Advantages of e-invoicing in The Kingdom of Saudi Arabia

The digitalization of economy has become the main focus in Saudi Arabia. Ever since ZATCA introduced its e-invoicing system to KSA taxable residents, a set of obligatory rules have been implemented. Nowadays, e-invoicing solutions seems to work reasonably and effectively. What are the advantages of digital bookkeeping system?

Accuracy

Errors happen and that is completely natural. There is always a slight chance that even the most accurate bookkeeper will make a mistake. Contemporary e-invoicing systems provide excellent service, avoiding errors on data entering, document classification or labelling. In other words, there is simply less room for human mistakes. And what is more, all documents are gathered in one place – there is no possibility to misplace or lose one in the mail.

Economic savings

Handling costs when running a business is a difficult task. E-invoicing saves a lot of time by cutting out a number of manual steps while traditional invoicing. What is more, economic savings are a big plus, as e-invoicing reduces costs of materials and storage. Less paper, printer ink, postal fees, no need of storage rental that usually requires electricity – the company’s expenses look so much better with e-invoicing paperless system.

Easy tracking and accessibility

E-invoicing online solutions have been designed to make sure all documents are in one platform. That gives the company a guarantee they are accessible from each place – work, home, also during travel or business trips. Online documents are easy to track through an automated system of reports. This way the entrepreneur knows whether the invoice has been sent, received, viewed and paid by the other party.

No more inconvenient searching

Getting through a pile of papers in search for that one document might be weary, time-consuming and stressful. Does it sound familiar? With automated e-invoicing system, finding desired document takes less than a while. Digital invoices allow for a quick search thanks to its intuitive categorization.

Safety

Keeping paper invoices in a locker is not a safe solution, especially if a piece of the furniture is only protected by a lock of dubious quality. Electronic invoicing system guarantees full data protection. That includes a document forgery and fraud. Moreover, invoices are kept in the system for years with undamaged readability. This is the main reason why e-invoicing systems have been mandatory in many countries. Global acceptance has spread through the public sector of European countries, Saudi Arabia, Japan and The United States.

To sum up, there are multiple benefits of e-invoicing solutions. It helps to save tons of money spent on paper, ink and energy. It is fast and intuitive and saves time of clients and suppliers. What is more, implementation of e-invoicing makes the company look transparent, especially in the context of fraud. It is the most reliable and convenient alternative for small, medium and big companies and organizations, and no wonder it has become mandatory in so many countries.