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Tips for Proper E-invoicing Project Planning
E-invoicing project needs to be planned based on the number of invoices that can be instantly processed and the countries where the invoicing parties operate.
FREMONT, CA: Many companies want to integrate an e-invoicing solution but don’t know where to start. Having a proper plan and strategy would provide the expected result.
Here are four tips for proper planning of e-invoicing project:
An organization may need to use both printed invoices and e-invoices during the transitioning phase. The printed format may be required for some invoices because of complex internal processes, and some companies might accept and issue printed invoices for some time. But continuing to do so will only double the workload and possibly increase the costs instead of decreasing it as intended.
It is crucial to prepare a business cased based on the ROI as managers of an organization want real results and how each decision generates profits. The e-invoicing solution provider can provide substantial assistance by offering reliable financial estimates based on their experiences. However, to create the necessary consent, an organization needs to come up with a mutually acceptable approach for calculating the average cost of processing e-invoices. Without this mutual approach, the organization will not know whether the e-invoicing project will provide the financial outputs or not.
The Role of EDI
To profit from the major advantage of automation, the e-invoicing solution needs to include some kind of EDI. This will need specialized IT resources with the essential knowledge on the know-how with the EDI solution.
E-invoicing project needs to be planned based on the number of invoices that can be instantly processed, and the countries where the parties operate. Plan and start with specific invoices based on certain criteria such as invoice type, customer category, and such. This can be gradually expanded, and the number of invoices that are automatically processed can be increased.
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