E-invoicing: how we handle it

Feb 2015
-
Pascal Noppe

At XIO we strongly belief that e-invoicing boosts an organization’s efficiency, as we experience it every day. We started invoicing digitally ourselves in 2012. Since then we helped many of our clients with e-invoicing startups and web shop integrations. Let’s dive into some of the major e-invoicing benefits.

e-facturatie bij XIO

 

Invoicing digitally since 2012

E-invoicing was the final step in our mission to gather all company communication and administration in the cloud. We selected the Freshbooks platform because it seamlessly fits our services and activities. It’s a top cloud-tool with a solid API for integration for small to medium sized enterprises.
We succeeded to convince our professional partners with an e-mail campaign that verified their e-billing e-mail address at once. But no one was forced to hop on our e-invoice train. We kept the paper invoice optional.


E-invoicing benefits in figures

After 3 years of e-invoicing our 2014 figures learn us that:
We did send 417 digital invoices and 250 automatic reminders from our e-invoicing system

Of our 171 customers only 8 (5%) still prefer the paper invoice, in addition to the usual electronical version we send them of course.
A quick calculation reveals that e-invoicing saves:

  • 1 euro per invoice and reminder (paper & stamps) = 417 + 250 = 667 euro
  • a  10 minutes administrative benefit per invoice (preparing & sending)
    667 * 10 = 6670 minutes = 112h * at a 40 euro wage = 4480 euro
  • Minus the Freshbooks subscription that costs about 700 euro a year

Totals a 4500 euro cut down on expenses, year after year.

The Indirect profit is harder to express in numbers. But one thing we know for sure is that it improved the amount of on-time paying customers.

Advantages of e-invoicing for companies

We experienced that e-invoicing enterprises profit from:

  • A serious cut down on paper, Post and staff expenses
  • A more professional image towards customers
  • A better Cash Flow control
  • More Insights as the e-invoicing tools deliver you Reports, previously unavailable
  • A better Customer Service by offering a 24/7 high level view of their account
  • More Time left to focus on Strategy and Growth


The benefits of e-invoicing for Customers

We’re not the only ones enthusiastic about e-invoicing, also our clients, small and enterprises, give us positive feedback:

  • We achieve more efficient processing
  • Automatic reminders come in handy
  • Overall better overview
  • The archive feature is most helpful

 

Find out more?

Don’t hesitate to contact us for advice or insights. We’ll be happy to let you in on the advantages and challenges of e-invoice implementation or an integration to your web shop.

 

Related links

 

Concept & strategy
E-commerce
Integration