Skyscend India

Did you know that supply chain finance programs can help you earn cash quickly? But, before you decide to tread on this path, make sure you are aware of other financing options as well.  While a bit tricky, supply chain financing can allow small businesses to extend payment dates, keep their credit scores intact, and keep the suppliers’ cash flow smooth.  In this case, suppliers receive advanced payments on their pending invoices from a third-party funder. When the small business receives the payment, the money is then returned to the third-party funder.  Come Invoice Factoring: How Does It Impact Supply Chain Management?  Invoice factoring is a small business loan. It is often used to get money on outstanding invoices immediately. In this case, also, the third-party lender buys the accounts receivable. Although it sounds similar to supply chain financing, this lending is asset-based. Here in the company’s accounts receivable acts as collateral.  Invoice factori...

 A ll businesses, small and large, need to maintain their accounts payable process, and for that, they need to streamline invoice processing.   But, the catch here is that they need to do it while sticking to their budgets and scaling their needs. Truth be told, this whole idea looks far-fetched in the absence of good invoice processing software. Its absence will stall your progress and be detrimental to your bottom line.   Don’t worry. We have it all sorted for you; here is a list of tips you need to follow to improve your end-to-end accounts receivable process.   1. Lay Accounts Payable Process Before you can optimize anything, it is important to lay a roadmap. This will help you identify issues and inefficiencies in the process. The simple way to do this is to use sticky notes to map out processes. Remember, it needs to be accurate before being of high quality.   Most importantly, make sure your team is on the same page. This will ensure you don’t miss any...

There are several financing and funding processes involved in businesses to keep them afloat. The finance team has to be constantly on their toes to make sure the working capital is flowing right, and the business is supported well. Among many such finance solutions comes the invoice factoring .   What is voice factoring? Invoice factoring is one such way for the businesses to raise money by selling their outstanding invoices to a factoring company at a discount. It is a type of invoice financing where a third-party lender (a factoring company) lends cash against the customer invoices which are yet to be paid. This arrangement helps the business to receive most of the invoice cash immediately rather than waiting for weeks or months to get paid. The amount of funds available or lent is typically determined as a percentage of the outstanding sales ledger or debtor book. However, this may be restricted by a specific condition, such as limiting exposure to a single large custom...

  In the 35th GST Council Meeting, electronic invoicing was implemented as a standard to make B2B invoice reporting easier for businesses with annual revenues of 100 crores or more. Further, it was announced that businesses with an annual turnover of more than 50 Cr are also required to adopt e-invoicing. Electronic invoicing or e-Invoicing is a system in which GSTN authenticates the B2B invoices digitally and returns them for further processing. The most significant advantage of uploading invoices in a common portal is that it automates multi-way reporting through a single data entry.   Benefits of e-invoicing system under GST The GST scheme has transformed the entire process of invoicing for B2B reporting more efficiently. Businesses can now generate bills with ease.   Error reduction   The invoice uploaded in a shared site in the e-invoicing system allows a smooth and multifunctional reporting. All the invoices uploaded to the GST portals are validated ...

Gone are the days when companies would send paper invoices or send the PDFs through email. E-invoicing has become the present and future for the businesses, and if you haven't yet adopted this seamless system of working, below listed are the most compelling reasons why switching to an e-invoice management system is the need of the hour.    We are at the threshold of the beginning of a new year, which also means we are on the verge of witnessing a lot of new technologies take over. When it comes to e-invoicing, the digital transformation has already started; therefore, if you haven't adopted e-invoice processing yet, look at the reasons below why you should.   ·          Save Time When it comes to a business, time is a crucial investment. Don't let the crucial time of your team be stuck in papers and getting the invoices confirmed. With the advanced e-invoice management system, the process becomes more synchronized, cutting dow...

The world is becoming ‘smarter’, thanks to the technological transformation. If we compare our lifestyle in the last one decade, we can trace the rapid transformation which we have accepted knowing or unknowingly. Smart phones, watches TV etc., are just a fraction of the visible change, while giant transformation are taking over the human civilization. No, we are not talking about flying cars or cyborgs taking over our day to lives but the advancements such as use of Artificial Intelligence, Blockchain, cloud technology etc. The introduction and implication of these technologies in different areas have disrupted the archaic method of working. Trade and business being one such area, the recent buzz has been the e- invoice generation process . It is needless to say that the business growth is fueled tremendously by the technological advancements, but when it comes to e- invoice generation process the game has reached another level. What is e-invoicing? Electronic invoicing or e-in...