The new Billentis report illustrates why e-Invoicing is a critical solution for businesses looking to streamline their processes, maximise their opportunities and differentiate themselves from the competition.
The proven benefits of e-Invoicing are making it the solution of choice for businesses; the report shows that businesses that have automated their processes are taking advantage of huge savings and giving themselves a competitive edge in their industry. Bruno Koch highlights the savings that can be made in the report and gives practical advice about how to implement such a solution.
From our internal research we have found that the biggest challenge facing businesses is the high cost of processing paper invoices. Cutting costs remains a major priority for all businesses and the Billentis report highlights how e-Invoicing can do that while also improving your customer’s satisfaction.
Below are two diagrams that illustrate the potential savings to the sender and recipient of an electronic invoice. Receiving and processing an invoice is an expensive practice for businesses and Koch has broken down the substantial savings that can be made at both ends.
The above diagram shows that companies can save approximately €10 per invoice by automating data entry. If your company processes 10,000 invoices monthly that is a saving of €1,200,000 a year.
Main Points in the report:
- 2013 volume of e-Bills/e-Invoices will exceed 20 billion worldwide, with an annual growth rate of 20%
- Electronic and automated invoice processes can result in savings of 60-80%.
- Companies can save approximately €10 per invoice by automating their billing.
- e-Invoicing market expected to grow by 30% in 2013. This is predicted to jump to 50% by 2017.
- 55% of B2B e-Invoices are exchanged and archived via the signature method. 40% use EDI and 5% an audit trail.
The report is full of the above diagrams displaying the huge benefits and savings that arise from e-Invoicing. Koch also goes into detail about the logistics of implementing such a solution for your company and how you can overcome some of the pitfalls and ensure a seamless transition.
Download your FREE report here and see how e-Invoicing can transform your company’s processes and give you that vital edge over your competition.