James Warner February 3, 2021 There is an infinite number of reasons for companies and organizations to use electronic invoicing rather than using paper documents, including preparing and maintaining compliance, signifying being agile to adapt or adjust quickly to changing and developing regulations, and overcoming manual errors. It would also be best to avoid overlooking reducing costs and promoting up end-to-end invoice statement processing.
Besides this, governments and various authorities are more and more progressively turning to automated or electronic invoicing as a crucial and essential component of the digitalization of tax. By lacking the digital submission of real-time tax information or data to tax authorities, governments can minimize or eliminate tax evasion and manipulation and diminishing fraud. Moreover, whether you are in the public or private sector, electronic, computerized, or automated invoicing is now expected and demanded in over 60 countries.
The Automated invoicing add-on research expands the invoicing or billing capabilities in Dynamics 365 Finance, Dynamics 365 Business Central, Dynamics 365 Supply Chain Management, and Dynamics 365 Project Operations to support companies organizations save money and decrease risk. The add-on elucidates and simplifies compliance’s adherence to the latest and the most advanced automated or electronic invoicing standards. Furthermore, it provides consistent and regular experiences in automated invoice processing and exchange across many distinct geographies.
The Automated invoicing add-on also incorporates or includes numerous out-of-the-box regional and country-specific clarifications/solutions. Through versatility in data transformation and interpreted configurable integrations, companies and organizations can utilize the Automated invoicing add-on to facilitate and allow automated invoicing processing universally. This automated invoicing add-on processing started in October 2020 and is now available for preview.
Automated or computerized invoicing brings together and collect all the configurable formats for transformations, modifications, and configurable integrations or combinations for connectivity. These capabilities of the automated invoicing system thereby provide an array of benefits and advantages:
- It involves faster, smooth, more comfortable, and more apparent selection or adoption to the region or country-specific conditions and requirements. (such as Brazilian and Mexican computerized or automated invoicing is completely configurable).
- It incorporates standardization of e-invoicing solution implementations.
- It allows enhanced and advanced e-invoice processing traceability.
- It helps in efficient and quicker maintenance to comply with changing and improving. legal obligations/requirements and local business practices.
- It includes a simplified and more rational solution packaging.
Electronic invoicing add-on capabilities include:
- Out-of-the-box integration with the assistance and support of Dynamics 365 Business Central, Dynamics 365 Finance and Operations, and Dynamics 365 Supply Chain Management.
- A seamless and smooth experience for electronic and automated invoicing process configuration and monitoring for all domains or countries.
- Configuration of automated invoicing service by Regulatory Configuration Services (RCS), an enhanced and improved advanced version of Electronic Reporting architect being a standalone service.
- Transformation and alterations of business and organization data into many different e-invoice formats such as CSV, XML, JSON, TXT, etc., managing and handling configurations illustrated in Regulatory Configuration Service.
- Configurable submission of e-invoices to all the external web services that include certification handling.
- Handling and managing responses from web services, such as configurable exception message handling, etc.
- Support and help in electronic or computerized signatures.
- Batch processing e-invoice reports or documents.
Automated invoicing is continuously monitoring and observing developments or evolutions in this domain and will increase capacities in core abilities of the global platform and implement automated invoicing statement capacities for more areas and countries.
Importance of Dynamics 365 Business Central:
- Move to the cloud quicker and with confidence.
- It opens up the opportunity to visualize productivity and business insights.
- Build and increase financial visibility and performance.
- Boost sales and enhance customer service.
- Complete and achieve projects on time and under budget.
- Upgrades inventory and supply chain management.
Also, by connecting and correlating your teams, and adopting a single solution that is Dynamics 365 Business Central, which implements or provides comprehensive business management is a must because of the various capabilities of Dynamics 365 BC that include.
Dynamics 365 BC makes sure about the business continuity with a cloud solution that connects and correlates service, sales, finance, and operations partners or teams to support them adapt quickly and achieve results.
Dynamics 365 Business Central Capabilities:
Change and modifies as the business grows-
- It carries your business on the go.
- It prefers a cloud or on-premises.
- It enables us to be ready for growth.
- It assists in storing and transferring data across all the systems.
- It helps in extending the solution with industry-specific applications.
- It customizes the software as per your needs.
Work more intelligently, efficiently, and quicker-
- It provides insights within the course of business.
- It helps in handling continuous process optimization.
- It assists in automate workflows and processes.
- It connects and compares your data with Microsoft 365.
- It also helps in responding to inquiries quickly and in a secure way.
Stimulate sales processes-
- It helps in prioritizing leads depending on revenue potential.
- It offers flexible pricing and discounting.
- It delivers on promised and guaranteed client outcomes.
- It helps in enhancing and improving cash management.
Address outstanding customer service-
- It makes sure a smooth transition from sales to service.
- It provides tracking customer returns, repairs, and replacements.
- It can easily live up to your service agreements or promises.
Streamline financial management-
- It takes management and control of financial data.
- It helps in expanding into global markets.
- It accelerates or quickens the financial closing and reporting.
- It monitors and controls all the financial performances.
- It helps in planning and making more profitable or effective financial decisions.
Promote project success-
- It assists in improving project costing, considerations, and accounting.
- It optimizes and upgrades resource levels.
- It encourages profitability with design or project insights.
Direct or manage supply chain optimization-
- It improves or updates supplier engagement.
- It gets a holistic aspect of your inventory.
- It prognosticates stock replenishment.
Optimization of warehouse management-
- It enhances and modifies the organization within storage facilities.
- It streamlines receiving and capacity.
- It facilitates docking and shipping.
- It connects or combines clients and operations.
Provide optimal manufacturing outputs-
- It produces within supply and capacity constraints.
- It formulates detailed bills or invoices of materials.
- It supports or assists assembly-to-order.
- It handles production orders or more complex processes.
Business & Finance Articles on Business 2 Community
(50)
