Laws set the pace for any industry. The field of automated accounting and invoicing is no exception. The best proof is that more and more countries are requiring online invoicing, and at the same time, companies are adopting and utilizing the digital format. But is e-invoicingnecessary due to obligation or due to the benefits it offers to companies and the business sector?
Why is e-invoicing beneficial?
The experience of easyap in projects combining technology and accounting spans more than two decades. During this time, working in multiple environments and with companies from various sectors, we have seen how e-invoicing is positive and beneficial for many reasons.
Our track record provides us with eleven arguments that go beyond the legal aspect to corroborate this idea. Specifically, these arguments are the benefits of digitizing a process as important as invoicing.
1. Time and Cost Savings
Electronic invoices eliminate printing, postal mail, and the need to store your documents on paper. These changes result in a significant savings in time and associated costs with file management, not to mention the cost of having space to store all those invoices.
2. Greater Efficiency and Productivity in Your Business
E-invoicing automates an arduous yet necessary process in your business, such as invoicing. Furthermore, with an automated digital system, you reduce manual errors, thereby improving efficiency and productivity within your company.
3. Improved Management of Payments and Collections
These types of digital invoices are sent, received, and managed instantly.Therefore, by managing payments and collections more quickly and efficiently, the entire process is much more agile and faster than with conventional invoicing.
4. Guarantee of security and privacy
Online invoices are backed by electronic security measures. We refer, for example, to the digital signature. This way you will be reducing the risk of fraud, theft, and document falsification, as well as better protecting the data of the parties involved in a transaction and maintaining their privacy.
5. Optimize data management
The issuance of electronic invoices allows you to integrate all billing data into business management systems like the one we develop at easyap. With it, you will achieve better data management and, consequently, you will be able to make better business decisions.
6. Facilitates compliance with legal and tax requirements
With good software for issuing electronic invoices, you will also comply with the legal and tax requirements of your country or region. You will be able to adhere to the invoice formats required by each of the tax authorities to which you must report, and consequently, avoid penalties and fines of any kind.
7. Adaptability to invoices in any format
As long as your system gives you the option, you can adapt your online invoices to your clients’ requirements. For example, with easyap’s solution, you have the possibility to issue electronic invoices in UBL format, which is very popular, and thus improve customer satisfaction.
8. Improves communication between company, clients, and suppliers
Precisely because of what we mentioned in the previous point, the issuance of electronic invoices allows you to maintain a more fluid and faster communication with your clients and suppliers. Likewise, this efficiency and agility improve customer service and the resolution of their problems.
9. Reduces human error
It is proven that, besides being faster, digital invoicing systems fail less than people. Therefore, we guarantee that good software for issuing electronic invoices helps you reduce human errors: the omission of information, duplicate invoices, calculation errors, etcetera.
10. Reduces environmental impact
In turn, with electronic invoices the consumption of paper, ink, and other resources associated with paper invoicing is reduced.So by using this new format, you, your business, and your customers are contributing to reducing the environmental impact.
11. Better tracking of the entire process
Finally, a portal for issuing electronic invoices records every step of the operation.Therefore, it allows both your company and the client to carry out more efficient tracking of invoices. This way, invoice control and management are facilitated for all parties.
Where is the issuance of digital invoices mandatory?
Precisely because of this better tracking of invoicing that can be done, governments also advocate for imposing the issuance of online invoices. It’s what they call traceability and it allows them to control much more exhaustively whether companies comply with their tax and fiscal obligations.
Following this idea, it is not surprising that more and more tax authorities establish laws that mandate the issuance of digital invoices.In Spain, electronic invoicing is mandatory for any company operating with the Public Administration for years, and in 2023, it will also be mandatory between private companies. However, we are not pioneers nor the only ones who require it.
To begin, although the legislation on issuing electronic invoices depends on each country, the European Union (EU) establishes a regulatory framework. It includes measures to promote electronic invoicing processes in business-to-business operations. In this regard, there are several common guidelines:
- Directive 2014/55/EU. This directive establishes a European standard for electronic invoicing in public procurement. Since 2019, EU member states must ensure that their public procurement systems are capable of receiving and processing electronic invoices in accordance with this standard.
- European e-invoicing platform. The European Commission has developed an online platform for electronic invoicing that allows companies to send and receive electronic invoices throughout Europe.
- eIDAS Regulation. This regulation establishes a legal framework for electronic identification and trust services in the EU.
Furthermore, some countries also have their own electronic invoicing laws. For example, in Italy, since 2019, the issuance of electronic invoices has been mandatory for all companies invoicing other companies, and in France since this year 2023 as well. Meanwhile, in Spain, Denmark, or Portugal, issuing digital invoices is mandatory for any operation with the public sector.
And if we look outside Europe, we see that electronic invoice issuance is also a reality. In Mexico it has been mandatory since 2011 for all taxpayers, and in Brazil (since 2008) and Chile (since 2015) it is mandatory for all companies.
Is easyap the solution to meet your obligation, or does it go further?
But why do governments promote online invoice submission and management so much? The reason, as we mentioned before, is that they also benefit from its advantages: greater efficiency, productivity, accuracy, traceability… All this translates into time and cost savings, as well as an improvement in customer relationships.
This is where we come in, easyap. In addition to all the general advantages of electronic invoicing, our software offers you other benefits that are key for any type of company:
– Accessibility and improved communication.You and your clients can access invoices anytime, anywhere, as long as you have an Internet connection. This feature saves time and increases the efficiency and satisfaction of all software users.
– Integration with other systems. Our solution easily integrates with other business management systems, CRM, or ERP. Therefore, we facilitate the automation of invoicing processes and information management.
– Security and legal compliance.easyap’s software complies with all legal regulations concerning electronic invoicing relevant to your activity and region. Furthermore, it guarantees the security and confidentiality of the information contained in your files.
– Adaptability. We implement the software in any type of company, adapting to your specific sector and your business and fiscal needs. Furthermore, the invoicing volume does not matter, as with easyap you pay per invoice processed, not a fixed cost.
– Employee expense portal.easyap’s solution also has other functionalities that impact your accounting. The employee expense portal is one of them, allowing employees to directly enter per diems, travel expenses, and so on.
In summary, Easyap’s electronic invoicing software offers specific advantages for your business. It is because we provide all this, and not just to comply with a legal obligation, that we want to leave you our contact details.We are looking forward to starting with the digital transformationof your business.
