Pan-European Public Procurement On-Line (PEPPOL) is a system that allows you to send invoices to your clients electronically, especially those in the public sector. It was mainly formulated for the European Union (EU) countries by the European Commission to ensure safe international transfers.
With its use across many countries, you need to adopt it in your business to transact easily. Read on to find out why else you need to implement PEPPOL in your operations.
1. Better Compliance
Using the internet to send and share documents is often scrutinized due to data security. In the event of cyberattacks or breaches, you could lose valuable data and make your clients vulnerable to security threats. However, you don’t need to worry about data security when using Peppol e-invoicing.
Peppol e-invoicing uses end-to-end encryption systems to safeguard data. Formulated for the EU countries means that they’re also GDPR compliant, adding to the security of your clients. In case of changes in any data protection laws, you can always re-program your system to adjust accordingly. Alternatively, you can upgrade to the latest version of Peppol, which will often have the changes in-built.
With Peppol, you don’t have to worry about your electronic invoice operations being non-compliant. Being compliant safeguards your business from penalties and clients as well.
2. Faster Service Delivery
Without utilizing Peppol e-invoicing, your team ends up consuming a lot of time preparing invoices and sending them to your clients.
In most cases, depending on the delivery options you use, it could take a day or two for your clients to get the invoice. Such a system lengthens the process and delays the time by which money is availed to your business for services you offer.
However, Peppol e invoicing speeds up the delivery process by almost twice the time you previously spent physically delivering your invoices. Your clients will almost get an instant invoice after service delivery electronically. This way, you’ll always get payments faster.
3. Increased Productivity
As stated herein, e-invoicing will do away with the manual handling of the invoice processes. This tool will allow your team to execute other crucial operations that need the human touch and bring in returns for your business, enhancing their productivity.
Since Peppol e-invoicing brings about automation in your operations, the execution rate increases too. As a result, more tasks will be done within a short period of time.
4. Reduced Costs
Peppol E-invoicing eliminates the need to acquire resources to enable you to generate invoices. These resources include but aren’t limited to printers and scanners, paper, and inks. Without you investing in these resources, you’ll have fewer operational costs.
Moreover, through the use of e-invoicing, you don’t need to include third parties in your invoice process, such as courier services that will do the delivery. Therefore, you won’t need to incur delivery charges, which will allow you to save money. You’ll only need to invest money in your internet provision.
5. Fewer Errors
Adopting electronic invoicing eliminates errors that arise due to manual handling. Your team won’t make errors during data entry and end up invoicing the wrong sum of money to your client or entering the wrong client address. These kinds of errors can be costly and lead to financial losses.
Peppol invoicing will handle everything digitally, guaranteeing all data is correct, from the generation to the second of the invoices.
6. Better Security
When you fail to use e-invoicing in your business, you’re putting your customers at risk. How? During the delivery process, especially where a third party is involved, someone might open up an invoice and get customer details or tamper with it without your knowledge. Invoices contain a lot of critical information regarding your clients. Should the data get into the wrong hands, your customers could be susceptible to fraud.
Furthermore, there’s a possibility of invoices getting lost during the delivery process, so your client will end up not receiving the document.
However, by utilizing electronic invoicing, you don’t have to worry about anyone tampering with the document or the document not reaching the client. The documents will be delivered safely.
7. Increased Customer Satisfaction
E-invoicing eliminates errors in the final document, making sure that the client gets the correct data at the right time. Because there are fewer errors, your clients will always be satisfied with your company’s operations.
But the same can’t be said when you end up having errors in your final document. There’ll be a lot of back-and-forth between you and your clients, which is undesirable. You might even end up losing customers since they’ll start questioning your transparency levels.
It’s worth adding Peppol e-invoicing to your business tech stack. For one thing, this system eliminates inefficiencies associated with the manual handling of the invoice process. So, if you want to run your business operations more efficiently, make the right decision to adopt Peppol e-invoicing.