Building the business case for e-invoicing (also known as 'e-billing')
Monday, 30 Mar 2015
It’s funny: I sat down to write a short blog post on ‘building the business case for e-invoicing’, but what came to mind was a conversation I had last year at an event in Florida for financial operations. I was hanging out at the Basware booth, and a couple came to speak to me.
Senior Product Marketing Manager
They proceeded to engage me on the topic of purchase to pay and e-invoicing. Nothing strange about that: Basware offers both, and the event was all about process optimization across the supply chain.
Anyhow, I launch into my pitch: explaining how important e-invoicing is for purchase to pay processes, and talking about the cost-benefit of e-invoicing. As my mouth keeps talking, in my head I’m thinking ‘I’m in the United States - maybe I need to take a step back? Maybe e-invoicing is too far for this company?’
Just then, the woman stops me and says ‘we don’t need to prove the business case for e-invoicing – we understand. We just need to find the right partner to work with.’
Wow – even in the US, e-invoicing is becoming business as usual.
If you are among the enlightened ones, feel free to stop reading now and skip to my future blog posts on the subject. For the rest of you, listen up. This just in: Sending e-invoices can reduce administrative costs by 40% to 60% (an average of $8.10 (€7.00) per invoice) and receiving e-invoices can reduce administrative costs by 60-90% (an average of $12.80 (€11.00) per invoice). Where do the numbers come from? Well, it’s a split between transactional savings, process efficiency and, in some cases, the reduction and/or elimination of capital and labor intensive in-house scan & capture.
These may seem like bold claims. But, to be honest, the research all agrees on the positive value of e-invoicing. Read the new eBook – 6 Steps to e-invoicing Success for a broader explanation. Check out our e-invoicing benefits calculator to get an indicative view of your business case (if, unlike the couple referenced above, you need to prove the business case internally).
When you are ready to go beyond a general business case, give us a call. We can work together to personalize it to your business, your industry and your opportunity.
Thanks for reading, same time, same place next week,