A recent report by The Institute of Financial Operations, indicated that companies are becoming more sophisticated in how they approach procurement and finance. While e-invoicing implementation may be gradual, there has been a clear growth since last year as companies begin to understand its benefits of electronic invoicing
Key findings
Here are some key findings from the study:
- Companies think that there is room for improvement in how companies leverage technology to implement key invoicing processes
- 33% of the companies reported that their employers did not in any way use e-invoicing
- Speeding up invoicing processes and reducing invoicing costs were the most compelling reasons to implement e-invoicing
- 50% of the companies says they are able to receive and process invoices electronically, and 25% of them is able to send invoices electronically.
- 76% of the companies indicate that they receive e-invoices as e-mailed PDFs.
- A staggering 50% of the companies prints out the e-invoices for further processing
More information
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The full report will set you back € 245: www.financialops.org/research
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As Global Governments become more savvy toward Electronic Invoicing and AP Automation more and more corporations are learning how they can improve their ROI.