The state of e-invoicing in AUS and NZ

E-invoicing has taken off in countries around the world. Here in Australia and New Zealand, e-invoicing is still in its infancy, but steadily gaining momentum. What is e-invoicing? E-invoicing enables organisations to send and receive invoices electronically, directly to and from their software. It removes the need for unnecessary data entry and inaccurate OCR scanning. [...]

Why finance needs to become friends with technology

Finance teams constantly find themselves battling things like: a need to reduce costs greater workload with the same amount of staff manual processes, which often lead to errors and disparate sources of data, making it hard to find information when they need it. The good news is that technology can improve these issues. And that’s [...]

When is the right time to implement e-invoicing?

E-invoicing lets companies exchange invoices electronically, directly to and from their software. It removes the need for unnecessary data entry and inaccurate OCR scanning. Businesses are increasingly adopting e-invoicing to: reduce costs involved in processing invoices process invoices faster make faster payments reduce data entry errors move to a more secure way of exchanging invoices. [...]

The benefits of e-invoicing for businesses: An infographic

E-invoicing automates the exchange of invoices directly between businesses’ software and its use is growing across the globe as a result of the benefits it brings. Australia and New Zealand have joined forces to to make trans-tasman e-invoicing easier using the internationally-adopted Peppol e-invoicing framework. Any business within this network can now send and receive [...]

Portal to integration: Why switch?

Suppliers have two main ways to comply with their retailers’ EDI requirements: EDI webforms (web portal-based EDI) or integrated EDI. Portal or web-based EDI is often the go-to choice for suppliers just starting out. EDI web portals They’re usually easy to setup and simply use a web browser to send messages to your retailers. The [...]

The benefits of EDI: an infographic

Electronic data interchange, or EDI, is widely adopted around the world by companies looking to gain efficiencies, visibility and cost savings. But if you’re new to the concept, it can seem overwhelming. Simply put, EDI (electronic data interchange) is the exchange of business information directly between business software. Think of a purchase order being created [...]

EDI for suppliers: What option is best for my business?

Picking up a new retail client can be such an exciting time. But some of their requirements can seem daunting when you’re facing them for the first time. One of the things retailers often ask is for their suppliers to trade with them via electronic data interchange, or EDI. What is EDI? EDI is the [...]

Costs of manual vs EDI procurement: A comparison

Placing orders Think of a company that issues thousands of purchase orders a month. They’ll likely receive at least one invoice for every purchase order issued. Let’s look at the process for this simple scenario: Buyer manually enters the purchase order in their software Buyer sends order to supplier via email Supplier manually enters the [...]

EDI more than just automating your supply chain.

Looking for ways to improve processes is critical to any business, particularly in the areas of efficiency and cost reduction. Electronic Data Interchange (EDI) allows the exchange of business information directly between the software of your business and your customers and suppliers. It automates unnecessary manual processes while streamlining supply chain transactions. Companies commonly implement [...]

The key to efficient transport bookings and deliveries

When it comes to EDI, a lot of us think about procurement-related messages – orders, invoices and sometimes even product data. But I’d like to shift your thoughts to another use for EDI… transport messages.

As a consumer yourself, you’ve probably received notifications when your shipment has left the warehouse, when it’s about to be delivered and even when it’s been delivered. In the B2B world though, things are quite different.

3 ways to slash your Days Sales Outstanding

Cash may be king, but almost every business faced the issue of extending their clients’ credit, especially in B2B situations. Recent low inflation and interest rates have made it easy for many businesses to ignore the true cost of extending trade credit to clients.

Read our three tips to slash your Days Sales Outstanding.