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The advantages of Electronic Invoicing

Written by Richard Smits on . Posted in Exact Globe, Exact Online

Since a few weeks we are sending all invoices to our Exact Online customers digitally. The monthly invoices are sent from our own Exact Globe environment to the digital mailboxes in Exact Online. With some simple mouse clicks our customers can first check the invoice and then create the entry into Exact Online with the invoice linked as an attachment. Why is this so exciting? Well, at Exact we are investigating the possibilities of Electronic Invoicing not only for ourselves, but also for our customers. This is the first step in the process and it will be the start for more functionality in both Exact Online and Exact Globe for supporting electronic invoices.

Electronic Invoicing received a lot of attention in the media lately. Governments worldwide are heavily promoting electronic invoices and the Dutch government even ‘killed’ all the strict rules that made sending invoices via email not viable for a lot of companies. Since February 2009 sending an invoice via email has the same legal status as a paper invoice.  Sending and receiving invoices digitally can save a company a lot of costs (labor hours, post stamps, envelopes, paper, etc) and furthermore it is environmental friendly. According to the European Commission, businesses across Europe can save up to 18 billion Euro by using a solution for Electronic Invoicing.

The disadvantage of only receiving an invoice via email (e.g. a PDF-file as attachment) is the fact that a user needs to download (and sometimes print) the invoice and enter the data in the bookkeeping system manually. A better solution is sending invoices completely electronically with the ability to import it directly in a financial administration, just like we are currently doing with Exact Online. Sending invoices electronically means that you send all the related invoice data together with the message, and that the sales invoice can be booked into the bookkeeping system as a purchase invoice by some simple mouse clicks (or even fully automated). This is the goal we are aiming for.

I am a member of the project group Electronic Invoicing within Exact and will update you frequently on this subject. If you want to share your thoughts, questions, remarks or advice about Electronic Invoicing with me, please leave a comment below.

 

Photo credit: miquelb

 

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Comments (3)

  • Bruno Koch

    |

    Hi Richard,

    congratulation for the good text! As international market analyst, issuer of reports and founder of the largest international event for e-Invoicing, I steadily monitor the market news.
    My special focus is currently the analysis of the market communication of different stakeholders, including providers. I will present the results of that analysis on September 23 in Amsterdam at the e-Invoicing Operators forum ( http://www.expp-summit.com/agenda_opforum.htm).

    Any Exact presentations about your e-Invoicing solution in english are welcome.

    Best regards,
    Bruno Koch

    Reply

  • Richard Smits

    |

    Hi Bruno,

    Appreciate your feedback!
    Please send me an email so we can further discuss about what kind of presentation you would like: Richard.Smits@exactsoftware.com

    Kind regards,

    Richard

    Reply

  • Dave

    |

    Hello Richard,

    On this moment we are implementing Globe at our company in Finland and they are using the standard called Finvoice (Financial Invoice). In my opinion Exact should follow these kind of standards even like different EDI standards.

    Reply

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