EDD is a comprehensive and affordable enterprise and SMME document delivery solution that allows you to send invoices, statements and other financial documents such as payslips, contracts or policies electronically, while providing an easy electronic payment solution for your customers.
EDD is used by Blue Chip South African companies in many industries from financial institutions, retail, insurance, marketing, manufacturing and government agencies.
Electronic Document Delivery is a must for any SMME or enterprise. Getting vital financial documents to your customers quickly is critical to your business. Yet often the time taken to process data for print or to send these documents takes far too long.
Your finance department is swamped by customers who want their invoices resent to them, or who want to query a line item, yet you can’t access the customer records in real time. There is no audit trail to show the customer had received the invoice. And there is no quick retrieval system for associated physical documents such as purchase orders and delivery notes.
Finding or building a reliable and compliant delivery method with proven audit trails which can integrate your current paper-based processes (such as purchase orders and delivery notes) has proven to be difficult.
You’ve considered sending invoices and statements electronically. You have even thought about allowing an easier payment method of these invoices for your customers.
With EDD, which has a sophisticated archiving and distribution system at its core, you are able to deliver financial documents to customers safely, quickly and affordably – with the added benefit of 1-to-1 eMarketing directly to your customers.
Features and Benefits of Electronic Document Delivery (EDD)
Features of Electronic Document Delivery (EDD)
Hosted cloud solution with a secure storage database, intelligent archiving, document linking and redundancy/backups
Accurate robust platform that can process up to 20,000 documents a minute (high volume electronic delivery)
Integrates paper-based supporting documents and eliminates the need to keep paper
Customers access financial documents via a web browser on any device
Transforms raw data into Branded PDF’s and easy-to-use 1-to1-1 marketing opportunities
Allow customers to pay via an electronic payment facility
Benefits of Electronic Document Delivery (EDD)
Creates legal and tamperproof electronic documents in a 128bit encrypted PDF format
Compliant with SARS, ECT, Companies Act, King Commission, POPI, CPA and Banking Regulation
Be up and running in days
Easy To Implement
Seamless integration with current systems, no systems integration required Software-as-a-Service – no hardware or software is required on site
Allows quick access to customer records, real time response to customer queries, improving customer service, customer satisfaction and loyalty
Reduces billing expenses massively
Ensures immediate Return on Investment with zero capital expenditure outlay
Proves receipt of invoices by clients and reduces disputes
Significantly reduces your company’s carbon footprint
Save money and improve your cash flow
Save on document delivery
When calculating the cost of traditional postal delivery, paper, printing, envelopes, fulfilment and exorbitant postage stamp fees, EDD becomes a “no-brainer”. EDD enables you to deliver documents securely and reliably with all the added benefits of full colour documents, delivery audit reports, personalised marketing messages and much more – all at a fraction of the cost of traditional postal methods.
And because your documents are being delivered so much faster, debtors inevitably pay quicker, which in turn reduces your debtors’ days and improves your cashflow.
Save on document archiving
Previously you had to take up valuable and costly floor space to store your financial and supply chain documents or incur the cost of an off-site document storage provider. Now EDD provides you with a cost-effective and compliant archive without the costs and complexity of paper or onsite digital archive. EDD securely archives documents as composed electronic files and enables employees around the globe to access them via a user-friendly, web-based interface. No risk, no hardware costs, no complexity.
Save on document retrieval
Never pay for access and retrieval fees again with EDD. All documents in EDD Online Archive are made instantly accessible to your company administrators, allowing you to retrieve, resend, track and monitor delivery of documents easily and quickly.
Online portal access can also be given to customers directly where they can retrieve their documents, reducing the amount of customer queries you field on a daily basis.
Reduce your carbon footprint with EDD
All of us are looking for ways to reduce the impact that we and our companies have on the environment. Huge quantities of resources are consumed by businesses each day to create and deliver paper financial documents, such as invoices. Huge quantities of waste are also produced in their disposal. This can simply be eliminated by replacing a slow, inaccurate manual service with a faster, more efficient electronic solution.
EDD HELPS YOU HELP THE ENVIRONMENT!
Some green facts…
With EDD you can ensure significant environmental and cost savings by eliminating paper and replacing the wasteful “print-send-archive-dispose” document cycle with a faster, greener process that costs considerably less. It is estimated that producing and delivering a single paper invoice leaves a 100g carbon footprint. Thus an average-sized company sending out 12,000 invoices per month could save annually:
14.4 tons1 of carbon
180,000 litres of water3
1872 kg of solid waste3
While adhering to compliance can be a taxing exercise, EDD makes compliant electronic document delivery easy. All documents delivered by EDD comply 100% with all regulatory legislation pertaining to electronic document delivery.
And the best part of implementing EDD is that the same processes necessary for compliance actually serve to streamline your document delivery processes by reducing paper usage, cutting costs and increasing customer satisfaction. All of which directly affects your bottom line – in a positive way.
EDD adheres to the ECT Act No. 25 and meets all requirements for compliance set out by the South African Revenue Services.
The South African Revenue Service has accepted that tax invoices, credit or debit notes may be issued not only as paper documents, but also as electronic documents. Sections 20 and 21 of the Value-Added Tax Act, 1991, refer to a document without stipulating that a tax invoice must be a hard copy. The South African Revenue Service’s requirements in regard to electronic tax invoices, credit and debit notes are as follows:
|The tax invoices, debit or credit notes must contain the mandatory information for tax invoices, credit or debit notes as stipulated in section 20(4), 21(4) (a) and 21(4) (b) respectively.|
|Documents must be transmitted in encrypted form of at least 128 bit.|
|Both the supplier and the recipient of the supply must retain the documents in readable and encrypted form for a period of five years from the date of supply.|
|If a service provider is used, he must also retain the documents for a period of five years.|
|Both the supplier and the recipient of the supply must have the necessary codes or other means available to enable SARS auditors to compare the documents in readable form with those in encrypted form.|
|The transmitted electronic document will constitute the original tax invoice, credit or debit note. Hard copies extracted from the system must bear the words computer generated copy tax invoice, computer generated copy credit note or computer generated copy debit note thereon. All further copies must also bear such words.|
|The recipient of the supply must confirm in writing that he is prepared to accept electronic tax invoices, credit and debit notes under the conditions set out herein. Such authority must be retained by the supplier for a period of five years after the last electronic document is issued to the recipient.|
|No other tax invoice, credit or debit note may be issued in respect of the specific supply, unless such document is marked as a copy of the original document. Any vendor that complies with these requirements and advises SARS may issue electronic tax invoices, debit or credit notes in place of paper-based tax invoices, debit or credit notes.|
The EDD solution has been audited by Ernst & Young, verifying that EDD complies fully with all requirements as stipulated by SARS.
Audit trails & Reports
EDD provides a wide range of audit reports detailing processes from the receipt of data to delivery of the composed document to the intended recipient. These reports provide a transparent window as to how data has been handled, distributed and delivered.
The splitter report lists the encrypted PDF accounts by account/invoice number created from the data received. This provides peace of mind as to how many accounts were sent to EDD vs the number of accounts ready for archiving and distribution.
This report details the accounts that were sent by EDD where recipient information, such as an email address and/or fax number was found. Accounts with no corresponding recipient details are listed as unhandled.
Detailing the successful receipt of each account, Delivery Reports provide a clear analysis of the success of each run.
Undelivered Mail Reports
Perhaps one of the most important and most frequently used reports, the undelivered mail report is generated approximately 72 hours after each mail run. The report details the accounts that were unsuccessfully delivered and lists the reasons for the non-delivery. This provides administrators with the information needed to follow up intended recipients to correct recipient details – ensuring that each consecutive email run is more successful than the one before.
EDD offers an enhanced range of reporting options dealing both administrator access to the online archive and actions and activities of administrators within the archive. These reports help you paint an accurate picture of your administrator user trends and effective responses to customer queries.
EDD provides powerful tracking and recording analysis of receipt click-through’s on logo’s and hyperlinks included within the body of the email, allowing you to gauge the effectiveness of email marketing campaigns run within the email body.