on 04 Apr 2017 11:25 AM
With e-invoicing now a commodity, there is no reason for a company to stay locked into using the same service forever. In this dynamic market, there are numerous solid reasons why a company should look into trying something new. In this article, we have summarized the main reasons why it would be beneficial for you to at least entertain the thought of making a switch!
A need to streamline services
There is now a huge push for companies to cut down on the amount of providers they use, with the aim being to consolidate functionalities within one accessible interface. Newer technologies are more focused on providing umbrella solutions that function well in the ever-growing multi-channel business environment, and e-invoicing is a main target of these technologies.
Larger focus on global business expansion
Companies are now not just focused on gaining local and national business territory, but also on expanding on an international, global level. Therefore, any software used needs to be able to follow suit. There is also a considerable need for enhanced functionalities, especially with the establishment of new business channels. This requires e-invoicing solutions to be more adaptable and flexible. The deployment of the CHORUS platform in the French public sector and other worldwide B2G e-invoicing requirements are also pushing businesses to seek out new systems.
Customer dissatisfaction at play
With the amount of mature solutions that are available on the market, a lack in customer service and responsiveness no longer needs to be tolerated. If an existing e-invoicing solution cannot be adapted efficiently to a growing business, or if the terms of the SLA are creating conflict on a contractual or commercial basis, customers now have the ability to look elsewhere for something that works better for them.
The trials of an outdated or failing system
As with any type of software, if it isn’t maintained correctly, it will quickly become outdated. Older e-invoicing systems may not have the flexibility of being updated on a regular basis, and maintenance contracts may expire without further enhancements. Providers may disappear from the market, or be acquired by other companies, leaving their customers with outdated software and little to no support. These systems will often end up costing more in the long term than integrating a newer SaaS e-invoicing solution will.
A drive to reduce costs
As we all know, a lot of decision-making comes down to price. Any company is going to look at how they can reduce costs, especially when it comes to the maintenance of systems. With so many more solutions being offered as SaaS, and given a lack of competitiveness in a current provider’s pricing, companies will be quick to look elsewhere for an e-invoicing solution that is more adaptable and competitive. Basically, there are now more functional and cost-effective SaaS solutions available.
The question of rapid deployment
A system overhaul used to come with months of deployment worries, but nowadays e-invoicing providers can offer rapid enrollment and deployment solutions. On top of this, they can also provide expanded global coverage, ways to integrate internally and externally with other solutions or technologies, and minimal or even zero downtime and training.
Older, inflexible systems may not be able to keep up with national and international compliance and audit requirements, which is increasingly important now that more governments are moving towards compulsory e-billing and e-invoicing laws. RGS 2 electronic certificates and electronic audit trails are now the norm rather than the exception, and systems need to be able to integrate these. Digital safes must also follow specific country laws, and be able to adapt to international laws if necessary.
Software migration is no longer a necessity
There is no longer a need for a bulky internal system. E-invoicing providers are offering easy-to-install and accessible SaaS solutions. These solutions also provide innovative functionalities such as portals, digital archiving services, electronic asset-management systems, etc. Basically, the advantages of changing e-invoicing providers don’t just affect the way a company runs today, but also tomorrow.
Now is the time to look at the advantages that your current e-invoicing client provides, and to compare them with what the market has to offer you. This market is absolutely booming and everyone should take advantage of the innovative solutions and lower costs that come with it!
For more information on the exciting developments in the e-invoicing market, head over here!