Electronic invoices exchange - e-invoicing

Electronic invoices exchange - e-invoicing is the process of exchanging electronic invoices using internet as well as an application for managing the documents to be sent or received. The benefits of the electronic invoices exchange are:

• Elimination of the manual invoice processing and the possible errors deriving from this process saves time and reduces expenses
• Better payment reconciliation
• Faster receiving process of products at warehouse or store level
• Better inventory control
• On time update of inventory levels
• Optimal control of stock replenishment in warehouses
• Better human/material resources management
• Consumables cost is reduced (paper, ink cartridges etc.)

Under the ministerial decision of the ministry of finance on March 2006, in Greece for electronic invoicing - e-invoicing, invoices can be fully dematerialized. This means that all Greek businesses can replace physical paper invoices with electronic invoices. The exchange of electronic invoices will help them to:

• Automate archiving. Physical archiving can be eliminated progressively and replaced by electronic archiving
• Reduce significantly physical storage areas for paper invoices
• Elimination of printing, enveloping and postal services expenses
• Better and easier management of invoices
• Facilitate and streamline transactions with public bodies.