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.
Why You Need An e-Invoicing Solution
The orange area 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