E-invoicing vs Online invoicing
It is important to note that E-invoicing is not the same as online invoicing.
Online invoicing, in most current business scenarios, refers to either a scanned copy of the invoice or a PDF file sent to the recipient organisation via email. The process relies on manual data entry as your recipient will have to re-enter the details of the invoice into his own accounting system (e.g. accounts payable). Similarly, you may be receiving many online invoices in the form of PDFs – you will also need to have someone manually input the invoice details or scan the pages of invoices into your system.
E-invoicing (via InvoiceNow) on the other hand is an invoice created digitally in a supplier’s financial system, transmitted electronically through the PEPPOL network to the recipient (buyer) where it is processed automatically without any human intervention. For example, E-invoices received in a PEPPOL-ready accounting solution can appear as draft bills automatically without any manual data entry.
InvoiceNow will help both Small and Medium Enterprises (SMEs) and Large Enterprises enjoy smoother Invoicing, faster digital payments, and a better way to save the environment.
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