In case you’re one of the few that hasn’t had to deal with e-invoices yet, or if you’re just getting started, here’s a quick primer: While e-invoices have all the same information as a paper invoice, you can’t create one just by saving an invoice in a digital format (such as a PDF); e-invoices contain structured data designed specifically for accounting and ERP systems. Read our blog post, What is electronic invoicing?, for more details.
Depending on the country, e-invoices might be the only legal way to invoice. But there are several additional reasons to embrace them — e-invoices enhance security, they can save businesses money on printing and postage, and they can even result in faster payments.
Those benefits come with additional risks, however. Different countries have different requirements, including real-time reporting mandates. Countries change their requirements from time to time too. And if you try to manage this all manually, you could give yourself a significant compliance headache.