E-invoicing – Yes, please – but how?
Wednesday, 15 Apr 2015
As the title implies, I’m making an assumption that you’ve already decided e-invoicing (also called electronic invoicing, electronic billing or e-billing) is something you want to do.
Senior Product Marketing Manager
But you’re trying to figure out how to go about it. Short answer: contact us (gratuitous plug I know). Long answer: read this blog post to get tips about what you’ll want to consider over the next few months.
First of all, what size are you: big or small?
I’ll make it easy. Consider your current invoice volumes - both sales invoices (Accounts Receivable) and purchase invoices (Accounts Payable). If you are sending or receiving tens of thousands or millions of invoices you are big.
Requirements of the ‘small’ guys
For the small guys, your list of requirements is likely to look like this: cheap (or better yet: free) and easy. In most cases, your options are dictated to you by your larger trading partners. And, your requirements are largely focused on streamlining the transaction itself.
Requirements of the ‘big’ guys
For you larger companies out there, you’ve got more to think about. E-invoicing has broad impact on internal processes. It affects supplier and customer relationships, and can have a material impact on bottom line performance. And that’s a nice segue into what I really want to discuss: how do you begin defining your e-invoicing solution requirements.
Defining your e-billing solution requirements
If you’ve read my blog recently, you know I’ve got a new ebook which address all things e-invoicing. At this point, I’d like to direct you to the latest chapter (chapter 3).
Without giving it all away, here is a quick summary. To be fair, it’s mostly common sense:
- First, understand your goals
- Make sure you understand the underlying processes which will be impacted and who is involved
- Look outside of your organization – perhaps others in your industry or your region are already on the e-invoicing bandwagon. You can often learn the most from your peers
- Make a business case. Why? Because it forces you to articulate exactly why you are investing and what your timeframe is.
For more great tips read the chapter. There is a list of the right questions to ask, the right stakeholders to include, etc.
E-invoicing may be new to you but it’s been around for years. Don’t feel you need to re-invent the wheel. Take advantage of the thought leadership which is out there, let us help you, contact us. And, if nothing else, follow me on Twitter @rowanlemley.