E-invoicing
Be ready for compliance, be digital and streamline your business operations with e-invoicing solutions.
Organizations see significant improvements in processing invoices efficiently, compliant, on time, and with few exceptions when using e-invoicing. Receiving or sending invoices digitally greatly enhances this capability.
Electronic invoicing is a crucial part of modern business practices. It is essential for organizations to be compliant in fast changing invoice regulation world. Besides that e-invoicing improves internal efficiency and competitiveness in the market for your business.
First, what is electronic invoicing?
Electronic invoicing, or e-invoicing, is a method of digitally exchanging invoices between a supplier and a buyer and/or government. It involves electronically transmitting invoice data in structured formats, such as XML or EDI, directly from one system to another or through a government portal, Peppol or any other network. This method streamlines the invoicing process, reduces manual errors, and accelerates payment cycles, enhancing efficiency and cost savings.
Are you still sending or receiving invoices in an envelope or as a PDF file by email? With Dynatos’ e-Invoicing software, you can send and receive invoices in any preferred format or to any channel.
Enhance efficiency and compliance with e-invoicing
E-invoicing integration
More and more companies have several P2P, ERP, or finance systems within their organization. Integration is critical when realizing a mature solution that is ready for the future.
Flexibility and convenience are the drivers for Dynatos to integrate with your back-office system. With Dynatos, you can incorporate out-of-the-box in several ways:
- Through API or web services
- Via data input & Conversion
- Direct integrations by us or our partners like SAP, Oracle, Coupa, Microsoft and more
- By the use of RPA
Any format
Direct all incoming and outgoing invoices into a single flow. E-invoicing software handles financial documents sent or received as email attachments, as XML, EDI, PDF or through e-invoicing platforms like PEPPOL, NemHandel, or any other.
The solution automatically extracts and validates relevant document data. It swiftly transfers this data to workflow or finance systems, ensuring seamless, compliant and efficient financial operations.
Legal Requirements
Due to country-specific legislation, we see an increasing demand for e-invoicing. For example, the recent e-invoicing mandate released in Romania. It is not unlikely that e-invoicing legislation will also change shortly in your country. Besides that, storing e-invoicing documents also requires legal archive solutions.
A digital archive allows you to manage and archive incoming and outgoing documents with their data in a structured environment. This archive applies to the legislation for the legal archiving of invoices.
Documents (PDF, XML, or EDI) will be in the archive, along with the metadata, for easy consultation and access. The legal files can be accessed using a web portal with advanced search functionalities.
Cost savings with e-invoicing
A recent study of Billentis (The e-invoicing report) shows that processing e-invoices instead of paper/pdf-based invoices has a potential saving up to € 6,60 per invoice or more on your direct spend. Imagine the time and effort you will save. Four domains of potential savings can be defined:
- Reduced costs for sending invoices via postal mail, including expenses for printing, infrastructure, labor to prepare invoices, and more.
- Reduced costs associated with outstanding invoices, including reminders and debt collection processes.
- (Indirect) savings resulting from efficient invoice formatting and delivery, facilitating quicker payment follow-ups and refunds.
- Cost savings by digitizing invoice archiving, eliminating expenses related to paper-based archiving methods.
E-invoicing enhances your business efficiency by automating invoice exchanges, reducing errors, and always be compliant.
More than just electronic invoicing
A futureproof solution
Are you ready for the future when you are looking at your invoicing processes? By choosing Routty by Dynatos as a e-Invoicing solution, you will be. Due to all necessary B2B and B2G mandates, it is as well futureproof as cost-efficient with automated compliancy regulations.
Frequently asked
Implementing electronic invoicing involves assessing your current invoicing processes, selecting suitable technology solutions, training staff, and establishing connections with trading partners for the electronic exchange of invoices.
The costs of electronic invoicing include initial setup and implementation costs, software licensing or subscription fees, ongoing maintenance expenses, and any costs related to integrating with existing systems.
Common file formats for electronic invoices include XML, EDI, PDF, and structured data formats compatible with electronic invoicing standards such as UBL (Universal Business Language).
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