GAUGING THE MARKET
Such live reporting is simply not possible through paper invoicing .
E-invoicing can not only speed up tax audits but also reduce the frequency of them . This is because tax authorities can already validate transactions by carrying out checks on them at the time of the transaction . E-invoicing also provides auditors with direct and immediate access to invoice data . Businesses also have the same access as invoice information is digitally and securely stored and therefore ripe for data analytics and visualisation , providing insights .
What ’ s to come
E-invoicing has come a long way in the last decade , and it does not seem to be slowing down . As the landscape continues to move towards electronic invoicing , it is crucial that businesses stay ahead of the curve . In today ’ s age , businesses must be set up to harness the full potential of e-invoicing to guarantee and empower more successful and efficient processing practices . We ’ ve now reached a critical mass of e-invoicing mandates and new legislation paving the way for more , the direction of travel is clear . The volume of countries that are bringing in mandatory e-invoicing is so great that businesses now need to think globally and be scalable . � www . intelligentfin . tech
19