What is e-invoicing?
Electronic invoicing (e-invoicing) is the exchange of the invoice data between a supplier and a buyer in an integrated electronic format. Increasing government mandates around the globe are making the uptake of e-invoicing compulsory, with Latin America being the first and biggest adopter. Europe is close behind with Italy having already implemented e-invoicing, being closely followed by Portugal. Many UK companies are now also adopting it to ensure compliance in the future.
The orange area in in the image opposite (courtesy of Trustweaver) shows Countries that have adopted e-invoicing and how the spread of adoption is predicted by 2025.
Alongside a requirement to comply there are also huge benefits to be gained :
• Reduction in manual effort and human error in data capture
• Increased vigilance to protect against fraudulent practice
• Sustainability Strategy/Green initiatives
How does it work?
The team at Documation are perfectly placed to help. We can provide advice and consultancy on e-invoicing and we can equip you to receive and send e-invoicing transactions as well as providing process automation to help you capitalise on the benefits. Integrating our BPM with an e-invoicing network provider means that the content, integrity, authenticity, processing and archiving requirements are met for all transactions.
Documation solutions can integrate e-invoicing and e-purchasing within most finance systems, full details of our integration with ERPs can be found here.
We are confident we can offer our customers the most up to date and cutting edge e-invoicing and automation technology, constantly updated in line with new legislation
If you want to know more about e-invoicing, and how it may affect you get in touch!Get in Touch