e-invoicing: Removing Barriers to Credit Collection
How e-invoicing is dramatically shortening order to cash timeframes through improved efficiency and visibility in the credit collection process.
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Excerpt from the white paper:
Collecting money fast is always a major competitive edge. In increasingly competitive markets, businesses turn to innovations in credit collection to shorten the order to cash timeframe. The biggest innovation in recent years, at the frontier of credit management, is electronic invoicing, or e-invoicing.
Despite the rapid adoption of e-invoicing in certain regions (for instance 90% of invoices sent in Brazil) only 1 in 5 SMEs in the EU have sent or received an electronic invoice. Meanwhile, closer to 40% of EU-based enterprises have adopted e-invoicing, as they fight for competitive edge. Overall, there is a global acceleration of adoption, currently estimated to be a 20% year-on-year growth.
This paper examines the most common challenges faced in B2B credit collection, and how e-invoicing enables businesses to address these through improved efficiency and visibility of process.
It is no longer the case of whether e-invoicing will become industry standard, rather when. Businesses who capitalise on early adoption of e-invoicing experience significant competitive advantage, and are setting the direction for others to follow in their markets. We are no longer talking about early adopters, these businesses are leaders.
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