e-invoicing
Electronic invoicing (e-invoicing) is the issuing of invoices by email directly to your customer. It is also referred to as Electronic Invoice Presentment and Payment (EIPP). Electronic commerce has grown rapidly in recent years, which has resulted in increasing numbers of businesses involved in e-commerce (ordering and paying online).
The benefits of using electronic invoicing are:
- helps retrieve money more quickly by reducing the amount of time wasted whilst your invoice is in the post
- reduced print and postage costs
- reduced requirement for sending out copy invoices (as they are sent directly to the customer's inbox) and time delays are minimised (as copies can be resent and received immediately)
- the sooner your customer receives your invoice, the earlier they can alert you to any concerns.
To issue your invoices electronically, contact your customers to ensure that they are able to receive communication by this means. For new customers ensure this is stated in your terms and conditions. Also verify the correct email address for the person responsible for making payments. Print off and keep a hard copy of all invoices sent electronically as a back up.
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