Send e-Invoices, like a pro
Electronic invoicing is faster, more accurate, and more cost-efficient than traditional paper invoicing. Small wonder it’s become the new standard. Whether you’re looking to deliver invoices directly via EDI or XML, over email, or in any other conceivable electronic format, outsource the complexity to Corcentric EIPP and manage this through one streamlined platform.
Electronic invoicing software removes the time and cost of printing and posting paper invoices, including maintenance of printing machinery. E-invoice production is easily automated, eliminating manual accounts receivable processes and costs.
Generate electronic invoices via a highly nuanced and dynamic service layer on top of your ERP system or accounting software. No more accidental copy-paste errors or other invoicing mistakes. Automatically create invoices with 100% accuracy.
No More Manual Uploads
Say goodbye to manual keying, or uploading, of invoices into customers’ accounts payable portals. Corcentric EIPP can facilitate direct delivery, replacing manual uploads. Remove hours of manual re-keying and the associated risk of human error in online invoicing.
Sending e-invoices, rather than paper, means they reach your customers wherever they are. Paper invoices may languish in a mailroom when teams are working remotely; e-invoice delivery cuts though. End-to-end visibility of receipt, read, and payment status enable timely follow-up and exception handling for faster payments.
Improve Cash Flow
Enable immediate online payment of invoices with credit card, debit card or other payment methods, reducing delays and delinquency. Faster payments improve cash flow and liberate working capital, enabling business growth and increased financial stability.
Migrate Customers to e-Invoicing
Humans resist change. It’s in our nature. There’s no point in having an e-invoicing solution used by too few customers. Let us help you convert your customers to accept digital invoices. We typically achieve over 80% conversion to e-invoicing within a few months.
Did you know?
e-invoices are sent by
Corcentric each year.
in electronic invoices sent
by Corcentric each year.
is the average conversion rate
to e-invoicing for our clients.
Source: Corcentric 2021
Sending e-Invoices FAQs
What is e-invoicing
E-invoicing or electronic invoicing is the sending of invoices in an electronic format. Typically used for professional invoices, e-invoicing functionality is provided by an invoicing system enabling businesses to email invoices or send via direct digital invoice formats such as EDI or XML.
What are the benefits of e-invoicing?
Electronic invoicing is faster, more secure and lower cost than old-fashioned paper invoicing. Furthermore, e-invoicing is easier to automate and scale, improving efficiency and agility. E-invoicing can also provide the sender with insight into who has received, read, acknowledge and paid each invoice and when this happened.
With the added visibility from e-invoicing, payment reminders can be automated before unpaid invoices reach their due date.
How does e-invoicing work?
E-invoicing works best as part of an EIPP solution, where buyers receive a notification, typically by email, linking to their new invoice on a secure platform that allows them to pay directly online too. The electronic invoicing part of EIPP is simply the generation of an electronic invoice from ERP system data and the delivery of this, in the correct format, to the buyer.
Electronic invoices can be produced and delivered in a variety of formats, from human-readable formats, using invoice templates, such as PDFs or HTML documents, to structured-data files using EDI or XML formatting conventions. The most secure and efficient e-invoices are sent directly to AP systems, or via a PEPPOL access point, as encrypted and rigidly formatted data files, where they can be automatically processed for prompt payment.
How do I generate an e-invoice?
Electronic invoices can be generated from a variety of different solutions. Most finance packages and ERP systems have the ability to output invoices in a variety of electronic formats. However, if specific additional information needs to be included, or particular formatting applied, this can require additional development work to extend an ERP system’s capabilities. By connecting ERP or financial systems and routing to a dedicated e-invoicing platform, such as Corcentric EIPP, this can automate complex formatting and delivery requirements and streamline the whole process.
Can I just attach PDFs to emails for e-invoicing?
Sure, this is a form of e-invoicing. Just not a very good one. First of all, it’s possible for hackers to intercept and even clone your emailed invoices, inserting their bank details, tricking your customers into paying them instead.
Secondly, you have no visibility of who has opened, read and acknowledged invoices sent in this way.
Thirdly, PDF attachments to emails get stopped by a lot of spam filters. Your invoices might not even reach all of your customers, preventing them paying outstanding invoices by the due date and resulting in late fees for your customers.
The best e-invoicing is done via an EIPP platform, such as Corcentric EIPP, to ensure you benefit from security, visibility, automation, formatting, delivery and payment handling that is not possible when simply sending e-invoices as PDFs over email.
Is e-invoicing expensive?
Electronic invoicing does not need to be expensive, but some solutions may require high up-front implementation costs, ongoing license fees, or place expensive demands on your IT resources.
Corcentric offers e-invoicing, via EIPP, at a very reasonable volume-based cost. You are simply charged for the volume of invoices you send each month. This means the savings made by switching to e-invoicing can offset your monthly service fee. What are you waiting for?!?
Is e-invoicing a legal requirement?
This depends entirely on which country you are in. Electronic invoicing has been mandatory across much of Latin America for years, in some countries over a decade. Europe has followed the success of Latin America and brought in mandatory e-invoicing for public sector procurement, but still allows private sector businesses to use paper invoicing, although requires all businesses to accept and process electronic invoices, if they receive them.
The global adoption of e-invoicing saw a compound growth rate of 17% from 2014 to 2019 and has continued to accelerate, driven in part by the COVID-19 pandemic. Even if e-invoicing isn’t a legal requirement in your region, or where you invoice customers, it is likely to become a requirement in the future. We can help you become legally compliant with e-invoicing requirements today and prepare for the future, regardless of format, delivery mechanism or processing requirements.