As a digital-minded freelancer, how do you send invoices? If it's still on paper, keep reading.
Although paper invoices still account for a majority of invoices in sheer volume, email has become a widely used channel for business to business transactions, according to the 2014 Order-to-Cash (O2C) Automation Study conducted by The Institute of Financial Operations (sponsored by Esker).
According to the survey, the percentage of companies committed to begin e-invoicing within 12 months more than doubled to 5 percent from 2 percent in 2013. Approximately 10 percent of respondents plan to automate order processing within six months, and 5 percent plan to make the conversion within 12 months.
“Accounts receivable begins with the taking of an order and ends with the application of a payment,” said Ken Brown, interim executive director of the IFO. “As a leading provider of benchmarking research in this field, we want to ensure that our annual survey aligns with the information needs of our members.”