E-Invoicing

Enjoy hassle-free, paperless invoicing from day one.

Paper invoices are expensive to handle and so time-consuming to match and process that early payment discounts are missed and late payment fees incurred.

You can eliminate paper for good with true electronic invoicing from COR360. Schedule your free demo today.

An Overview of Electronic Invoicing

E-invoicing is much more than switching your accounts payable department to a paperless system. It’s efficient, cost-effective, and the way of the future. From manufacturing industries to higher education and financial industries, everyone is switching to electronic billing and invoice management.

Transitioning to an Electronic Invoicing System

Despite the huge cost-savings and improved accuracy, some industries and many businesses have still not switched over to electronic billing systems. Some of the common barriers to e-invoicing and billing are:

  • Comfort – Paper billing is familiar, it’s easy to understand, and people are used to the process. Aside from occasionally misplacing a check or invoice, there are relatively few hassles with traditional billing.
  • Scared of Technology – Many traditionalists are wary of credit cards and the security issues that are raised with making payments via mobile or online.
  • Lost Profits – Some businesses are concerned that a switch to paperless billing means they’ll lose out on profits from consumers and suppliers that still don’t have credit cards, computers, smartphones, or make use of online banking.

e-invoicing-workflow

Cut Costs and Solve Inefficiencies with an E-Invoicing Solution for Business

According to a research report conducted by PayStream Advisors automated and electronic invoice processes can result in a savings between 60% and 80% when compared to traditional paper-based processing. While cost-savings is still the number one reason for most businesses and organizations to switch to paperless e-invoicing systems, it isn’t the only reason to make a change. When it comes to business, time is money too.

Move your company to an e-invoicing system with COR360 and watch your efficiency soar. With COR360’s powerful functionality and features, it’s easy to level the playing field and enjoy the same scalable automations as Fortune 200 companies. An electronic invoicing process can help your company:

  • Cut invoice-processing time – in the time spent going to the post office and waiting for the mail, there can be countless electronic invoices and transactions completed.
  • Ensure data accuracy by removing manual/keying errors – no matter how disciplined, human errors happen. With the help of an automated invoice system, these errors are eliminated.
  • Eliminate the problem of lost or misplaced paper invoices, plus feel the flexibility to conduct business and send invoices from anywhere in the world.
  • Foster supplier loyalty through predictable, on-time payments and encourage customers to switch to paperless with loyalty programs and discounts.
  • Minimize inbound calls from suppliers and vendors asking what the status is on their current invoice – with invoice management software and supplier portals, they can log in and check their own invoice status.

Get a Demo

About Corcentric’s E-invoice System

You can take advantage of three options to make paper-free invoicing a reality:

  1. Corcentric Supplier Network
    Connecting supplier finance systems to our network means full, paperless e-invoicing using EDI, XML, flat files, or another electronic data exchange method without costly fees.
  2. Corcentric Invoice Virtualization Center
    You can go paperless with invoice scanning and data capture to turn invoices into electronic data for automatic matching and fast processing.
  3. Corcentric Supplier Invoicing Portal
    The final option is the Supplier Invoice Portal. The free-to-use, 24/7, self-service portal means you get supplier invoices in electronic format for fast processing  and your suppliers have access to invoice status. It means fewer phone inquiries for you to answer.

We’ll work with you and your suppliers to handle both the technology and communication changes to ensure that your business’ e-invoicing solution is implemented quickly and seamlessly.