E-Invoicing - "Corporates Should Start E-Invoicing Proactively and Immediately"

As one of the most established and respected analysts on e-invoicing, we were keen to catch up with Bruno Koch, CEO of Billentis, to find out his current thoughts on e-invoicing in Europe.
By: Hayley Smith
 
May 13, 2010 - PRLog -- Firstly to gain insight into general e-invoicing trends for businesses in Europe and secondly to discuss the specific opportunities e-invoicing presents for banks and other financial institutions.


Question 1: E-invoicing adoption is experiencing rapid growth all over Europe? Why?  

Bruno: The market has become quite mature. Enterprises better understand the benefits they can have with e-invoicing.  Government initiatives on an EU level and in national markets have improved the confidence in this innovative channel.  In addition, an increasing number of trading parties do expect that paper invoices will be replaced by electronic and automated methods. The recent economic crisis was also an enabler for all projects with the potential to reduce costs and to improve working capital in businesses.

This development is in line with a rich solution offering for any kind of user demand, regardless of size or technical ability. As a market analyst for 11 years, it is a pleasure seeing numerous new user-friendly and efficient market offerings especially for SMEs. The combination of all these components is strongly accelerating the market growth.


Question 2: Greece has just mandated the use e-invoicing (http://www.accountis.com/e-invoicing/ nationally. Do you see other EU member states following?

Bruno: I see two groups of countries pushing or mandating the use of e-invoicing. One group has the aim to reduce their own administrative cost for all inbound and outbound invoices to and from the public sector. Their countrywide initiative also has a very positive impact on increasing awareness and adoption of electronic exchange among the private sector.

The objective of the other group is to increase the transparency around money streams and their own tax revenues. In this group are countries with very high external debt, increasing accumulated deficits and insufficient transparency around the money streams. Greece is a forerunner. Others in this group are Portugal, Italy, Ireland and Spain..........


Question 3: Why do you think businesses should adopt e-invoicing?

Question 4: What are the specific benefits for SMEs?

Question 5: If you could give one piece of advice for a corporate starting an e-invoicing project, what would it be?

Question 6: How do you think the e-invoicing landscape will develop over the next 2 years?  

Read the full interview on Accountis.com (http://www.accountis.com/resources/free-article-library/a...)

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Accountis Europe Ltd is an international provider of e-invoicing and payment services including Bacstel-IP, direct debit and direct credit management, account validation and SWIFT.

Founded in 2002, Accountis became part of the Fundtech group in early 2008 and processes over 1 million transactions every day. The Accountis trusted transaction network is used by many of the World's largest corporations to leverage existing systems and maximise efficiencies across the financial supply chain.
End
Source:Hayley Smith
Email:***@gmail.com Email Verified
Zip:LL57 4FG
Tags:E-invoicing, E-invoicing Trends, Financial Markets, Businesses, eu
Industry:Accounting, Business, Financial
Location:Bangor - Gwynedd - Wales
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