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 It is no more complex than it sounds.

Electronic invoicing is the exchange of the invoice document between supplier and buyer in an integrated electronic format.

Electronic Invoicing 
It’s no more complex than it sounds.

Electronic invoicing is the exchange of the invoice document between supplier and buyer in an integrated electronic format.

What is Electronic Invoicing?

Old school invoicing is manually time-consuming and prone to human error. This leads to inflated costs and processing life-cycles for companies. Consequently, modern businesses must have this option in their arsenal. Today’s customer requires flexibility in how they pay. Hence why we service electronic invoicing.

An electronic invoice should always contain data from the supplier in a format that can be entered (integrated) into the buyer’s Accounts Payable system without requiring any data input from the buyer’s AP administrator. This means that paper invoices sent via fax machine or scanned paper invoices or even invoices issued in Word or PDF formats don’t qualify as true electronic invoicing.

What are the advantages of Electronic Invoicing for your customers?

  • Convenience: Providing customers with a variety of payment types as well as the option of paying online gives them the power and autonomy to choose when, where, and how they pay.
  • Control of finances: Online payments allow consumers to pay all their bills in one convenient time of their own choosing. Plus, it can allow them the power to pay bills at the very last minute but still get them in on time.
  • Email reminders: This gives the consumers helpful notices reminding them of coming due payments or late payments. Plus, the “Pay Now” option streamlines the process even more.
  • Payment Flexibility: The ability to pay bills using debit, credit, and ACH options simplifies paying bills online.

What are the advantages of Electronic Invoicing for the merchant?

  • The invoice process is much simpler. You don’t have to wait for them to go out in the mail. Or wait in line to deposit the day’s checks. Invoices can go right to the customer’s in-box with one touch.
  • Can send multiple invoices in a small percentage of the time it would take to create and send a paper invoice.
  • No postage. The cost of mail/stamps is eliminated.
  • Electronic invoices leave an accessible “paper” trail. Easy for both you and the customer to trace.

Work With Bank of Merchant

At Bank of Merchant, we offer payment solutions that minimize work and accelerate the functioning of your business. With our payment processing, we provide Electronic Invoicing which dramatically eliminates busy work. It also frees you up to focus on parts of the business that deserve more attention. Electronic Invoicing is baked into our advanced payment processing. It will not only streamline your operation, but further endear you to your customers. After all, they want easy and convenient ways to pay. With us, you got ‘em!

Contact Bank of Merchant today and one of our expert agents will get you started!

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