B2B Payments

eInvoicing's Mediocre Reputation Among Corporates

Shutterstock

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.

——————————

NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

Click to comment

TRENDING RIGHT NOW