Custom E-Invoicing Software
Features, Integrations, Success Factors, Financial Outcomes
ScienceSoft applies 33-year experience in custom software development and 15-year expertise in financial software development to help businesses design and build effective e-invoicing solutions.
Custom E-Invoicing Software in a Nutshell
E-invoicing software provides comprehensive functionality for generation, processing, exchange, tracking, and storage of electronic invoices. Custom e-invoicing software helps companies streamline their unique e-invoicing workflows while ensuring compliance with industry-specific and regional regulations, such as ZATCA regulations for Saudi Arabia, Directive 2014/55/EU for the EU, MTD for the UK, GST for India, and more.
Go-to integrations: CRM, ERP, accounting software, procurement software, etc.
Implementation time: 6–10 months for custom e-invoicing software.
Development costs: $140,000–$400,000, depending on the solution’s complexity.
Annual ROI: 310%+ for midsize and large enterprises.
E-invoicing software + CRM
To enable consistent input of relevant data when generating customer e-invoices.
Alternatively to CRM, e-invoicing software can be integrated with an order management system or directly with selling platforms (e.g., a company’s ecommerce website).
E-invoicing software + accounting software
To automatically record e-invoice data in the relevant subledger (A/R for customer e-invoices, A/P for purchase e-invoices) and the general ledger.
E-invoicing software + a local tax authority’s portal
To automatically report taxes and submit e-invoices for clearance to a local tax authority and ensure e-invoicing compliance.
E.g., ZATCA E-Invoicing Integration Portal for Saudi Arabia, Invoice Registration Portal for India, Chorus Pro Invoicing Portal for France.
E-invoicing software + procurement software
To automatically match purchase e-invoices with purchase orders generated in procurement software.
E-invoicing software + ERP
To automatically validate purchase e-invoices against goods/service receipts.
Legal compliance
to ensure accurate e-invoice generation and processing in accordance with up-to-date industry- and region-specific regulations, such as GAAP, IFRS, SOX, Directive 2014/55/EU (for the EU), ZATCA regulations (for Saudi Arabia), MTD (for the UK), GST (for India), and more.
Cloud deployment
to reduce e-invoicing software maintenance costs, provide scalable and secure centralized storage for e-invoices, and enable 24/7 remote employee access for faster e-invoice creation and approval.
Mobile access
to enable e-invoice generation, submission, approval and tracking on the go.
Easy-to-use APIs
to facilitate integration of e-invoicing software with required back-office systems and legal platforms.
Custom E-Invoicing Software Implementation Costs and Financial Outcomes
The cost of custom electronic invoice software implementation varies greatly depending on:
- The number and complexity of a solution’s functional modules.
- The volume of data that needs to be migrated from spreadsheets and/or existing invoicing software.
- The type of e-invoicing software deployment (cloud, on-premises, hybrid).
- The number and complexity of integrations (with CRM, ERP, accounting software, tax authorities’ portals, etc.).
- E-invoicing solution availability, scalability, performance and security requirements.
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Custom e-invoicing software of average complexity requires $140,000 - $300,000 in investments, while building a complex e-invoicing system for a large enterprise may cost $400,000+. With custom e-invoicing software, midsize and large businesses can reach 310%+ annual ROI. |
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Key benefits of custom e-invoicing software
You need e-invoicing software providing specific features, for example, generation of unique QR codes that contain user-defined information (e-invoice total, seller’s VAT registration number, an e-invoice timestamp, etc.), creating custom rules for e-invoice sequence numeration, intelligent e-invoice validation, or e-invoice data encryption using a hash function.
You need an e-invoicing solution providing compliance with local regulations in the regions your company operates (e.g., to keep up with ZATCA’s mandatory requirements in Saudi Arabia, comply with Peppol stardards for public eProcurement in the EU).
You need to integrate e-invoicing software with your legacy back-office systems (CRM, ERP, accounting software, etc.) smoothly and cost-efficiently.
You need highly secure e-invoicing software providing advanced protection capabilities for your sensitive financial and business data.
You need a flexible e-invoicing solution that is easy to evolve with new features as your business grows or transforms or new legal compliance requirements arise.
E-invoicing software consulting
- Analysis of of your specific e-invoicing needs.
- Assessment of the existing invoicing processes and tools.
- Suggesting optimal features, architecture, and tech stack for the e-invoicing solution.
- Preparing an integration plan (with CRM, ERP, accounting software, a procurement system, etc.).
- Implementation cost & time estimates, expected ROI calculation.
E-invoicing software development
- Analysis of your corporate e-invoicing needs.
- E-invoicing solution conceptualization.
- Architecture design for the e-invoicing solution.
- E-invoicing software development.
- Integrating the custom e-invoicing solution with the required back-office and third-party systems.
- Quality assurance.
- User training.
- Continuous support and evolution of e-invoicing software (optionally).
About ScienceSoft
ScienceSoft is an international IT consulting and software development company headquartered in McKinney, Texas. We provide consultancy and development services to help businesses design and build custom e-invoicing software. Being a ISO 9001 and ISO 27001 certified company, ScienceSoft applies a mature quality management system and guarantees that cooperation with us does not pose any risks to our customers’ data security. If you are interested in developing a reliable e-invoicing solution, feel free to turn to ScienceSoft’s team.