At this time of year, companies are doing the accounting close for 2021, a process that can be less complicated if you turn to digital tools such as electronic invoicing, explains Kenneth Bengtsson, CEO of Efact.
In this sense, the specialist points out that the digitization of documents, but mainly their proper use, allows the reduction of “human errors” that translate into greater time and costs.
“A clear example is electronic invoicing, which is almost widespread, but only 1% of companies use it properly,” he mentions.
In this regard, he comments that 99% of companies send their customers digital receipts in PDF format by mail, while only 1% use the mailbox of the electronic invoicing system.
“Sending a PDF file means that someone will have to enter the data manually in accounting, incorporating the risk of human error in typing, just as it happens with physical documents,” he says.
According to Bengtsson, the most common mistakes in electronic invoices come from the wrong typing of some amounts or in the sum of them. There are also receipts that do not include the information in all the required fields.
“The same thing that happens with the electronic invoice, happens with the other 92 commercial documents that make up the UBL standard. Barely 5% of them are digitized in Peru. A correct alignment between vouchers, purchase orders, sales records, among others, are key to an accounting close”, he concludes.
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Kingston is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
