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Fact & Figures

Recent research carried out by Deutsche Bank shows that the average cost of processing a conventional paper based invoice at approximately €17.60 and the typical cost of generating the invoice at €11.10.

 

INVOICE GENERATING COSTS

Paper Invoicing

Electronic Invoicing

Printing

3.90

€ 0.24

Payment Reminder

€ 0.50

€ 0.40

Remittance & Cash Management

€ 4.50

€ 3.00

Archiving

€ 2.20

€ 0.80

TOTAL

€ 11.10

€ 4.44

 

INVOICE PROCESSING COSTS

Paper Invoicing

Electronic Invoicing

Receive

1.10

€ 0.00

Codification

€ 3.00

€ 0.00

Validation & Matching

€ 4.00

€ 1.20

Dispute Management

€ 2.50

€ 2.00

Payment

€ 4.80

€ 2.00

Archiving

€ 2.20

€ 0.80

TOTAL

€ 17.60

€ 6.00


** Above figures Released in Deutsche Bank annual Report and are based on the estimated task costs involved when generating and processing invoices.

Interesting Facts

  • Since implementing e-invoicing within the Public Sector back in 2005 the Danish Government as of 2009 have saved an estimated €100 million.

 

  • Moving from paper invoices to e-invoices will generate savings of around EUR 240 billion over a six-year period for the EU.
     
  • Estimates provided by the Irish government suggest that the cost to the government when processing a paper based invoice averages at approximately €60.

 

  • The Irish Government stands to make savings of approximately €240 and €400 million upon making e-invoicing mandatory within the public sector.

 

  • Leading countries In E-invoicing: Brazil, Mexico, Argentina, Chile, Denmark, Sweden, Finland, Norway.

 

  • Deutsche Bank estimates that 16 Billion invoices are sent and received each year within Europe.

 

  • The European Commission has estimated that European wide adoption of e-Invoicing will deliver savings of: €64.5BN Per Annum. 1 Million tons of CO2 Per Annum