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Why do organisations make the switch to e-invoicing?




The History Behind e-invoicing

E-invoicing has been around for many years. The first form of e-invoicing
originates from the 1970’s and was known as Electronic Data Interchange (EDI).
Since then, electronic invoicing has progressed further and further and it is
now at the stage whereby nearly all businesses can adapt and utilize its
functionality in order to improve and streamline accounts operations.

 

The main issues that were associated with EDI were high cost and its resource/labour
intensive nature that was needed in order to implement such a technology into
an organisation. The reason for EDI’s high cost was down to the business
need. The EDI system and format was bespoke- customised to suit the business
in which it was intended for. This resulted in high resource and development
costs.

 

It is well known that only large trading organisation’s could
set aside a substantial budget in order to implement an EDI platform. However
today, thanks to the evolutions of technology and of course the internet,
e-invoicing can be adapted by companies both large and small and rarely does
cost become an issue.

 

Who else uses E-invoicing?

Ahead of the European countries are the less developed South American
Countries such as Brazil, Chile, Argentina and Mexico, whom have all
adopted e- technologies relating to electronic document distribution
and have also made it mandatory throughout both public and private
sectors.  Other European countries such as Denmark have made
e-invoicing mandatory back in early 2005 and have saved an
estimated €100 million as of 2009. Following suit of the
Danes is Norway, Finland, Italy and Spain who have all recently
made e-invoicing mandatory within the public sector.