Streamline and Automate Payment Process for your Business Organizations

Processing payments is one of the most expensive and time-consuming tasks for most companies. A good payment processing platform provides entirely digitized automation that facilitates your daily processing activities and gives your company an immediate boost in productivity.

Limitations of Managing Manual Invoices and Payments

• Entering incorrect details on the payment field or misplacing the invoice
• Duplication of payments and overpayments
• Lacking the visibility to see a timely picture of the company’s cash flow and performance due to slow invoices and payments processing which are not updated in real-time
• The accounting system does not show notifications, confirmations, or reminders when payment is received

Streamlined payments start with automated invoices. Automatic billing ensures accurate invoices and scalable processes. Automation and digitalization will accelerate invoice creation and distribution; hence, invoices can be received and processed faster. Immediate delivery of the invoices shortens the time for payment and thus improves the company’s cash flow. Efficiency will also be increased as automated invoicing processes reduces human error and time and, at the same time, increase accuracy.

E-invoicing with InvoiceNow

With the collaboration with IMDA, InvoiceNow is an e-invoicing method that enables the direct sending and receiving of digital invoices between suppliers and customers. Unlike traditional paper invoices, e-invoices are sent via the PEPPOL network and help companies enjoy smoother invoicing, faster payments, and a better way to save the environment. Once you create an invoice in your cloud-based software and send it with InvoiceNow, your invoice will be sent directly via a secure network to your client’s accounting system. This helps shorten your invoicing processing time and allows your business to get paid faster without any manual paperwork.

Read more about InvoiceNow here: https://www.imda.gov.sg/programme-listing/nationwide-e-invoicing-framework/InvoiceNow

Xero has the answer for you! Send and receive e-invoice with Invoicenow on Xero!

Xero, a cloud-based accounting software, is ready for e-invoicing using InvoiceNow! With Xero, our clients can integrate their accounting with e-commerce, payment, and CRM solutions as they grow. Upon receiving e-invoices, Xero can manage approved e-invoices, allowing for seamless and automated transitions into the accounting software. Companies can now enjoy the wealth of benefits of e-invoicing, including a lesser chance of misplacing the invoices, avoiding error-prone manual data entry, easy storage and retrieval online, faster invoice payments and improved cash flow!

There are also many third-party applications on the Xero marketplace that can help your business process payments seamlessly. Business owners can get paid sooner by accepting payments from online payment services like PayPal and Stripe. Stripe, a third-party app that can be integrated into Xero, allows more new avenues for receiving payments and receives faster payment. The application reduces the time consumed by accountants and provides more accuracy when preparing monthly accounts and budgets. Autopay on Stripe helps to collect outstanding payments and recurring invoices automatically. It can easily reconcile payments by accepting debit or credit payments on invoices from clients based all over the world!

Singapore Corporate Services (SCS) is a Peppol-Ready Solution Provider!

SCS is one of the PEPPOL-Ready Accounting Providers listed on the IMDA website. We instil our clients with cloud accounting solutions to digitalize their accounting needs. With PEPPOL Ready Solutions in place, we help our clients simplify their accounting workloads by streamlining and automating their payment processes. Business owners can now send and receive e-invoices through the Peppol network to enjoy smoother and faster payments.

You may find more information on our Company’s Peppol-Ready Solution here:

Peppol-Ready Accounting/ERP Solution Providers – Infocomm Media Development Authority (imda.gov.sg)

Contact us now for a free non-obligatory consultation to find out how you can streamline and automate your business operations and payment processes to enhance your accounting experience!

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