Electronic and automated invoice processes can result in savings of 60-80% compared to traditional paper-based processing. Projects typically result in a payback period of 0.5-1.5 years. This report will show how to achieve these results.
The growth rates for electronic exchange and archiving of bills/invoices are impressive, but the potential is still tremendous. Of the 500 billion bills/invoices globally, 40 billion are estimated to be exchanged in 2014 paperless (14 billion consumer bills and 26 billion invoices in the business and goverment segment). Latin America contributes around 25 billion to this electronic volume, Northern America 7, and Europe 6 billion.
The game changers of eInvoicing & eBilling in this report are:
- 45-65% of all companies in a country are suppliers to the public sector. In most European and some Asian countries, the public sector is expected to become one of the key drivers for the eInvoicing market
- Millions of small and medium enterprises (SMEs) have to replace paper invoices with eInvoices, mainly due to projects of large customers and the public sector
- Solution providers were the market-makers for the last decade