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Follow on Google News | Public Sector Pushing E-invoicing GrowthBy: Datamolino Due to their size and reach, public sector organisations are one of the predominant forces for growth within the industry. Estimates have the sector accounting for 10% of the total billing market volume worldwide. 45-65% of all businesses are suppliers to the public sector, and 100% of businesses and homes, receive invoices and receipts from it. With such a share, the public sector is in a significant position to push further adoption of the technology and is primed to do so. Advantages for the public sector in adopting electronic methodologies are twofold. E-invoicing removes inefficiencies from within their own value chain, resulting in cost savings and productivity increases. By mandating usage, governments have the potential to increase revenue through a reduction in fraud and tax evasion. Electronic billing encourages transaction transparency and commits businesses to a full audit trail. The report reveals that European invoice/receipt volume has now surpassed 34 billion. According to estimates in the report, the federal administrations of many European countries could save billions of Euros from implementing electronic billing processes. Example savings in billions of Euros: Germany €6.5, France €4.2, Italy €3.0, Poland €1.7, Romania €1.4. The EU is currently seeking for member states to adopt a directive (http://www.europarl.europa.eu/ “The looming regulatory changes for the EU, make it clear that early adoption of electronic invoicing, is critical for SMEs wanting to remain competitive within the lucrative public procurement sector.” Andrej Glezl, CEO, Datamolino The report is researched and authored by leading industry figure Bruno Koch and your complimentary copy can be downloaded at http://www.datamolino.com/ Datamolino’s CEO Andrej Glezl and COO Jan Korecky are also available for further, interview, analysis and quotes. Chris Hague - Media and PR - Datamolino +420 773 611 356 media@datamolino.com End
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