Imagine you are standing in front of a high mountain that you want to climb. You know that it is a challenge, but also an opportunity to gain a new perspective and improve your skills. You also know that you are not alone, but that there are many others with the same goal.
It's a similar story with the e-invoicing obligation, which will apply to all domestic companies from 2025. It is a legal requirement that you must comply with, but also an opportunity to digitize and optimize your accounting system. You are not the only one who has to prepare for this, but part of a global trend that is shaping the future of business transactions
However, as with any mountain tour, you also need good equipment, a clear route and an experienced guide for the e-billing changeover. In this blog post, we give you some smart tips on how you can prepare for the e-billing obligation and what benefits you can achieve as a result.
What is an e-bill and why is it important?
An e-invoice is an invoice that is created, transmitted and received in a standardized electronic format. It contains the same information as a conventional paper invoice, but in a machine-readable form. This means that it can be automatically processed, checked and archived without the need for manual intervention or media breaks.
E-invoices are important because they offer many advantages for billers and bill recipients, such as
- Faster payment processing and liquidity
- Reduction of paper consumption and printing costs
- Improving data quality and transparency
- Increased security and data protection
- Simplification of compliance and tax audits
E-invoices are also important because they facilitate international trade and increase the competitiveness of companies. Many countries have already introduced mandatory e-invoicing or are planning to do so in the near future. Those who prepare for this now are therefore not only compliant with the law, but also fit for the future.
How can you prepare for the e-invoicing obligation?
The changeover to mandatory e-invoicing is no walk in the park, but requires careful planning and implementation. Not only do you need to create the technical prerequisites, but you also need to adapt your internal processes and train your employees. Here are some steps you should consider:
- Analyze your current invoicing process and identify potential for improvement
- Choose a suitable e-invoice format that complies with legal requirements and is compatible with your business partners
- Decide how you want to send and receive e-invoices, e.g. by e-mail, web portal or electronic interface
- Implement a software solution that supports the creation, sending, receiving and processing of e-invoices
- Test the functionality and security of your e-invoicing solution
- Communicate the switch to mandatory e-invoicing to your business partners and customers and ask for their consent
- Train your employees in the use of the e-invoicing solution and clarify any unanswered questions
- Start the e-invoice changeover step by step and monitor its success
How can you benefit from the e-invoicing obligation?
The switch to mandatory e-invoicing is not just a chore, but also an opportunity to design and optimize your digital workplace. With a smart e-invoicing solution, you can not only save time and money, but also increase your process efficiency and customer satisfaction. You can also benefit from the following advantages:
- You can create, send, receive and manage your invoices anytime and anywhere, regardless of location and device
- You can integrate your invoices seamlessly into your existing systems, e.g. your accounting, ERP or CRM software
- You can analyze your invoices with artificial intelligence and machine learning and gain valuable insights for your business
- You can secure your invoices with blockchain technology and increase the trustworthiness and traceability of your transactions
- You can link your invoices to innovative payment methods, e.g. cryptocurrencies, e-wallets or QR codes
In short, with a smart e-invoicing solution, you can take your digital workplace to the top of the mountain and enjoy the prospect of a successful future.
How can we help you?
We at PASSION4IT GmbH are your competent partner for e-invoice conversion. We offer you individual advice and a comprehensive service. We accompany you from the analysis and implementation to the operation of your e-invoicing solution. We ensure that you meet the legal requirements, optimize your processes and benefit from the advantages of e-invoicing.
If you would like to find out more about how we can help you design and optimize your digital workplace, contact us today. We offer a free strategy meeting to discuss your needs and goals and propose a customized solution. We look forward to hearing from you at: https://meetings.hubspot.com/andreas-hackl/digitalwork