Greater need to reduce costs and establish more efficient customer processes
Effective competition requires creative and innovative thinking. This applies to all aspects of a company's operations. Thus, it is beneficial to have a bank which helps companies solve perhaps trivial, but important aspects of everyday operations, such as invoice handling and customer processes. In this article, I will describe the advantages of electronic invoicing (eFaktura) and electronic identification (BankID). DNB is at the leading edge in these fields and is ready to demonstrate the opportunities these new solutions can offer your company.
Higher costs due to monthly invoicing
Most consumers in Norway receive their electricity through a power supplier or broker. The end customer market encompasses all household customers and corporate customers who do not trade directly on Nord Pool. Due to high electricity bills over the last few winters, consumers now prefer to receive invoices more frequently to get a better overview and control of their finances. The Norwegian Water Resources and Energy Directorate (NVE) has informed the Norwegian power companies that they may be ordered to send out monthly invoices. Many power companies are already in the process of adjusting their invoicing routines. A higher number of invoices per year will naturally give higher costs. Thus, now is the time to find solutions to keep invoice handling costs to a minimum!
eFaktura a win-win solution
Our solution is eFaktura (eInvoice)! Electronic invoicing is the banks' solution for sending and/or receiving invoices in a simple, swift and cost-efficient manner. eFaktura can be used in both the consumer (B2C) and the corporate (B2B) markets. While there are obvious advantages for the invoicer, there are also similar benefits for the recipient, making the process effective and safe.
Changes in the Norwegian government's invoicing routines have set things in motion. It is not without reason that public bodies have introduced electronic invoices. After taking this service into use, annual savings of NOK 1.1 billion over a 10-year period are estimated. Thus, everyone doing business with public bodies must have in place eFaktura. The deadline is as soon as 1 July 2012!
Makes becoming a customer easier
The solution is effective, cost-efficient and, not least, environmentally friendly. eFaktura for private individuals may be combined with other solutions, such as mobile services, AvtaleGiro (direct debits) and BankID. BankID is used as electronic proof of identity and as an electronic signature and is used by a number of customers to promote efficient interaction with customers. BankID replaces written signatures where required in processes and documents. This ensures customer-friendly solutions while freeing internal resources for other tasks. By using BankID in a ”become a customer process”, customers can establish and change agreements regarding, for example, power supplies swifter than before. Parallel to entering into an agreement on power deliveries, an agreement on invoicing is also concluded – eFaktura and/or AvtaleGiro. This is an optimal solution for both parties.
Increase your competitiveness
A number of power companies have already established successful solutions for the consumer market and are in the process of enabling a solution for their corporate customers (B2B). The market players who establish automated routines will be able to gain competitive advantages and more effective customer processes. Customer costs will also be lowered. Based on the current strong focus on efficient routines and cost reductions, your company should consider these solutions.
Contact your adviser in the bank or a cash management adviser for further information.
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