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nyheder fra iEDI

iEDI

Copenhagen

15/08/2024

How EDI Makes Sending Invoices Easier

- An Insight into Efficiency and Environmental Friendliness

When it comes to sending invoices, EDI (electronic data interchange) can significantly simplify and streamline the process. Let's start by looking at a customer case that shows just how much time can be saved.

Customer Testimonial

One of our customers receives numerous invoices daily from both large and small suppliers. It used to take a long time to review each invoice to ensure everything was in order. However, with EDI, they can now automatically reject invoices that do not comply with their business rules (e.g., missing PO numbers). This has saved them approximately 8 hours per week on manual corrections, email correspondence, and double-checking. This is just one example of how EDI can deliver significant efficiency gains for you.

Want to hear about more benefits of EDI? Then read on (JACKPOT!).

Environmental Friendliness

We start with a point that concerns us all: the environment. Switching to electronic invoicing with EDI means a significant reduction in paper consumption. Did you know that it takes a whole tree to produce about 25,000 sheets of A4 paper? Imagine how many trees your company can save by switching to electronic invoicing! If you have already taken initiatives to reduce paper consumption, please share your experiences with us.

Automation

EDI systems can automatically generate and send invoices directly from the company's financial system. This minimizes the need for manual entry and effectively reduces the risk of errors. Automation also frees up more of the employees' time so they can focus on more meaningful tasks, which our statistics show can improve job satisfaction and productivity. And who wouldn't want to retain their fantastic employees by providing them with good working conditions?

Standardization

EDI uses standardized formats like EDIFACT, XML, and UBL, ensuring that all parties understand the documents. But EDI is also flexible and can handle non-standard formats. This way, your company can collaborate with a wide range of partners without worrying about formats.

Accuracy and Traceability

Less manual intervention means fewer errors. EDI systems have built-in validation and control, ensuring that all necessary data is correct and complete before the invoice is sent. Once your invoice is sent, it can be tracked from dispatch to receipt, giving you better oversight and control over the invoicing process. Direct connections between systems allow you to follow the documents' journey in real time.

Integration with ERP Systems

EDI can integrate with the company's existing ERP system, enabling automatic updating of financial data and inventory management. This ensures that all data is synchronized and up-to-date, improving overall financial management.

Compliance with Legal Requirements

Many countries require electronic invoicing for public institutions. EDI ensures that your company complies with these legal requirements, preventing potential legal issues and fines. Now that you're saving money by not entering and double-checking manually, it would be a waste to spend that money on fines.

Do you also want to experience the benefits of EDI? Contact us today to learn more about how we can help your company optimize the invoicing process.