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Electronic Invoicing: Top 5 Ways to Get Paid Faster in 2017

"Electronic Invoicing: Top 5 Ways to Get Paid Faster in 2017"

5 Ways Electronic Invoicing Helps Businesses Get Paid Faster

5 Ways Electronic Invoicing Helps Businesses Get Paid Faster

White Paper: Basware

Electronic invoicing delivers efficiencies across the accounts receivable cycle: invoice creation, invoice delivery, dispute management, posting, and reporting and analytics.

Most impor­tantly, reducing Days Sales Outstanding (DSO) with electronic invoicing enables businesses to reinvest more quickly to drive company growth.

This white paper details the inefficiencies of pa­per-based billing processes, and shows five ways that electronic invoicing accelerates the accounts receiv­able cycle, and, in turn, greatly reduces DSO.

  • Invoice preparation: With electronic invoicing, businesses can virtually eliminate the time required to prepare invoices.

  • Invoice presentment: Sending paper invoices internationally can add days or weeks to the invoice delivery process.

  • Dispute resolution: Resolving disputed invoices

  • Posting: Consolidating payments and remittance information received via various channels

  • Reporting and analytics: To manage all of their invoices from a single place for complete visibility and control across their accounts receivable processes

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What is

What is Invoice ?

An invoice is an official statement of payments issued by the seller to the buyer describing the number of items sold, rate of each item, date and time of shipment, and the total price payable by the purchaser. An invoice is also referred to as ‘bill of sale’ or ‘contract of sale.An invoice, therefore, serves as a vital document carrying all the detailed information of the products or services offered by the vendor.

What is Business ?

By definition a business is an organization or economic system with consistent and typical exchange of produced goods and offered services for one another or for money to fulfill human needs. Types of businesses, Non-Profit business: This is a type of business with charitable or educational goal rather than earning money from its services.

What is accounting ?

In financial transactions of business— the systematic recording, reporting, and analysis are termed as accounting. It is a system that is used to measure business activities, process information and help aid in making relevant business-related decisions. Usually, accounting is referred to as the ‘language of business’, hence the better the understanding of language— better are the decisions made. The basic accounting terms include terms like revenues, liabilities, assets, expenses, balance sheet

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