55% of Companies Planning to Adapt Electronic Invoicing in 2015

55% of Companies Planning to Adapt Electronic Invoicing in 2015 150 150 Tim Robertson

electronic invoicingE-invoicing has been steadily growing worldwide over the last few years, and it looks like its growth could accelerate even further this year with the European Union looking to make e-invoicing mandatory for government procurement. The U.S Government has also mandated e-invoicing for government departments in order to lower processing costs and save an expected $450m.

According to research from e-invoicing consultancy and market analyst Billentis, a company can save up to nearly 80% by implementing automated invoicing processes.

But cost reduction is not the only reason why more and more governments and businesses are switching from paper to electronic invoicing. E-invoicing helps organisations to improve and streamline their financial operations, which is vital in today’s fast-paced and international business environment. It also makes it easier for them to track invoices, which prevents the risks of fraud and of invoices going missing.

E-invoicing technology enables faster, easier and safer payments between organisations, while achieving significant cost savings. With more and more companies and government departments set to adopt the technology, this will create greater collaboration between international business partners and more efficient international commerce.