Global fintech firm Basware‘s enhancements to Basware PDF e-Invoice should help companies both accelerate and simplify e-invoice processing while requiring fewer resources to integrate with existing billing systems, company officials believe.
The average processing time for an e-invoice is 10 days, compared to 55 for a paper invoice. This is a major reason behind the adoption of e-invoice capability.
“Processes such as invoicing must be as efficient as possible in order to allow the business to focus on strategic priorities,” Basware SVP of Purchase to Pay Ilari Nurmi said.
“The benefits of e-invoicing are clear. It speeds up the invoice approval process and reduces the resources organizations need to invest in their payment processes, creating opportunities for early payment and invoice financing.”
Basware PDF e-Invoice works within existing processes. This ensures the invoice is delivered in the proper format while increasing efficiency through multiple process automation. Line items can also be listed within an invoice, added detail which is important when invoices must be cleared through multiple departments and officials.