eInvoice helps save time and money processing invoices

As companies adapt to the twin impacts of COVID-19 and new Brexit rules, the search for greater operating efficiency will only intensify. eInvoice from Transalis offers an effective solution that helps you save time and money processing invoices.

Relying on antiquated invoice systems means you risk missing out on competitive advantage at a time when opportunities may be few and far between.

When it comes to the costs of invoice processing, there is scope to do much better thanks to greater automation.

There are many problems with the manual handling of invoices. Human error can easily creep in when under-pressure teams are dealing with hundreds of invoices from multiple trading partners.

You really don’t want to be spending precious time ironing out invoice errors and re-keying data when you could be out there generating profit.

By automating and streamlining invoice processing, you enable administrative resources to be reallocated to more valuable tasks.

This is the thinking behind eInvoicing, the electronic exchange of invoices rather than reliance on a paper-based system.

invoice is a cloud-based eInvoicing solution from supply chain optimisation specialists Transalis.

It enables you to consolidate your invoice data however that arrives while avoiding the need for manual keying with the attendant risk of human error.

As well as providing accounting process efficiencies here and now, the solution equips you with a full digital audit trail that can speed up dispute resolution further down the line.

The launch of eInvoice comes at a time when businesses are increasingly being mandated to adopt eInvoicing for government tax and regulatory compliance, aside from its commercial benefits in terms of greater efficiency.

Indeed, submitting invoice information in electronic formats is expected to dominate as a basic requirement of cross-border trade, with some countries already mandating eInvoicing and Real-Time Reporting of tax data now.

eInvoice is a scalable platform built on tried and tested technology that supports organisations and enables them to optimise their trading relationships.

To ensure the solution is ‘Brexit-proof’, we spent much of the lead-up to the end of the transition period updating our platform with a series of new ‘message types’.

These cover all the post-transition compliance checks that UK exporters and importers need for invoices, customs declarations and other essential documentation.

The aim is to give those manufacturers, retailers and suppliers who use our solutions the best chance of achieving seamless trading of goods between the UK and EU.

Transalis is one of just 12 solutions providers across the world to meet a rigorous new eInvoicing standard set by the European Union.

The EU’s move is in recognition that eInvoicing reduces the costs of processing, storage and archiving, and means there are fewer data entry errors.

Companies adopting eInvoicing give themselves a greater prospect of participating in cost-effective and secure cross-border trade and cooperation.

eInvoice addresses all common invoice and related message types. We provide a variety of validation checks to reduce error rates and speed up the invoicing process.

Our ‘bundle based’ business model provides a complete solution without any additional VAN, or value-added network, charges. In other words, no fee per transaction meaning you can apply eInvoice to however many trading partners you have at no extra cost.

We will also help you reach a high adoption with your trading network through a fully supported onboarding process featuring training, guides and user testing.

So, despite these challenging times, there is at least one piece of good news: eInvoice gives you the means to move on from manual processing work and embrace enhanced digitisation so you can save time and money.

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