From the last decade, everything is becoming electronic. Everything is changing to being electronic because there are numerous advantages of having something electronic than written on papers. The government of India also asks people to use everything as much electronic as they can. Being digital is now one of the primary goals of the present government to achieve in their period. This is the same case for invoices. Business owners have started to opt for e-invoicing rather than previously used invoicing which was hand written. E-invoicing has proved to be of great help in invoicing. It has changed the invoicing methods, and the way invoices were generated before. Today, invoices are the main part when we talk about any business. This blog shares some facts of why e-invoicing is better than conventional invoicing.
E-invoices are delivered way faster than paper invoices. Today anything can be sent within a few seconds to someone we want to share. Whether it be a photo or an invoice, anything can be delivered within seconds. Paper invoices takes time to deliver and here we are talking about days. It may happen that the invoice has not been delivered for even a weeks. Because of this e-invoices are used because they can be delivered faster, as soon as the deal is completed, invoices are delivered. This fast delivery has led to the more seller usage of e-invoices.
E-invoices leads to a huge cost reduction, and cost reduction means an increase in profits. When you use e-invoices, then the cost of paper and their delivery is reduced. The cost of delivery is huge though because a person is sent to deliver the invoices who takes his commission for the same as his resources are used like petrol charges and his charge etc. This total cost can be reduced to a negligible cost when we deliver an e-invoice. The cost in sending an e-invoice is nothing in front of paper invoices. Cost reduction is what every small business owners want because cost reductions lead to the profit margin and profit is what everybody needs.
Reduced Fraud And Duplicates
Nobody wants any fraud or corruption to happen under the nose of the owner of business, but not everybody thinks the same. Frauds and duplicates are the common issues that we commonly used to hear about when e-invoice system was not introduced. Frauds included making another invoice with same signatures but having different amount. The original amount was delivered, and the rest was kept by the persons delivering them. This reduced the image of the company, and the profits were reduced. Adding extra charges also made the customer feel like they have been cheated. E-invoices were introduced, and fraud percentage was reduced to zero. This is a major advantage of e-invoice, and the margin of fraud is zero.
Easy To Search
Paper made invoice were first made for the user than for the owner himself for the record purposes. The number of deals that a company makes increases as the time passes and keeping the invoice for every deal is a tough job. Whenever there used to be a need of finding an older invoice, then the search operation used to start which was a tedious job. E-invoices made this job as simple as ever. Saving an invoice in the computer is easy and whenever there is a need to search the invoice, only a name to search is entered, and the results are displayed within seconds. This is a huge relief for the business owners and has saved time to a vast extent.
In the case of an emergency like fires in the storage department, every record is lost and cannot be recovered. Paper invoices had this huge disadvantage and losing the records is a huge blow for the business owners. E-invoices are easily recoverable even if the data on the PC is lost in which the invoices were saved. How? E-invoices are stored in the cloud as soon as they are saved on the computer. Cloud storage can be accessed from any computer or mobile around the world. The only thing needed is the user id and password. In this manner e-invoices are indestructible, and this is the best thing to have for invoices.
Meeting Green Initiatives
Green initiative was launched by the government of India to decrease the usage of papers wherever we can. Even in the ATM's, bills, invoices the government asks for the minimum usage for papers and go digital as much as can. E-invoices contributes to this goal and works without papers. Using papers is harmful to the environment when seen on the large scale. Papers are developed from the trees. 15.3 billion trees are cut every year just for making papers. As the population is increasing and becoming more and more literate, the use of paper is increasing and leading to the cutting of more trees. E-invoices does not use any papers and therefore works to save the environment. E-invoices are therefore preferable and advisable whenever there is a need to deliver the invoices. In this way even if the customer does not require the invoice he can just delete it as previously throwing the paper in the dustbin.
E-invoices have proved to be the best advancement in the field of invoices technically and economically. From saving the cost to saving the environment, e-invoices are adopted by more people day by day. For the same purposes, some software is also available on the internet which makes the generation of e-invoices easier. MyBilling is also one such software and is developed by ShimBi Labs. E-invoices are something that has brought the changes which were necessary for this field. Invoices being the most important part of any business are made with as much care as the owner can. Apart from the above facts, e-invoices are also used for generating more beautiful invoices which were hard when paper invoices were made. Usage of e-invoices saves time and the time saved is implied on other jobs which generate cash flow in the business. So, e-invoices not only reduces the cost but also helps you generate more. Can anything be better than this? The answer is obvious.