Global Billentis report on e-invoicing: Electronic invoicing is ready to catapult to the next level
In 2015, of the 500 billion invoices being issued globally, over 42 billion will be exchanged electronically, estimates the annual market research report authored and published by Billentis and supported by OpusCapita.
In Europe, the market share of e-invoicing is already 40 % in the Nordic countries and 15 to 40 % in the Central and Southern Europe and Great Britain in the business-to-business and business-to-government sectors. The Billentis report estimates that the annual growth rate for e-invoicing worldwide is around 20 %.
“Electronic invoicing is now considered most of all as an enabler. We have seen organizations’ aims in adopting e-invoicing shift from pure cost and process efficiency to further value creation in the trading network. The goal when implementing electronic invoicing is more often to promote the operating capabilities of all the parties in the supply chain,” Ahti Allikas, Solution Director of O2C services at OpusCapita, comments on the report.
For example, the growing interest in receivables financing, such as supply chain financing, and in dynamic discounting, provides a natural incentive for e-invoicing as electronic invoicing and efficient invoice management it enables are usually prerequisites for such finance programs.
“In addition, optimizing working capital is a priority for companies of all sizes. It emphasizes the importance of electronic and automated – and thus fast and visible – processes in purchase-to-pay and order-to-cash, in which invoices are the core elements,” mentions Allikas.
Complimentary copy of the Billentis 2015 report “E-invoicing: Entering a new era” is available for download HERE.