This article will introduce the concept of #E-invoicing what it is and how it can play a crucial role in providing benefits to businesses that are ready to take the next step into the future.
A wave of digitization hit India in 2015 with the aim of increasing the ease of doing business and empowering the people with the power of technology.
India has embraced the digital India campaign with open arms but while completing the digitization process it is also important to give utmost importance to security.
With all the industries going digital cyber attacks have also become common and advanced it is important to safeguard your systems and documents from these attacks.
The solution for your security concerns is “E-invoicing” which as the name suggests is a substitute to the physical invoices. It is an invoice that is issued received and processed electronically. E-invoices have now become an industry standard for secure means of communication and exchanging vital documents. Simply put it is the modern way to manage invoicing or tax remittance for organizations and governments. Automating the process of writing invoices makes it next to impossible to fall prey to frauds.
Major benefits of E-Invoice
- Added security: Digital signatures add a security blanket making it highly improbable to forge.
- Reduced time: E-invoices reduce the time taken considerably granting peace of mind.
- Reduced costs: Studies suggest a reduction by 59 percent in costs by switching to E-invoicing.
- Reduced errors: Human errors are reduced considerably by choosing this automated process.
It is easy to get carried away with the benefits to the enterprise but one of the major advantages of switching to E-invoicing is the reduction in the carbon footprint generation associated with the paper based invoicing. E-invoices ensure business efficiency while staying environment friendly.
E-invoices can be customized to handle the complicated GST process automatically and assures security with the help of digital signatures. Of course it is nice to get documents to clients quicker than ever before but it is equally important for a business to be able to trust its authenticity. Digital signature as the name suggests is an electronic signature which serves the same purpose as a normal signature like authentication and verification.
Digital signatures primarily serve two important purposes
- It eliminates the time taken and the resources wasted in the physical process of signing and sending the documents.
- Ensures reliable authentication and validation for all three entities involved –the sender, the receiver and the message itself.
Businesses can specify their needs and the E-invoices can be customized to fulfill their requirements and work seamlessly with the existing systems. E-invoices can not only meet but also exceed expectations to deliver true automation. Better creation and tracking of documents to prepare your business for internal and external audits.
An E-invoice is as legally binding as a regular Invoice securing not only your documents but also the identity. It is a hassle free process in the midst of the modern communication tools. If used correctly digital signatures are completely encrypted, error proof and tamper-proof.
Aliter helps you implement E-invoices correctly with an impeccable track record while dealing with E-invoices and providing impenetrable security solutions to industries all over.