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E-invoicing Success: Part II 

Discover how your business can achieve e-invoicing success by understanding the implementation and future opportunities it brings.

Manual Labour

In the invoice processing cycle, there is a high proportion of repetitive and time-consuming tasks, for both issuers and recipients.

  • More than 90% of all invoices worldwide are still processed manually
  • E-invoicing reduces the proportion of manual exception handlings to a rate of 20%

A Virtual Workforce

  • 50% of back-office processes are expected to be substituted by Robotic Process Automation (RPA) solutions in the coming years
  • Robots replicate the actions of a human, such as entering data into a system
  • By 2024, the global RPA market is expected to achieve a size of $8.75 billion

Paper Processing

30% of all invoices are treated as exceptions resulting in very high processing costs
Tip: process invoices in a shared service centre to improve efficiency and substantially reduce processing costs

  • Electronic document distribution makes it easier to find individual documents for audits or customer queries
  • Late detection in invoice errors on hard copies results in delayed payments
  • Compared to paper invoices, e-invoicing results in cost savings of 80%

“We’re already seeing a cost saving into month five of the project, so we’re very happy!” – Peak Cashflow

Sources:
Peak Cashflow Case Study
Billentis Report 2017 

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