Choosing the right e-invoicing partner for your software – how to find “the one”

If you’re in the business of selling financial management software or ERP systems to companies (of any size), you’re well aware of how vital your product is to your customers’ daily operations. With new trends and technologies popping up every day, the battle of staying relevant is only getting more heated. Your team is likely already working their way through a jam-packed roadmap for the upcoming quarters. Adding yet another item, like e-invoicing, might seem daunting, but what if there was a way to expand your offering without piling more onto your team’s plate?

That’s where third-party solutions come in. The right e-invoicing solution can be seamlessly integrated into your software, offering your customers and their business efficiency and security. But with so many options out there, how can you make sure you’re choosing the best one? Let’s walk through the process together. 

Why bother with e-invoicing?

Integrating e-invoicing into your software goes beyond adding a new feature. Think of it as a powerful, strategic tool that transforms the way your customers manage their transactions. Compared to traditional invoicing methods, e-invoicing cuts down manual errors, speeds up payment cycles and even reduces operational costs. On top of that, it also ensures businesses stay aligned with regulatory requirements, mitigating risks related to compliance. Pretty great, right?

Picking the perfect partner; What should you consider?

Sure, at first glance many e-invoicing operators and solution providers can look and feel the same. Even their offerings might seem oddly similar on the surface. But what are the critical factors you should dive deeper into?

Seamless integration

You should look for a solution that can be integrated seamlessly with your system architecture. The methods available should be familiar to your development team. Don’t compromise on the level of user experience you already offer – accept nothing less than excellence.

Compliance

With regulations evolving constantly, your e-invoicing partner must be a proactive player in maintaining and offering built-in compliance. Their expertise and their infrastructure should act as a safeguard for you and especially your customers’ business against any potential penalties.

Security

Top-tier security is non-negotiable. Look for robust security measures and certificates that guarantee the integrity and confidentiality of your customers’ transactions and data.

Scalability

As your business grows and your customers’ business grows, your e-invoicing solution should be able to keep up the pace. Increased volumes should be handled without even breaking a sweat, with zero compromises on any of the aforementioned factors.

Support

Great support can make all the difference. The best partners offer excellent support with short waiting times already in the integration phase, and continue serving you every step of the way after too.

Costs vs. value

Lastly, you obviously want to evaluate whether you’ll be getting the best bang for your buck. From monthly fees to transaction-based costs, there’s probably as many possible pricing models as there are partners. The best ones bring in more than just savings: they bring revenue opportunities. 

Finding “the one”

The right e-invoicing partner not only meets your technical requirements, but is also committed to creating happy customers and long-term growth. Depending on which country or countries you operate in, you probably have a plethora of options to choose from. 

Not quite sure how to narrow down the number of potential partners? Here’s a list of questions to help you:

1. What features does their offering cover? Are there any additional features other than invoice sending and receiving?
2. Is their solution customisable to your customers’ needs?
3. What kind of an API do they offer?
4. How does the integration process work?
5. Do they offer flexible and scalable pricing options?
6. How does their solution scale to support the growth of your client base and their invoicing volumes?
7. What performance guarantees do they provide?
8. What security measures are in place to protect data? What about data privacy and GDPR?
9. Do they have any security certificates?
10. What kind of support do they offer during and after the integration process?
11. How do they handle e-invoicing related customer support? 
12. How do they incorporate partner feedback into your development process?
13. How do they ensure their solution stays compliant with both global and local regulations?
14. How are regulatory updates managed and communicated?
15. Can they share success stories from similar partnerships?

Ready to make a decision?

If you’ve made it this far, congratulations! You are now well-equipped to make a strategic move and offer e-invoicing to your customers. Remember, the goal is to provide your customers a comprehensive, secure and efficient solution that not only complements your current offering but makes it even better than it already is. Off you go then!

But maybe not too far…

Without tooting our own horn too much, we at Maventa proudly serve over 300 software partners with a world class e-invoicing infrastructure that, we believe, ticks all the right boxes. If you feel like you are ready to take the leap, we’re more than happy to talk.