Maventa

Don’t know where to start with understanding the most important e-invoicing terms and concepts? Or just feel the need to brush up your knowledge? Don’t worry, we got you covered. We have put together a list of all the most important terms and concepts when it comes to electronic invoicing and electronic document exchange, read it from here 👉 https://lnkd.in/dpipjFVQ 

The festive season is here, and it’s time to let the holiday spirit shine bright! 🎁✨ Step away from the desk, embrace the warmth of family and friends, and savor the joy of the season. Leave your worries (and invoices) behind—Team Maventa has got you covered! Your invoices will continue to flow seamlessly as you revel in the season. Happy Holidays from Team Maventa! 💚

So, how does e-invoicing prevent late payments? Well, there are several reasons, but shortly: 1. Faster Delivery 🏃➡️ 2. Automated Processing ⚙️ 3. Instant Payment Reminders ⚡ 4. Better Cash Flow Management 💵 5. Improved Accuracy 🎯 6. Convenience for Customers 🌟 For a more detailed explanation for each reason, just check flick through the document below.

Want to get paid on time? Then the obvious option is to use e-invoicing. Visma’s Digitalisation Index report from 2019 shows that 90% of e-invoices are paid on time, compared to 72% of PDFs and 66% of paper invoices.

The VAT in the Digital Age (ViDA) is reshaping how businesses handle VAT compliance across the EU. For software providers, this is a golden opportunity to get ahead of the curve and start preparing now. Two key takeaways: 𝗘-𝗶𝗻𝘃𝗼𝗶𝗰𝗶𝗻𝗴: ViDA mandates the use of standardised, machine-readable e-invoicing formats. 𝗥𝗲𝗮𝗹-𝘁𝗶𝗺𝗲 𝗿𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴: Real-time VAT reporting requires businesses to submit VAT transaction data as it occurs. The regulatory deadlines are approaching fast, and e-invoicing will soon become mandatory for businesses across the EU, with different member states following one another. Read more how, as a software provider, you can prepare for ViDA: https://lnkd.in/d3_7bFHE

Invoice fraud is a threat to 44% of businesses, leading to average losses of $133,000 annually*! 😱💸 E-invoicing is done through service providers with onboarding processes, which has meant that it is more difficult to perform fraudulent activities compared to, for example, email and PDF invoices. Also, e-invoices make it easier to develop automated functionality for fraud detection, reporting and prevention. Like, for example, checking suppliers on different registers to avoid unnecessary risks, such as fraudulent invoices ending up in payment. *based on Medius, The Financial Professional Census Report 2024

Don’t get fooled by e-invoice look-alikes! 🙅 Not everything digital qualifies as an e-invoice. While a JPG, PDF, or a scanned paper document might be digital, they don’t meet the regulatory and industry standards required of a true e-invoice. True e-invoices follow a standardised, machine-readable format, ensuring seamless delivery from sender to receiver without manual intervention. This precision makes them efficient and reliable. Want to read more about what e-invoicing actually is? Read here: https://lnkd.in/dpxBw3dz

How can you make sure of the security of your invoicing process? 🤔 Switch to e-invoicing 💫 It’s easier for physical invoices to be intercepted or altered during transit, leading to costly errors. E-invoicing increases security by ensuring that every transaction is traceable and transparent, reducing the risk of lost invoices or unauthorised data access. With e-invoicing, each step in the transaction process is secured against modification and unauthorised viewing. Why gamble with risk when you can bank on security? 🎲🔒

Are you a forerunner? Only 21% of SMEs in Belgium use e-invoicing for both sending and receiving. Are you one of them? Read more about the current e-invoicing landscape in Belgium from here: https://lnkd.in/gXk9H-GK

SMEs in the Swedish, Belgian and Netherlands markets are experiencing a knowledge gap about e-invoicing. The lack of understanding of benefits and implementation of e-invoicing was reported to be one of the leading barriers to e-invoicing adoption by SMEs in the markets. Educational and support efforts could make SMEs more knowledgeable and comfortable with e-invoicing leading to an increase in the adoption rates of e-invoicing. Download our reports for a more in-depth exploration. Sweden market report 👉 https://lnkd.in/gSpbEER4 Belgium marker report 👉 https://lnkd.in/gXk9H-GK Netherlands market report 👉 https://lnkd.in/g-yvccCt