See infographics and check out the recent research findings and learn:
- The current invoicing situation in the business landscape
- The future of invoicing: predictions and speculation
- What invoicing compliance problems are encountered?
- How to improve problematic invoicing compliance
- Why manual invoice processing equals frequent errors
1. Only a comprehensive solution allows to noticeably improve invoicing operations
Why e-Invoicing?
- Business partners requirements (Partner already uses e-Invoicing, Paper
invoices are no longer accepted by many organizations) - Legal requirements (Country-specific regulations, EU Directive 2014/55/EU
on e-Invoicing to public authorities) - Internal requirements (Transparency and responsiveness, Reduction of
error rate and corrections)
e-Invoicing optimization includes
- Reduction of costs
- Increase in costs flexibility
- Improvement in workflows and working capital
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2. The current invoicing situation in the business landscape
We live in a digital world. However, according to Comarch’s research, the majority of organizations still receive most of their invoices in paper format/scanned (77% - medium and high volume combined) or manually entered email/PDF (68% - medium and high volume combined).
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3. The future of invoicing – predictions and speculations
- 50% of back-office processes are expected to be substituted by RPA solutions in the upcoming years*
*Billentis report
- Many jobs in the invoice processing area will become automated by 2035
*Oxford University
- Jobs that will be automated include:
Data Entry Keyes, New Account Clerks, Procurement Clerks, Claim Adjusters, Bookkeeping, Accounting, Auditing Clerics, Checkers, Billing and Posting Clerks, Surveying and Mapping Technicians, Bill and Account Collectors, etc.
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4. What invoicing compliance problems are encountered?
- More than half of the companies underlined ensuring tax/VAT compliance (63%) and the integrity of invoice content (54%). Fail to comply with those formalities and you may face unnecessary additional cost and create a risk of liability for those responsible for tax settlements.
- One in five companies reported many problems with archiving rules (22%) and protection of sensitive data (21%). In the event of a security breach, losing company’s crucial data (e.g. personal information of customers) results not only in fines but also in serious loss of reputation and clients’ trust.
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5. How to improve that problematic invoicing compliance?
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6. Manual invoice processing equals frequent errors
Main reasons behind payment delays by B2B customers
| Incorrect information on invoices | Invoice sent to a wrong person |
Asia Pacific | 26% | 19% |
The Americas | 26% | 21% |
Europe | 15% | 12% |
* Comarch’s own survey
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7. Status of automation: what companies have now vs. what would like to have in the future
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8. Improvements that companies observed after implementation
e-invoicing | | Manual processing |
5-7 minutes / invoice | up to 20 minutes saved up | 25 minutes / invoice |
4,50 euro / invoice | 6,60 euro saved up | 11,10 euro / invoice |
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9. e-Invoicing makes a difference
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10. Comarch e-Invoicing saves the day