Enabling Electronic Signatures in eInvoicing
Companies are searching for ways to drive costs down, increase their efficiency and deliver a prompt customer service, especially during these times of economic uncertainties.
Transitioning to a paperless environment that issues electronic invoices (e-invoices) is simple and efficient way to achieve these goals. By eliminating the need to mail and archive paper invoices, eInvoicing allows organizations to considerably reduce cost, administrative handling, improve customer service and reduce overall invoicing processing time.
"Studies have shown that companies can save up to 75% of their invoicing cost by switching to electronic invoicing,"
E-Archiving and E-Billing", PWC Publications, 2003.
New TAX Legislation Supporting eInvoices
Electronic Invoicing is made possible by new tax legislation rules that have passed or are currently being evaluated in most countries that ensure electronic invoices are enforceable by law. The European VAT directive from December 2001 with a compliance deadline of 2004 allows organizations to process, send and archive electronic invoices online, but only if the documents are electronically signed. ARX’s CoSign and PrivateServer electronic signature solution provides simple and trustworthy digital signatures that enable organizations to instantly complete the eInvoicing process.
ARX Enables eInvoicing
ARX's electronic signature technology allows an organization to electronically sign and periodically process large number of invoices.
ARX's electronic signature solution components
| » | ARX’s hardware appliance (CoSign or PrivateServer HSM) for generating batch or online electronic signatures in large quantities. |
| » | E-Pad is used to record a graphical image of the handwritten signature so that each invoice or bill document includes a graphic signature in addition to the electronic signature. |
ARX's electronic signature Solution Features
Multi-Application Support
| » | Support of any document format including: Adobe Acrobat (PDF), MS Word and Excel documents, and others. |
| » | Easily integrated with virtually any application that generates electronic invoices and bills. |
Data Authentication Capabilities
ARX's underlying electronic signature technology seals the signed document, thereby allowing detection of any attempt to alter and tamper the documents contents.
Batch or Online Signing Process
Invoices can be electronically signed in batch mode for processing large quantities of invoices per month or as needed. Online electronic signatures per invoice are also supported.
Reap the Rewards of eInvoicing
By enabling organizations to issue electronic invoices and electronic bills, ARX’s electronic signature solution ensures significant benefits to organizations.
| » | Significant Cost Reduction - Organizations cut operation costs surrounding paper-invoicing processing such as printing, handling, mailing, and physical archiving space and systems. |
| » | Improved Accounts Receivables - By eliminating the paper processing, companies achieve quicker turnaround of invoice issuing and ultimately enjoy enhanced collection and cash management. |
| » | Minimizing Errors - Electronic invoices prevent the errors associated with manual invoice data entry and the re-keying of invoice data by clients, thereby assuring a more accurate platform for your financial management. |
The Process of Implementing Electronic Signatures with eInvoices
| » | Each organization ‘signer’ records once their graphical signature by using ARX's E-Pad. The graphic signature is stored together with the signer's signing key and certificate. |
| » | Invoices are created electronically by the organization's information systems and database. |
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The organization's invoices and bills are graphically and electronically signed using ARX's electronic signature solution in batch or online mode. The electronic signature process ensures data integrity of the invoice contents. |
| » | E-Invoices that include the electronic and graphic signature are sent to the customer electronically or can be printed with the graphic signature and sent to the customer by paper. The invoices and bills are archived electronically. |
| » | Customers or other personnel receiving the e-invoice can verify the electronic signature of the invoice in order to confirm both the validity of the data and the sender of the e-invoice. |
ARX’s electronic signature Solution enables a simple transition to eInvoicing that conforms with tax regulations worldwide. With ARX’s solution organizations streamline their invoicing processes, reduce costs, minimize invoice-processing time and improve the level of service they can offer to their customers.
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