June 9, 2015

What is E Invoicing?

Electronic invoicing, according to the European Commission is “electronic transfer of invoicing information (billing and payment) between business partners (supplier and buyer).

E InvoiceWhat may sound complicated at first is in-fact very straight-forward: The implementation of e invoicing into your business only requires minor changes in your invoicing process.

The main difference with e invoicing is that invoices will transferred digitally as opposed to sending them by postal mail.

The supplier or buyer can continue creating invoices as usual.

In a typical electronic invoicing process, the actual invoice file is sent to an electronic invoicing service provider over the internet, via email. The service provider converts and subsequently dispatches the invoice.

For the supplier and buyer, using electronic invoicing has various benefits:

* Considerable time savings due to being able to cut-out the running times of postal email

* Cost savings since e-invoicing can help to save on postal mailing charges

* Further cost savings due to not needing staff to operate a mail room as is often the case with traditional invoicing

* It helps to avoid problems due to losing invoices in the mail

The switch to electronic invoicing does not require any particular knowledge, new equipment or any other type of investment. This makes it an attractive option for all businesses that want to save more time and costs.

HSBC Plans To Cut 8000 UK Jobs

hsbc-bankIn an attempt to cut costs, Europe’s biggest bank HSBC wants to cut 8,000 jobs in the United Kingdom.

The job cuts will be across the bank’s retail and investment operations.

In a public statement, HSBC’s CEO Stuart Gulliver was quoted saying that the jobs would go by what he calls “natural attrition”.

It is expected that the cuts will affect about 25,000 jobs in total.

It was also announced that the bank plans to rebrand its High Street branches although they are still deciding on a new name.

According to the bank’s CEO they want to make sure that customers can make a distinction between the bank’s retail and investment branches.