Global market research report: market is evolving beyond e-Invoices
According to the global market research report on e-invoicing published by Billentis, a new era of digitization and automation lies ahead. Large buyer corporations aim to achieve zero-touch, fully automated invoice processes and optimization of entire purchase-to-pay (P2P) and order-to-cash (O2C) processes, which is one of the major trends driving the progress in the market beyond mere e-invoicing.
“This trend has been strengthening year by year: electronic invoicing is considered as an enabler that allows to improve the end-to-end chains, and cost-efficiency is no longer the number one goal for corporations, albeit still important,” comments Ahti Allikas, Solution Owner, OpusCapita.
The Billentis report also highlights the role of public administration as a promoter of the next phase. In Europe, new EU directives obligate over 100 000 public agencies to support certain e-invoicing standard, to develop automated processing of electronic invoices and to migrate certain procurement processes towards electronic procedures by the end of 2018.