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SoftCo E-invoicing

Making the switch Easy

E-invoicing, or electronic invoicing, refers to the exchange of procurement related documents, such as PO’s and invoices, between a supplier and a buyer in a digital format. PO’s are issued via an e-Invoicing platform or network, which acts as an intermediary to ensure secure and reliable transmission. Examples of such platforms include PEPPOL. Meanwhile, invoices are issued, transmitted, and received in a structured data format, allowing for automatic and electronic processing without manual intervention. 

This structure enables the data from the supplier’s invoice to be automatically imported into the SoftCoAI+ platform, removing the need for capture technology, further streamlining the process and reducing costs. 

SoftCoAP receives E-invoices that are transmitted via specialized networks (VAN and Peppol Access Point), ensuring secure and standardized delivery of electronic invoicing and related data. All standardized formats such as Peppol 3.0/UBL, EDI (X12/EDIFACT), and country specific (Teapps/Finvoice) formats can be processed through SoftCoAP, while SoftCo’s eProcurement module securely and efficiently transmits PO’s. 

E-invoicing offers a multitude of advantages for both vendors and buyers, driving significant improvements in efficiency, cost savings, and compliance.

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E-invoicing

How E-invoicing works

Direct Integration
Dedicated Portals
Data Capture Solutions
Global Compliance Support
Cost Reduction

E-invoicing eliminates the need for paper, printing, manual fulfilment, and postage. It further reduces the average cost per invoice, enabling savings on operational expenses. According to “The e-invoicing journey 2019-2025” from Billentis “Compared to conventional paper invoice processing, the automated e-invoicing will result in cost savings of 60-80% in most cases,”.

Increased Efficiency

E-Invoicing in tandem with SoftCoAP removes manual intervention, reducing processing time and errors. This leads to faster invoice approvals and payments, enhancing cash flow management

Compliance and Security

E-invoicing helps organizations comply with various country-specific tax regulations and mandates, such as VAT. It also removes the potential for fraud and human error, thanks to enhanced internal controls and secure data transmission.

Global Trade Facilitation

By digitizing invoice processes, businesses can engage in faster, easier, and more secure global trade. E-invoicing networks connect businesses, suppliers, and financial institutions, ensuring that invoices meet all regulatory requirements and facilitating smooth cross-border transactions.

Supplier Relationships

Improved processing times and transparency into invoice status strengthen relationships with suppliers. This visibility allows for better communication and coordination, fostering a healthier supply chain.

Strategic Insights

E-invoicing provides 100% transaction and spend visibility, offering valuable data for better financial oversight and analysis. This enables finance and procurement leaders to gain strategic insights and make informed decisions to optimize spending.

Scalability

E-invoicing solutions allow businesses to scale their operations more efficiently, improving the productivity of the AP department.

Global Compliance

E-invoicing ensures global regulatory compliance with worldwide invoicing mandates.

Interconnected Networks

E-invoicing networks integrate with existing solutions, bundling all invoicing flows into a single focus point. This supports compliance and streamlines format conversions, enabling global reporting analytics.

Compliant Archiving

Having a solid archiving compliance strategy is crucial for tax compliance. SoftCo Compliant Archive ensures that relevant documents are archived electronically as required by local regulations.

finnish government
Finnish Government

SoftCo have processed c.€250bn and almost 10 million e-Invoice documents for the Finnish Government since 2018.

E-INVOICES TO DATE

c. 10 Million

FORMATS

PEPPOL, Teapps, finvoice

DOCUMENT TYPES

PO’s & Invoices

The Finnish Government, a pioneer in digital transformation, sought to enhance their procurement and invoicing processes by adopting a comprehensive e-Invoicing solution. The goal was to streamline financial operations, ensure compliance with international standards, and improve overall efficiency.

Peppol au Luxembourg  

JJ foodservice
Sustainability Impact

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SoftCo E-Invoicing Today!

Transform your invoicing process and reap the benefits of e-invoicing with SoftCo.
Contact us to learn more about our comprehensive e-invoicing solutions and how they can
streamline your operations, ensure compliance, and drive cost savings.