eInvoicing is a cost-effective and efficient alternative to traditional paper-based invoicing. It eliminates the problems associated with handling paper and allows you to improve your finance processes by invoicing your customers digitally – through your website, by email, on a mobile app or by text.
Your invoices arrive with your customers instantly and are easier for them to process and pay, whichever electronic delivery channels you choose.
The challenges of paper-based invoicing
Paper invoices are costly to send, slow to arrive and environmentally unfriendly. In an increasingly digital world, they also seem out of place. Today, most companies expect to have the option of receiving a digital invoice, together with invoice data that they can import into their own financial systems to reduce manual effort — or analyze to help with planning and budgeting.
Whether you're looking to make the switch to eInvoicing, or have an existing electronic invoicing system that you want to enhance, Macro 4 can help you achieve your goals quickly and affordably, without having to change your current financial systems. When you use our eInvoicing software you can still print paper documents if you want to, but you'll also have the capability to deliver documents and data digitally, in a range of formats. This way, you can transition from paper to digital without any disruptions to your business processes.
How eInvoicing with Macro 4 works
Invoicing can be a tedious and time-consuming task, but with Macro 4's eInvoicing solution, you can say goodbye to the headache and hello to efficiency. Whether you're producing hundreds, thousands or even millions of invoices per month, we offer a scalable enterprise eInvoicing solution that will meet your needs.
Our electronic invoicing solution allows you to manage customer invoicing preferences, such as email, print and self-service, all in one place, whether you choose our ready-to-go web portal or integrate eInvoicing into your existing customer portal. And with automated reminders and compliance with international eInvoicing standards, such as Factur-X, ZUGFeRD, XRechnung and digital signatures, you can rest easy knowing that your invoicing process is not only streamlined but also meets your regulatory requirements.
But that's not all. You can create further efficiencies by adding related documents like PODs, statements, correspondence and purchase orders to deliver a comprehensive eInvoicing and credit management solution. With all accounts receivable documents in one convenient location, you will save time and reduce administrative costs. Combining self-service for customers with easy access for your accounts receivable team also helps you improve key financial performance indicators like days sales outstanding (DSO) and cash flow.
The benefits
Lower printing and mailing costs
A single paper invoice typically costs at least $2 or £2 to print and mail, so when you consider the number of invoices your business sends in a year, the costs soon mount up. There’s the paper and toner, envelopes, postage and more. With eInvoicing, the only expense is the initial set-up and software cost. Once you’re up and running, your expenditure for sending out invoices will be minimal.
Faster payment
Manual handling of paper invoices is unreliable and slow. Paper invoices are vulnerable to loss or damage in transit, and take at least one full working day to arrive at their destination. With eInvoicing you can produce multiple digital invoices in a matter of moments and send them to customers immediately. No more lost or delayed invoices means fewer payment delays.
Efficiency savings
eInvoicing frees your accounts receivable team from dealing with basic customer enquiries such as requests for copy invoices. Customers can access all their own documentation from your self-service portal, including invoices from previous months and related documents such as purchase orders and delivery notes. So your finance team can spend more time on high-value tasks, and less time chasing paper.
A great customer experience
You can send customers automated email notifications and reminders so they need never miss an invoice again. Once they click through to your self-service portal they will see all the information they need to review invoices quickly and approve them for payment. All in all you’re saving customers time and administrative effort — as well as helping them to pay their invoices on time. Less stressed customers equal happier customers, who keep coming back to you.
Security and compliance
You can prompt customers to log in to a private area of your self-service portal or send invoices as a password-protected email attachment. Either way, access to invoices is secured, ensuring that sensitive financial data goes only to the intended recipient. All documents and data are held securely in an online content store. Your information is encrypted, tamper evident and auditable, so you can maintain a long-term legal archive to comply with your regulatory archiving requirements.
Eco-friendlier invoicing
Do your part towards protecting the planet by reducing your company’s impact on the environment. No paper invoice means no tree felling and no more fuel consumption, pollution or emissions from mailing and shipping.
End-to-end trackability
Whether you’re sending out invoices locally or halfway across the world, you’ll have clear visibility of their progress thanks to invoice status tracking. Get send and open updates so you know exactly what stage of the process your eInvoice has reached, and automatically give customers a nudge at the right time.
Explore more
Accounts receivable solutions
Credit management
Sales order processing
Frequently asked questions (FAQ)
What is eInvoicing?
eInvoicing, or electronic invoicing, is the process of sending invoices to customers electronically rather than as a printed paper document. Invoice data may also be provided for customers to analyze or import into their own financial systems.
A modern eInvoicing system allows you to manage customer preferences and send invoices using a wide range of digital delivery channels. You can also issue invoice notifications and reminders and continue to generate printed documents for people who still want them.
What's the difference between eInvoicing and eBilling?
eInvoicing and eBilling are essentially two very similar terms which refer to the process of producing electronic versions of invoices and bills. Both terms are used in business-to-business and business-to-consumer scenarios, but eInvoicing is more commonly used in relation to B2B billing processes.
Why is eInvoicing required?
More and more customers now prefer the convenience of electronic invoicing, so offering it as an option may be required for customer retention. Moving away from printing and posting invoices is also important for businesses seeking to reduce costs and minimize their carbon footprint.