Billentis Market Report 2017: Significant market transition lies ahead
E-invoicing drives digitalization
The focus is shifting from e-invoicing to digital transformation of business processes. The Billentis Report 2017 gives insight to the drivers and trends in the e-invoicing market.
According to the annual market research report authored and published by Billentis and sponsored by OpusCapita, the volume of electronic invoices will achieve at least 36 billion worldwide in 2017. The annual growth rate for e-invoices is 10–20%.
The growing volumes of electronic invoices are the result of new government initiatives, business process automation, and emerging technologies, among other drivers. The rapidly changing market is requiring businesses and organizations to take a proactive approach toward digitalization.
“Competitive advantage is gained by focusing on the full digital transformation. E-invoicing is a key enabler in automating accounts payable (AP) and accounts receivable (AR) processes but the real competitive advantage comes through improved cash and working capital management", comments Patrik Sallner, CEO, OpusCapita, on the Billentis report.
Over 300 000 public sector administrations and agencies in EU member states will be obliged to support the new European norm in e-invoicing from the end of 2018 or 2019. It will affect the suppliers to the public sector and prompt almost all organizations to act.
Learn more on these and other major market developments, and get the latest insight to electronic invoicing and digitalization from the global market overview in the Billentis Report. Read also our foreword on the digital age we are living in.