Useful benefits
Why electronic invoicing is good for your business
e-invoicing brings you a range of business benefits, including:
- Reduced costs |
- Real-time data delivery |
- Eliminated errors and bottlenecks |
- VAT compliance |
- Environmental responsibility |
- Inherent security |
- Accurate management information |
- International reach |
Reduced costs
How much money does your business spends on postage for purchase orders and invoices? And how much time is spent completing data entry for invoicing and chasing invoicing issues? You could save time and reduce costs with NatWest e-invoicing.
Real-time data delivery
Introduce strategies for boosting key financial measures, such as day's sales outstanding and optimise your invoicing costs.
Eliminated errors and bottlenecks
For many businesses, 20 per cent of invoices generate 80 per cent of the overall cost of processing. Straight-through processing reduces manual errors and costs, and can even automatically manage issues such as invoices received with their purchase order numbers missing.
VAT compliance
Rest assured that all local and crossborder transactions made through the NatWest e-invoicing service comply with EU VAT Directive (2001/115/EU), which controls how businesses send and receive fiscal documents electronically. To make sure that we are always up to date with changes in such regulations, we participate in key industry working groups.
Environmental responsibility
There's no need to waste energy and resources by printing, sending, storing and destroying paper. e-invoicing can play a part in reducing your carbon footprint and the environmental impact of your business.
Inherent security
Our service adopts the security protocol used by other banking services such as BACS and CHAPS payments. It relies on digital signatures, which enable you to guarantee that a file has not changed since it was sent, as well as identifying who in fact sent it. This peace of mind comes as standard with the service.
Accurate management information
By gaining an immediate view of outstanding payables or receivables, you get a true snapshot of your business, and you can use this information to help plan your cash-flow.
International reach
Today, the service is available to your subsidiaries and trading partners in the United Kingdom, Belgium, Spain and Switzerland. The service will be available in more countries across Europe soon.
Introducing e-invoicing
Find out how e-invoicing can save your business time and money - watch the two minute tour