Electronic Invoicing: Opportunity for the Government and Businesses

The problem and the solution

One of the problems often faced by businesses (especially SMEs) is getting paid on time. Cash flow management can be a complex task when a range of clients have different times of invoice clearing and some of them happen to delay payments. The SME community is particularly vulnerable to the risk of poor cash flow management. Having a hard time to secure a loan from large financial institutions, the SMEs found a relief in the flourishing alternative lending space and organizations dedicated to SME financing.

However, the problem doesn’t go away with access to credit. The source of the problem for any business lies in the complexity of the whole cycle. For example, large retailers that have a wide range of small and mid-size vendors may be clearing the invoices in 90 days. Those vendors, however, have t ...

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