As far as electronic invoice presentment and payment (EIPP) is concerned, an integrated yet configurable platform approach is the optimal solution.
Let’s face it, no one looks forward to receiving bills, but your customers do expect them. These essential communications provide your business with a captive audience – and many businesses aren’t taking full advantage of the value these documents provide. Taking into consideration what your customers want in regards to bills and other transactional communications could result not only happier customers but also increased business.
The benefits of electronic invoicing are still not fully realized by far too many US-based businesses. While e-invoicing is constantly evolving and is a wise business practice, many private enterprises are slow to adopt it. A recent study by the E-Invoicing Platform found invoices totaling over $1.2 trillion are currently outstanding in the US. With other
There are very few independent research studies on Enterprise-level Electronic Invoice Presentment and Payment (EIPP) that focus on North America. For that reason, CEDAR has sponsored an independent research study to uncover best practices for improved customer experience and communication throughout the invoice lifecycle. After the completion of the study and extensive analysis of the results, it was clear that there is significant room for improvement in the way enterprises communicate with their customers.
While there are many reasons to consider an e-invoicing solution, we see four main reasons why an EIPP (Electronic Invoice Presentment and Payment) solution should be one of your top priorities in 2013. The immediate and long term benefits that come from the implementation of an e-invoicing solution are proven and very hard to ignore.
Electronic Invoice Presentment and Payment (EIPP) offers organizations a simplified accounts payable process that can grow as your needs change. With maximum flexibility and choice, EIPP allows you to select the level of payment automation that is right for your organization from payment to processing to financing. But there's more!
As we've learned over the past two decades, the most disruptive change to happen in our day to day lives is our ability to communicate with one another. We are able to connect with people—and businesses— instantaneously at many different levels at a very low cost. So failure to take advantage of technologies to manage or enhance all aspects of the customer relationship is to disregard the powerful influence of the web and its distinct advantages in cost, speed and interaction over “snail mail” and paper invoices that require manual handling throughout the invoicing process.