In this fast-paced, modern generation, technology took a huge part in business environment and everything is processed rapidly and digitally. You will certainly “left behind” when you can’t follow up with these days trend. Changing your store into fully-integrated digital equipment will surely bring tremendous advantages and provide various competitive advantages for your business. Although applying digital equipment might add up to your capital, researches state that applying digital equipment will reduce your labor cost up to 55% and increase productivity significantly, hence proven to increase return on investment.
In this post, I will share with you the benefits of implementing digital invoice instead of manual invoice. Most of you might suggest that implementing digital invoice is an insignificant feature in business. However, I could assure you that applying digital invoice will bring various benefits and progressively increase your profitability.
What is digital invoice? Digital invoice is an invoice that is sent and received digitally or electronically, which eliminates the use of paper for invoice. Just like the paper invoice, digital invoice is a legal document that always includes invoice data and an invoice image. The invoice information is sent from invoice issuer (most likely seller) and received by invoice recipient’s (most likely customer).
Keep reading to perceive several benefits digital invoice provide.
1. Save the environment, save your money
Fun fact! In the year 2014, paper invoices are responsible for ten percent of all trees cut down worldwide! Also, creating paper invoices uses as much energy each year as the consumption of 20 million households. This number is crucial and with all the “heat” from global warming, switching to digital invoice sounds like the right thing to do.
The savings described above are not only good for the environment, it is also profitable for your balance as it reduce the cost of paper, it will reduce your overall cost. In theory, the cost for paper, envelopes and toner for invoice will be eliminated as well as transport cost spent sending the invoice. Digital invoice is sent by pressing a button and it costs almost nothing. The cumulative effect of removing millions of paper invoices is impactful and significant both to the environment and your money balance.
2. Rapid payment process
By using digital invoice, you will be able to speed up the actual time it takes from billing customers. The entire process of payment will be accelerated and you will end up with less time for processing invoice. Following the saying of “time is money”, an invoice tool removes days of invoice transit time by eliminating all unnecessary processes such as trip to the post office or nearby mail box and delivery time spent sending invoice to your customer.
Digital invoice instantaneously delivers an electronic invoice to the customer’s email. This reduces labor expense and the number of days saved, progressively raising profitability. Digital invoice is really helpful, especially for those business with accounts receivable processes where every day counts. Digital invoice in which promotes real time payments take those numerous days, that paper invoice would require, out of the equation.
3. Customer acquisition and retention
Customer loves the fact that you are tech savvy company that uses digital invoice instead of manual invoice. Implementing digital invoice will have better chance of attracting new customers and retaining others.
Applying digital invoice also includes the ability to attract global customers that like the fact that you can create and send invoices in their language, currency, and respective tax systems as well as accept international payments. The more customer you can acquire and retain, the more your profit will be.
4. Reduce human errors
Switching to digital invoice means that many aspects of invoicing process is done automatically with very-minimum-error-probability. Digital invoice prevents human errors that incrementally add to overall cost formula.
Digital invoice will also preserve time and money spent on resolving errors from manual digital invoice. Progressively, applying digital invoice for your business will boost your profitability by reducing tremendous cost due to errors.
5. Increase accuracy and validity
Digital invoice has upgraded into a more sophisticated and cutting-edge features. Capable to perform complex validations such as matching between an invoice and the related documents. The pricing and terms on an invoice should match those negotiated in the business contract. Furthermore, item quantities, product descriptions and per-unit pricing on the invoice must match those of the purchase order and actual goods received.
These matching and validation process can be performed manually. However it’s very costly, lack of accuracy and consumes more time. Progressively, this will costs more and reduce your profitability. Digital invoice can provide the same benefits with less cost, higher accuracy and faster time.
Designed as a world-class commerce platform, iSeller provides a built-in digital invoice feature called iSeller eReceipt, available for sellers at all plans! You can enable the feature easily, read further below.
How to enable iSeller eReceipt
Activating iSeller digital receipt is very simple. With just a few taps, you can activate iSeller digital receipt. Simply follow these steps to enable iSeller digital receipt for your store.
- Login to your store admin with your favorite browser, expand Settings buttons until various setting options is available, and your desktop screen will looks like this.
- Under the Settings button you will view several setting options. You can explore various setting options that can be used to maximize your business management. For now let’s focus on Point of Sale setting.
- After you click Point of Sale button, you will be directed to a list of your point of sale settings. Now scroll to the very bottom of your screen, and simply switch on the Enable iSeller eReceipt option.
If your switch is on the right and there’s color like above image, your iSeller eReceipt has been activated and eReceipt or digital receipt is ready to be sent to your customer.
As a note, you can customize various settings related to the eReceipt such as the header text, footer text, and link to your website and social media. It’s surely a great way to promote your products and services, and boost traffic to your brand.
Here’s an example of the iSeller eReceipt that will be sent to your customers, beautifully designed and optimized for both desktop and mobile clients.
We constantly add innovative features to make selling and managing your business easier than ever. In the latest update, iSeller now offers digital invoice (e-invoice) that is already known to yield tremendous benefits and progressively will boost your sales. Sign-in to your store and enjoy the new eReceipt feature now!