E-invoicing protects you against invoice fraud
The Albert O’Connor & Co Accountants team has a question for you. Is your business using e-invoicing? It’s a fantastic way to protect yourself and your customers from invoice scams, and it can help you get paid faster. E-invoices replace emailed PDF invoices or links to online invoices. Instead, e-invoices are delivered securely to your clients, even across different accounting systems.
The Albert O’Connor & Co Accountants team has some reasons why your company should consider Preventing invoice fraud by switching to e-invoices.
Invoice scams are surprisingly common and can be quite sophisticated. For example, with intercepted invoices, everything looks exactly right, but the bank account number has been altered. When it happens to you, your client thinks they’ve paid you, but the money has actually gone to a scammer. Notifications from suppliers that their bank account number has changed – but it’s not actually your supplier, it’s fake, and your money is going to a scammer. In the event of an invoice scam, it can be very difficult to get your money back.
E-invoicing prevents these types of scams because the invoices travel directly from one accounting or payment system to another. By directly connecting suppliers with their clients, there’s no opportunity for scammers to intercept the invoices.
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