Why eInvoicing is the future for your clients

This content is brought to you by Xero.

Anyone who spends time invoicing knows it’s a fiddly business. Manually typing in details and double-checking the amounts. Sending a document via email or post and possibly following up to see if it’s been received. Do several of these in one go and it’s easy to feel glued to your office chair.

eInvoicing simplifies this process. Accounting systems ‘talk’ to one another so that eInvoices appear directly in the buyer’s software. The upshot? All the right information automatically travels to the right place without anyone handling emails and documents.

Let’s see how it works.

What is eInvoicing?

Short for electronic invoicing, eInvoicing replaces traditional formats with digital ones. All the same information is included but the delivery is different – a secure invoicing network sends data which is automatically captured by a buyer’s software.

Your clients don’t need to use the same accounting software as their buyers, just the same eInvoicing network.

Peppol is the standard network used throughout Europe, Australia, New Zealand, and Singapore. Businesses and governments trust it as a way to send and receive invoices.

Why switch to eInvoicing?

Here are a few of the key benefits of eInvoicing.

1. Less invoicing admin

Whether we’re talking about sending or receiving them, eInvoices will save your clients time and manual data entry. Each eInvoice appears as a bill to be paid in the buyer’s accounting system. Then it’s just a few clicks to make the payment and – voilà – it’s done.

2. Trade opportunities with Europe and the world

The digital economy makes doing business with Europe that bit smoother. Global trade is also simplified thanks to the ease with which payments can be requested and made. While eInvoicing is in its early days in the UK, there’s little doubt it will play a key role in the digitalisation of business across all industries.

3. Increased security and legitimacy

Your clients will enjoy better protection from fraud due to the high level of transparency of eInvoicing. Simply put, it’s harder to imitate an invoice when it’s sent on an eInvoice network. 

4. Improved cash flow visibility

With so many small businesses suffering late payments, accountants and bookkeepers must find ways to help keep cash moving. eInvoices are sent to the buyer’s software in a matter of seconds. The client can quickly see what’s due to be paid and generally manage their cash flow.

How Xero can help future proof your clients

Xero is the first major small business accounting software company to launch eInvoicing in the UK. As such, it can play a huge role in helping your clients digitise their financial admin and, in doing so, save huge amounts of time and stress (not to mention money). 

You can find more information in our complete guide to eInvoicing.

And if you’d like to start using eInvoicing for you and your clients, join the partner programme today. Alternatively, you can learn more about the software by booking a call with one of our experts.

This content is brought to you by Xero.

Xero offers a cloud-based accounting software platform for small and medium-sized businesses..