Most of us could really use a few more hours a day. We’re busy with various projects that demand our time and energy, and most of the time it just feels as when we’re finished with one project – we’ve got two new ones.
In 2013, the companies in InExchange Network saved a total of 395,893 working hours thanks to e-invoicing. That adds up to about 244 working years!
It takes approximately 97% less time to process an outgoing e-invoice and 94% less time to process an incoming e-invoice, compared to a paper based invoices.
The time saving is primarily due to the fact that all invoices sent through InExchange Network undergo a rigorous quality control, that results in a significant reduction in numbers of faulty invoices.
Another factor that contributes to the time saving, is that the e-invoices are sent straight to the recipient’s ERP. That means that the recipient does not have to manually enter the invoice information, which saves both time and money.
The biggest difference for the invoice sender is that he can avoid all unnecessary labour that usually occurs after printing the invoice. In addition, the decrease in number of faulty invoices saves a lot of time.
So, what would you do with your extra hours? Focus on new, more important tasks than paperwork? Learn something new? Increase the quality of your work by spending more time on your ongoing projects? Send all your messages handwritten on paper via snail mail instead of using e-mail?
Bruno Koch, E-Invoicing/E-Billing 2013, April 2013
The Organisation for Economic Co-operation and Development (OECD), http://stats.oecd.org (2014-02-12).
Statistiska Centralbyrån (SCB), http://scb.se, (2014-01-18).
InExchange, interna rapporter, från 2013 och 2014.
About the author:
Hanna Egilsdottir is the sales and market analyst at InExchange.