B2B Payments

eInvoicing’s Mediocre Reputation Among Corporates

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Electronic invoicing firm Exchange wanted to get inside the minds of companies that haven’t yet deployed eInvoicing solutions. The results, summarized for the company’s eInvoicing Survey 2016, have been released and offer some insight as to why organizations remain stuck on paper invoicing.

The findings of the survey, which assessed the views of nearly 200 professionals, found that 94 percent of them consider eInvoicing to have either high or medium saving potential for their organizations. Meanwhile, one-third said they consider eInvoicing to be a catalyst for other optimized processes within their companies.

For the companies interested in an eInvoicing solution, the majority (60 percent) said they are hoping to take advantage of the experience that the solution provider has, rather than independently create their own eInvoicing solution.

Despite the promising figures, Exchange concluded: “The overall message does not change.”

That overall message is that a lack of information on eInvoicing, coupled with resistance to change from within the company, are still the top challenges for professionals looking to adopt automated invoicing solutions.

Exchange also reflected on some of the figures on how corporations view eInvoicing solutions, noting that the reputation of these services has room to improve.

“Despite the potential to save costs, isolated eInvoicing projects do not seem to be very popular,” Exchange said in its report. “Only 27 percent see it as a driver for other projects aiming to optimize business processes.”

The data on corporates’ eInvoicing views follows research released by Billentis earlier this year. That report concluded that a slow-and-steady mentality to adopting automated invoicing tools may not be the best approach.

“In today’s erratic economy, business agility is more important than ever before,” Billentis said in its report.

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