Global Adoption of Electronic Invoices – Slowly But Surely

Global Adoption of Electronic Invoices – Slowly But Surely https://echovera.ca/wp-content/themes/corpus/images/empty/thumbnail.jpg 150 150 Tim Robertson Tim Robertson https://secure.gravatar.com/avatar/6847ba38495b3996e0bdf3a15c015e0c?s=96&d=mm&r=g July 16, 2015 June 24, 2021

E-Invoicing Growth Worldwide Does Not Reflect Potential Savings

A new survey on e-invoicing has emerged, highlighting the possible savings, and the current state of adoption of the technology globally.

The Billentis Report states that e-billing and invoicing solutions can help achieve per-invoice savings up to 80%, and that over 40 billion invoices will be issued globally this year – an impressive figure. However, it’s still less than 10% of the estimated 500 billion invoices sent each year worldwide, which puts the data in perspective.

Despite this, the savings possible with paperless billing are still considerable: the report states that e-invoicing adoption by the Danish Government saves Danish taxpayers €150 million a year, and businesses €50 million. In Italy, the government’s adoption of an e-procurement system has realised even large savings, reducing costs by over €3 billion.

Companies can accelerate adoption of e-invoicing using solutions such as Palette’s e-Invoicing Services Portal, which enables users to invite customers and partners to quickly set up and benefit from the cost- and time-savings enabled by e-invoicing, without the need for complex implementation. This also helps accelerate cost savings and efficiency benefits. Find out more about how we can help here.