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Monday September 27, 07:54
E-invoicing used by UK businesses

E-invoicing used by UK businesses (by Mark Riley) 

Electronic invoicing is the key-factor in increasing payment speed and reducing dispute resolution times, recent research showed.

This technology is really helpful in maintaining of cash-flow and improving operational efficiency. Today, firms turn to e-invoicing as well as Internet to increase efficiency.

Days Sales Outstanding times are also largely reduced with the help of e-invoicing to a shorter than 60 days period.
EU Directive issued in January 2004 is regulating e-invoicing as it has legal status now, and UK firms are required to retain invoices for 6 years in case of any problems.

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