencies and now, we’ve even been able to create cryptocurrencies. Gone are the days when manually-written invoices and receipts were the norm — even the process of manually punching in item prices on a cash counter seems primitive.
Now, all we really have to do is to present the item’s barcode to a scanner and we automatically have an invoice. This process is made possible by an E-invoicing system.
E-invoicing, or electronic invoicing is defined as:
“the delivery of bills and related information by an enterprise to its clients using electronic communications, usually the Internet. E-invoicing is also called e-billing, ePayables, and telecommunications billing.”
The use of this technology is not simply limited to physical store outlets. E-invoicing systems are almost always integrated into eCommerce websites such as Amazon, Alibaba, eBay, and others. The purpose of this technology is to provide both buyers and sellers with a seamless experience that also allows for added efficiency and productivity.
It also establishes a sense of trust between buyers and sellers in the sense that sellers are charging the proper price of the item and that they are charging the same amount for all buyers (except buyers who are able to qualify for certain promos).
Not only that, but from a more technical viewpoint, the risk of error is reduced to nil because the system does everything including invoicing, computation, and inventory.
An automated invoicing system allows businesses to process transactions in the smallest amount of time possible. It also allows businesses to process transactions simultaneously (at least in the case of eCommerce websites) because there is no waiting line, nor is there a scanner that your item has to go through first.
Through a business owner’s perspective, an e-invoicing system also allows you to handle operational expenses without having to compute recursively. You know that you get a fair bill because your bill is processed by the system. No human error could taint the bill that you receive.
An e-invoicing system also paves the way for a quick and easy transaction. After the buyer receives an invoice, it’s just a matter of authorizing payment. The invoicing system also determines which account the payment goes to.
This innovation has definitely become the norm for businesses all over the world. This article gives a clear view of how this trend has skyrocketed over the years.
Now, if you’re one of the few businesses that still uses antiquated technology, you should seriously consider getting a proper e-Invoicing system installed. If the benefits that were previously stated haven’t convinced you enough, they will definitely convince many of your competitors. Keep up with the times and update your technology today!