Almost 1 billion invoices are sent and received in Belgium every year. A lot of red tape! Fortunately, more and more companies are turning to electronic invoicing. This is a gift from heaven, certainly for those who have to process a large pile of incoming and outgoing invoices on a regular basis. We delve together with you into the most important advantages of e-invoicing.
What is electronic invoicing?
Electronic invoicing, or e-invoicing for short, means that you handle your invoice entirely digitally, i.e. that it is sent electronically and is processed digitally by the recipient. Bear in mind that an electronic invoice must meet certain conditions:
- All (payment) data required by law must be mentioned on it
- It must be traceable for the tax authorities
- It must be drawn up in EDI or XML format or issued by means of a standard web form
“Processing an invoice fully automatically is up to 70% cheaper.” *
The advantages of electronic invoicing
1. Invoicing at the speed of light
E-invoicing is carried out at the push of a button, i.e. in a matter of seconds instead of days. This also means that digital invoices can be processed and paid faster and cheaper. An extra advantage: it leaves more time free for your employees for other work, thereby boosting your competitive advantage.
2. Secure and correct
Since e-invoicing automates your invoicing, you minimize the risk of human errors. You moreover reduce the chance of fraud and every payment is matched with an open invoice by the system.
3. Sustainability factor
Companies often keep several copies of the same invoice, and the paper mountain grows even bigger as a result. By digitizing the entire invoicing process, organizations reduce their ecological footprint. More specifically, they use less paper and eliminate the CO² emission that is required to deliver those paper invoices.
4. Up-to-date view of your turnover
In addition, there are no processing costs any more. Your accounting software package creates the invoices and sends them automatically to your client through the agreed channel: e-mail, PEPPOL, Doccle, Zoomit… Received invoices are likewise processed at a glance. The accounting package uploads them automatically and processes them fully. Combine this with a service such as CodaBox, which enables you to automate all CODA files, purchasing and sale invoices, and you will maximize the advantage for your organization in no time.
Do you want to control this process nonetheless? Then you can ask your accounting software package to make an entry proposal that you can then accept or change as you wish.
How Isabel 6 helps you invoice (and pay) electronically
This automatic processing also forms the link with Isabel 6 immediately. That is no invoicing tool, but a payment platform. The major advantage is that this platform can be integrated directly and fully with your accounting software. For every invoice to be paid in your accounts, you get a payment file which you upload in Isabel 6. So you need no longer carry out manual payments and Isabel 6 helps you to process your payments digitally.
* Source: KPMG report “Calculation of savings on administrative costs thanks to the use of electronic invoicing”