Recently Billentis published their “E-Billing/E-Invoicing: International Overview & Forecast” for 2013, which was carried out by market analyst and e-Billing expert, Bruno Koch.
Koch’s forecast for e-Invoicing and e-Billing in 2013 is upbeat; it is seen as one of the major areas of growth for the European economy. He’s estimated that the service provider community will generate an e-Billing/e-Invoicing turnover of about €1.7 Billion.
Koch also speculates that turnover will grow annually by 15-17% over the next three years. He bases this growth on current market trends and also a strengthening of EU legislation in the area. A new directive designed to combat late payments in commercial transactions is set to be passed into law on March 16th. Under this directive, companies will have to pay invoices within a 30 or 60 day window; if they exceed this time-frame for payment they are subject to fines. This will boost the e-Invoicing market as companies seek ways to comply with the new legislation and avoid fines, with e-solutions seen as the main way of overcoming these challenges.
Koch sees the market consolidating over the next few years with a number of mergers and acquisitions taking place. While the number of service operators has remained steady over the last number of years, Koch believes that with increasing growth in the e-invoicing market there is still room for newcomers, and he estimates that 60 new companies are likely to join the market in 2013.
Celtrino are sponsoring the full Billentis report on e-Invoicing and e-Billing, which is due out in April this year, so keep an eye on the blog for updates and information on the report.
To see the Billentis Forecast report in full, click here.