Choosing the right e-invoicing network
Monday, 18 May 2015
If you’ve been reading along for the past few weeks, you’ll know that I’ve on a mission. Today, my particular rant is all about choosing the right e-invoicing (also called e-billing) network. In this case, we’re talking about B2B commerce networks. It’s big business these days and a lot of people are talking about networks and their impact on everything from internal processes to the global financial supply chain. So the question which needs to be immediately answered is: why do e-invoicing (e-billing) networks matter – and why should you care?
Senior Product Marketing Manager
What is an e-invoicing network?
Before answering the question, let’s clarify further what a network is. A few years ago, a network might well have been described as an infrastructure or a collection of point to point connections. To be fair, a network is an infrastructure - but these days it’s also more.
B2B networks have become e-commerce market places where businesses and governments connect, transact and collaborate. B2B networks have become the new frontier and are doing for business what Facebook did to personal networks: they are making it easier to do business - just like Facebook makes it easier to stay connected with friends.
Why your choice of e-invoicing network matters
So, choosing the right network – why should you care? For starters, some networks will charge you and others won’t. Some will charge you per transaction, some will be free, and still others will charge you a percentage of the transaction. Those are three very different models which you need to consider. How do you want to be charged?
Another thing to consider is the fact that there are multiple networks out there and if you join one, there’s no guarantee that you will be able to connect with trading partners who are on other networks – this is an obvious issue because when your network reach is limited based on the network you chose then that network’s value is diminished – as are your commercial opportunities. Do you want to join an open network or a closed one? My recommendation is always go for open.
Download our free eBook to find out more
I don’t want to repeat everything in the eBook here. It is worth a read as I think a basic understanding of B2B networks, how they are typically structured and why the differences will be important to you. Download eBook step 4: Choosing the right e-invoicing network.
Same time, same place – see you here. Until then, go read the eBook.