Globally Only 42Bn Invoices Out of Potential 500Bn Are Paperless

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Globally Only 42Bn Invoices Out of Potential 500Bn Are Paperless

 news 2015-07-02 at 12:43:19 pm Views: 206
  • #42908

    Globally Only 42Bn Invoices Out of Potential 500Bn Are Paperless -
    2015 Einvoicing Report Indicates

    Celtrino sponsoring Billentis e-Invoicing report that is considered be the gold standard in terms of the latest trends & state of play e-Invoicing automation.

    Dublin, Ireland, June 27, 2015 — Billentis e-Invoicing/e-Billing Report: Industry report indicates e-Invoicing is still in its infancy with new innovations shaping the future.

    Celtrino are making this expert report freely available to customers and interested parties as indisputable evidence of the benefits that are driving e-Invoicing automation and moving companies to a truly connected world. Celtrino, celebrating 25 years in business, share many of the findings and are happy to offer additional input based on experience. Globally, in 2015, there are 42 billion paperless invoices out of a potential of 500 billion. The European e-Invoicing industry is experiencing growth rates of over 7 % without counting a multiplicity of EU strategic initiatives that are paving the way towards paperless ubiquity.

    Celtrino Managing director, Mr Ken Halpin says, “This is a great independent resource highlighting the current state of play for a global marketplace. The reader can discover important trends and plenty of supporting information for best practice implementation of electronic invoicing and much more.”

    According to the report, e-Invoicing automation outperforms paper based automation in all priority areas identified by Accounts Receivable (AR)/Accounts Payable (AP) departments. AR departments can save up to 59% of costs while AP – an impressive 64%.

    Billentis confirms incorrect invoice information was responsible for 15.1% of B2B payment delays in Europe and neither traditional invoice emailing nor invoice scanning had improved this. In contrast, Mr Halpin states, "Celtrino customers typically experience less than 1% indicating a much more satisfactory outcome for both suppliers and buyers."

    The report highlights innovations in supply chain finance and big data analysis and Mr Halpin affirms Celtrino customers are ahead of the curve compared to their European counterparts, in terms of typical implementations and these development options.

    Billentis reports that e-Invoicing is the first step towards an electronic supply chain and that automation and optimization of the invoice process is typically only 1/3 of total supply chain document potential.

    Mr Halpin says that the broad scope of Celtrino’s e-Commerce Marketplace can deliver the full scale of benefit and “is the very reason that our customers are so excited about making Celtrino the foundation for their electronic supply chain plans.”