Jeremy Ferrer
Webinar :
Cross-border Purchases and VAT: Optimization Strategies
Tuesday Sept. 10, 2024 at 11 am (France)
You've probably already heard of software for invoices. Any business, whether small or large, and regardless of its sector of activity, cannot do without the billing stage. A time-consuming and tedious task, which is nevertheless necessary, the invoice management should be done with great care and on a regular basis. However, invoicing is not a task that brings added value to the business. On the contrary, it takes up time that could be spent on productivity. The fact that you can deliver purchase invoices in due form to your suppliers, however, reflects your professionalism, because these documents are standardized and must be published within the framework of well-defined regulations. In order to allow you to save time and focus on your core business, tools for dematerializing invoice management, better known as invoicing software, were born. In the following paragraphs, we will take a close look at what this type of tool is needed to automate billing, how it works and what are the benefits of installing it. We will also explain its advantages and limitations before mentioning the various criteria to consider when choosing an invoicing software.
As its name suggests, software for the management of purchase invoices is a tool that you can install on your computer or use online to facilitate the editing of the various invoices that a company must prepare. However, that is not its only role. This software can also perform other tasks such as sending invoices to customers, archiving them, routing them to the appropriate signatories, etc. This type of tool is generally used by the accounting department.
The objective of a tool for invoice management is the automation of the entire billing process. He will manage this document from the beginning to the end of the process, i.e. from data collection to archiving the document. It also ensures that invoices are issued in accordance with the law and regulations in force concerning business accounting.
Thanks to software from Demat supplier invoice, you can digitally edit your invoices, which are sometimes difficult to write by hand. The good thing about this tool is that once you have entered your company's legal notices, which should appear on all your invoices, it will automatically generate them each time you edit purchase invoices or supplier invoices.
The accounting software or Invoice software also has the function of establishing customer files based on the data you enter into the tool in order to ensure better monitoring of your wallet. This allows you to have a good traceability of the products as well as the services you have provided. This task is essential for the future recovery of your customers. The tool also gives you an overview of unpaid invoices in order to manage them more easily.
In a company, after-sales service is an essential step in guaranteeing customer satisfaction. It plays an important role in a company's reputation. The functionalities of the software of invoice management allow you to perform this task more easily and quickly.
In the age of digitalization, the use of software for purchase invoices can only be beneficial for a company in order to optimize its productivity. Here are some of the benefits that can be gained from this practice.
The number of invoices a business has to deal with every day can be incalculable. However, when the procedure follows the traditional route, it can take a long time before the company can collect or process the payment. Thanks to invoicing software, it is possible to speed up this process and to respect payment deadlines, or even to complete it sooner.
This is the essence of digitization and dematerialization tools, such as the software of Demat supplier invoice, implemented within companies. The aim of these tools is to save time and money. Indeed, paperwork also has a cost. Thanks to the implementation of a billing management tool, you have the possibility to pre-design models that you can reuse each time. This saves you a considerable amount of time. The documents are dematerialized and the procedures are automated. Shipments are instant. What better way to save time! Finally, it is also possible to synchronize your Invoice software with that of your accounting for a better harmonization of the processing of information.
Billing management plays an important role in your cash flow. Generally, the software includes a reminder function in case it detects that an invoice has not yet been paid. This allows you to have an overview of the status of paid and unpaid invoices without having to send reminder emails each time to your customers. In addition, your problems of managing mountains of paperwork will be resolved. The invoicing software not only guarantees the compliance of your invoices with the regulations in force, but it also saves you from long procedures within the company.
In case you use a invoicing software online, know that you will benefit from better protection of your data. These will be more accessible and more secure. Simply sign in to your online account to access all the information you need. Even if your computer breaks down, you can still edit and archive your invoices.
Handling invoices manually can lead to errors. The advantage of using a digital publishing tool for supplier invoices is to prevent that from happening. Thanks to billing softwaren, all you have to do is enter all the mandatory information that should appear on the invoice once, save them, and then insert them whenever you need them. The risk of human error is reduced, but you also save time. These mentions include:
- The deferral of the applicable VAT rate
- Legal information concerning the customer, such as the company name, address or payment terms.
- The amounts due HT and TTC
- The application of a possible discount.
Automating this entire process allows you not to make unnecessary mistakes and avoid disputes with your customers. The invoicing software thus makes it possible to maintain a good relationship with them.
Being able to gather your customer data in one place can only be beneficial for your business. The management tool for purchase invoices allows you to do that. All the information concerning your customers, whether it is their company name, their contact details, their intra-community VAT number, is assembled in the tool and is accessible at any time, whenever you need it. It also gives you a general overview of the relationship you have with your customers in order to improve it.
Existing regulations relating to the billing process are sometimes complex. When you process invoices manually, it can be complicated to comply with these legal notices. By using a invoicing software, you are sure not to miss any legal obligation. The software is configured by its designer to provide you with the information you need to ensure the compliance of the documents. These legal obligations include compliance with the legal notices that must appear on invoices, compliance with the rules concerning the numbering of invoices as well as the classification of invoices.
By integrating a invoicing software in your activities, you improve the productivity of each member of your team. Indeed, they have more time, like you too, to focus on their core business. The tool allows you to set up recurring payments for your most loyal customers. Thanks to this, you no longer need to create invoices every time. No team member is required to do this anymore.
Since it is possible to connect the invoicing software to other software from the same department, this allows better management of your financial activities within the company. Your accountant will certainly need it during the tax period.
Of course, the management of supplier invoices using digital technology does not only have advantages. Finding the balance between the benefits you may have and the disadvantages that may present themselves allows you to better manage your payments and accounting activities.
Technology comes at a cost. Since it is not enough to set up the invoicing software and to use it, its installation can be a real obstacle course unless in your contract, it is stipulated that the software publisher takes care of the installation of the tool himself. The software must be integrated into the entire company computer network, which means that it must be adapted to it. This requires the use of a qualified technician. This can lead to additional costs for the business.
Machines are not like humans. They cannot correct themselves in case of bugs. They need to be repaired. However, this will generate additional costs, especially if the invoicing software is poorly done and keeps bugging. Thus, technical problems are also to be expected. You need to anticipate and find a way to gather all the data that has been stored in the interface in order to save them. Once again, the use of a technician specialized in the management of invoice management tools is indispensable. The recovery of all the data in the software must also be carried out in case the company decides to change the software.
We should also talk about the risks associated with the use of invoicing software online. The web is certainly a fantastic place that facilitates our daily life and our professional activities. However, the victims of malicious people on the web are numerous. However, the data stored in the database of a software supplier invoices are confidential and sensitive. Despite this, there are numerous platforms for publishing purchase invoices online that have good data protection. You have to know how to find them to avoid unpleasant surprises.
First of all, let's remember that using a invoicing software is not mandatory unless your business is subject to VAT. This means that you offer individuals goods or services that you deliver yourself. In this specific case, the tool you use must comply with the Anti-Fraud Act. Research well before choosing your software. Then, it must be recognized by the tax authorities in order to be used.
On the other hand, you are not affected by the Anti-Fraud Act in the event that:
- You sell products or services to professionals
- Your entity is a micro enterprise that enjoys a franchise based on VAT
- Your company benefits from the lump-sum agricultural reimbursement regime.
Some professionals or entrepreneurs are tempted to think that the use of software supplier invoices is not essential at the beginning of the business life cycle. However, you should know that the sooner you adopt this tool, the sooner you could benefit from its benefits. In addition, there are many types of invoice processing software depending on the size of your business.
The market is full of numerous software for the management of supplier invoices, that it is sometimes difficult to choose the one that suits your needs. Discover some essential criteria that allow you to choose the right billing software:
It all starts with your needs. It is important to identify them well before deciding on a invoicing software accurate. What activities are you developing on the market? Do you work in the sale of products or services? Do you need an invoicing or accounting tool? What is the size of your business? You should rely on the answers to these questions to make the right choice.
Free billing software is available on the Internet. However, most of them only offer basic features and require you to pay as soon as you want access to more advanced features. Investing in this type of tool will make you more productive. So, you might as well spend money on something complete and of high quality. However, make sure that the cost of the software in question does not exceed the budget you have already set for yourself. Feel free to compare offers.
These are essential criteria when choosing a invoicing software. It is possible that no member of your team has used this type of software before. So make sure that it is as ergonomic as possible. The interface should be easy to use. The various settings must be carried out easily. Also, make sure that the software has pre-designed templates that are ready to be used.
In terms of functionalities, these generally depend on the cost of the tool, but try to find the most complete software possible that can cover the management of customers, payments, purchase invoices unpaid as well as reminders. Also, opt for a tool that you can configure and customize to your heart's content.
The choice is crucial. Each of these tools has advantages and disadvantages. For example, an online tool is much more accessible. All you need is an internet connection to access it. Some designers develop applications that allow use on a mobile device, which is even more convenient. For its part, software that can be downloaded and installed has the advantage of being more secure.
This final step is very important. It is at the test level that you will be able to best know the tool in question. Test it out, see if it really meets your needs, if it's practical and easy to use, if it has the features you need.
In conclusion, the usefulness of billing software is well established in businesses. For all your needs of Type C procurement outsourcing, BME provides you with its know-how in this field and takes care of the entire billing process thanks to its invoice management software.
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