The report predicts that nearly one quarter (24%) of all bills and invoices will be processed electronically this year, with around six billion paperless invoices and bills to be exchanged across Europe. It also anticipates a 22% annual increase in e-invoicing and e-billing in business and government sectors. The main reason for this rapid acceleration is based on financial pressures, with all markets surveyed naming cost reduction as a top factor for adopting e-billing and e-invoicing processes.
The European Commission has exemplified the substantial cost savings that can be achieved across the EU by adopting e-invoicing technology. The Commission recently highlighted how each year Danish taxpayers save €150 million and local businesses reduce costs by €50 million thanks to e-invoicing. Meanwhile in Italy, using e-procurement saves over €3 billion. The Commission also points out that, if implemented across the EU, the use of e-invoicing in public procurement could save up €2.3 billion a year.
The Billentis Report notes that SMEs in particular are recognising the need for new solutions to manage billing and invoicing in order to meet customer demands, remain competitive and keep costs low. Yet, in parallel it was found that although leaders within SMEs recognise the need to change, they are cautious in fully implementing a solution that will change their way or working. With 20 million SMEs across Europe, which represent over 99% of all businesses , it is vital that this sector embraces digital transformation to remain agile and ready to overcome challenges while increasing new business opportunities.
Martin Hurley, Vice President and General Manager, Outsourcing Services Ricoh Europe, says “It’s clear that in order to thrive in the digital age and maintain their competitive advantage, both small and large organisations can no longer afford to ignore the business potential of e-invoicing. Developing the visibility of cash flow, improving invoice approval, and reducing administration time are just some of the benefits that can be attained from this technology. The next step for European businesses is to accelerate their journey towards full digitisation. This begins with reviewing existing processes, technology systems and ways of working.”
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Autor(en)/Author(s): Sarah Feurey
Quelle/Source: Shared services link, 11.07.2014
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