E-Invoicing - Entering a new era Billentis 2016

Today’s business models evolved through decades, which focused on conventional paper processing. In the northern hemisphere, businesses and governments are usually taking a gradual approach to replacing these paper-based systems with digital substitutes. Small steps can only create incremental improvements. Paper invoices are clearly still dominating the landscape. Scan and capture can bring first improvements. Image based-PDFs and a minor proportion of structured electronic invoices follow this evolutionary step quite often.

This kind of digitisation requires organisations to increasingly establish invoice workflow and archiving Solutions. As a consequence of this improvement, many disadvantages of conventional paper processing disappear, yet several other ones remain.

It is expected that the 2016 volume for e-bills/e-invoices will achieve around 30 billion world-wide with anual growth rates of 10-20%

Inaccurate information in B2B invoices is a major reason for payment delays. Reducing the proportion of exception handlings might increasingly become a priority. Automated e-invoicing is an excellent vehicle to combat this quality problem.

The public sector is responsable for 16-18%of all purchases in given countries. Nevertheless, a máximum of 5% of public purchases are processed using electronic procurement solutions. Now, this is in progress of being changed – at least within the European Union.

There is a tremendous impact of new government initiatives for e-invoicing and directly related topics. The autor estimates that 100,000+ public administrations / agencies in Europe will be affected by new directives by 2018 – at the least.

Billentis electronic invoice 2016

In today’s erratic economy, business agility is more important tan ever before. According to the concept of business agility, organisations seek to approach their operations and resources in a flexible manner. The concept also concerns the ability to rapidly adapt to market and environmental changes in a productive and cost-effective way.

A new era for digitisation and automation lies ahead of us and the environment might change dramatically in upcoming years.

A number of Latin American and Asian countries are developing disruptive models instead that are optimised for a fully digital world on a broad scale, considering all fiscal documents.

It is the invoice that provides the most complete Information for tax authorities. Invoices are therefore moved to the foreground as part of the next step. In this phase, tax authorities mandate the organisations in a country to exchange invoices in electronic format only.

These developments on a national level also make sense on a company level. The time is right to critically question the use of traditional models and shift to disruptive technologies.

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