Posted by Link4 Team on 04/04/2017
With technology advancing at such an incredible rate, many businesses are looking to capitalize on any advantage in order to improve efficiency and save money. This has given birth to several new methods of invoice processing and exchanging.
One of the more popular methods now available is mobile scanning. In this process, a paper invoice is photographed and sent to a third party via an app. The key data is then extracted and stored in a computerized document.
Mobile scanning might seem like exciting technology at first; but when the novelty wears off, we are still left with a system that is more inefficient and inaccurate than it needs to be. Even the best mobile scanners only have an 80% accuracy rate for data translation. Sure, it’s faster than the traditional method, but everything has to be double-checked by someone. And errors still get through, meaning more of the same dragged-out disputes and late payments disrupting your business’s cash flow.
But a solution is here – True e-invoicing. True e-invoicing is a completely automated way of sending and receiving invoices via the Cloud. It is a method that has already been adopted in Europe, North and South America, and will soon become a standard in many countries the world over.
True e-invoicing is when the entire lifecycle of the invoice is computerized. That means no more paper, no more scanners, and no more PDFs. No more tedious manual labour for you or your employees, so you can focus more time and resources on growing your business.
It has proven to be faster than any other process, more cost-effective (savings of up to 90% when compared with traditional invoicing costs), allows clients to pay quicker and reduces human error – and it can all be achieved from within your current Accounting software with the help of the Link4 add-on. Find out more about how true e-invoicing with Link4 can benefit you: https://link4.co/au/