What to Look for in an Electronic Invoicing Platform

What to Look for in an Electronic Invoicing Platform
What to Look for in an Electronic Invoicing Platform 2.00/5 (40.00%) 1 vote

Paper is so yesterday. When it comes to administrative functions, it’s all about going digital. Electronic invoicing is on the cusp of breaking through as a standard in the business world., as it’s an area that is quickly proving beneficial to businesses of all sizes.

If you’re considering e-invoicing, here’s what you should look for in a provider.

1. Is it Free? There’s no reason you should have to pay for sending or receiving an invoice. There are companies who will tell you they have to charge you because the backend of the software is complicated to build and manage, but trust us: it’s not. You should never pay for digital invoices.

2. Does it Serve My Type of Business? Some e-invoicing is better suited for corporations with accounting departments. You’re a small business, and as the owner, you might be the one paying the bills, and you might only sell one type of product. You want an e-invoicing platform that will adapt to whatever your business size and needs.

3. Is it Customizable? One invoice does not fit all, and not all invoicing services make it easy to tweak a template to fit your company’s needs. But if it doesn’t do the job, what’s the point of using it? Look for an electronic invoicing system you can customize any way you want.

4. Does it Offer the Ability to Add On Other Services? Having the ability to accept electronic payments is a huge time-saver for your company, but it’s not a service all invoicing companies offer. Look for companies that allow you to pay to add on other features, like accepting payments or providing financial analysis tools.

5. Does it Work With What I’m Already Using? It’s pointless to sign up for an e-invoicing platform that doesn’t integrate with what you’re already using in terms of accounting software. You want an invoicing tool that will play nice with other apps.

6. Is it Safe? When you have sensitive product or pricing information in an invoice being transferred digitally, you want assurance that your data is protected. Any company who can’t guarantee that it is isn’t one you want to work with.

7. Is it Easy? If you’re not a technology whiz, you certainly don’t want to sign up for a complex invoicing solution that will take days or weeks to set up and learn. It should be intuitive and dead simple to use.

8. Is it Designed for End Users? Many invoicing companies focus on sending invoices, which you do. But you also receive them. Is there a way you can encourage your vendors to use the platform so that you’re all on a single system? Doing so can help you pay and get paid faster.

9. Are You Able to Produce a High Volume of Invoices? If you send out thousands of invoices a month, can the e-invoicing platform handle it? Will you be charged if you send more than a set number of invoices a month?

10. What Kind of Support Does the Company Offer? If you have questions, you want to know that someone is available at any time to answer them. Sometimes free invoicing services mean zero support, but don’t settle for that. You are entitled to both free invoices and ’round the clock support.

Switching to electronic invoices can help you process your accounts payable faster and cut down on the time you spend managing invoices. Why not try out InvoiceSharing for free? You’ll see how easy it is to manage your invoices digitally.

Drs Jeroen Volk RA

CEO


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