Electronic Invoices and You

As you may already know an EDI invoice or an EDI 810 invoice is an electronic version of a paper invoice or bill. A supplier will generally send an 810 invoice to communicate to a buyer the specific items, price, quantities, etc. they have delivered and that must be paid for by the buyer.

Faster and Better

Electronic invoices flow smoothly and reduce the errors and costs that are associated with the manual processing of paper invoices. And sending invoices with EDI is much faster than sending a paper invoice. Another significant advantage of electronic invoices is fast confirmation of receipt.  Usually within an hour, almost always within 24 hours of the transmission of the invoice, the buyer will send a 997 Functional Acknowledgement indicating that the buyer has successfully received the invoice from the supplier.

Becoming EDI Compliant

In order for companies to send invoices and receive confirmations they must be EDI compliant. Each buying company will has unique EDI requirements, and most partners will have an implementation guide or kit that explains their specific EDI requirements. Many of these guides are over 100 pages long and require thorough reading to fully understand exactly what the buyer wants. The supplier can then use special EDI programs and reference files, usually called “maps”, to translate the invoice documents into the format that follows the data requirements and business rules of the buyer. Because every trading partner has unique requirements, EDI compliance must be tested and approved by each buying company to ensure everything works properly.

How we can help

This is where CovalentWorks comes in; our web based EDI services handle everything that is required for our clients to be fully EDI compliant with their customers that buy from them. We handle all of the EDI software, mapping, translation, communication, and testing for our clients with a cloud-based service that is easy to use and affordable. All of the required software and services run on secure servers in the cloud. Clients have access to a complete EDI solution from anywhere that they have an internet connection with a computer, smart phone or tablet.

For more questions about invoicing you may leave us a comment on this blog post concerning your question. If you seek technical help you can contact our live customer support by sending an email to customercare@covalentworks.com or calling 1-800-496-3380.

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