Invoice Generator API is the next big step for the simpler world of automated document processing.
What is an Online Invoicing API?
With the help of Online Invoicing API, companies can generate and manage invoices based on various input data. SMEs and large corporates can save time and resources by automating the generation and processing of invoices. Online Invoicing API is the first step in offering comprehensive Accounts Receivable automation. With a compliant Online Invoicing API, it is possible to send custom quotes & invoices, issue reminders, review unpaid invoices, and auto-reconcile invoices.
Unfortunately, only a handful of banks and Fintech companies provide their customers with this functionality. This leaves SMBs in a situation where they have to seek out standalone online invoicing solutions. In fact, an average SMB has to use 40+ apps to manage finances and operations, while much of that functionality could be provided by a single platform via API integrations.
Why should banks and fintechs integrate Invoice Generator API?
Banks and B2B-focused fintechs that do not provide their customers with advanced Accounts Receivable automation solutions (based on Online Invoicing API, Invoice Generator API, etc.), miss out on many opportunities. First, they become less competitive, as other companies add such functionality. Second, they lose additional income streams that come with AR automation.
How does Monite Invoice Generator API work?
Banks, neobanks and fintech providers can streamline and automate the invoice generation process for clients with the help of Monite. Invoice Generator API integrations can create counterparts that represent customers, add products that will be listed in the invoice, add additional invoice data, get the applicable VAT rate, and more.
In other words, Monite’s Invoice Generator API can integrate a comprehensive PDF conversion system with existing applications. Using the integration, users can configure delivery method, payment schedule and other settings before they generate the invoice.
Is Monite’s solution better than a free invoice API?
While a free invoice API can suit a smaller operation (a company or person seeking to automate their invoicing procedures), integrating a public API into a financial services platform would lead to security and non-compliance issues. Monite’s compliant Online Invoicing API is safe, secure, reliable and built with the highly regulated area of Finance in mind.
Offer your clients full revenue management with Accounts Receivable
87% of your SME clients are paid late and facing cash flow strain. Explore our guide to discover how integrating Accounts Receivable automation can offer your clients full revenue management.
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