As more businesses move away from paper invoices, it’s important to know that genuine electronic invoicing is more than just sending digital documents. As we’ve covered before in the What is an e-invoice blog, e-invoices are issued and transmitted digitally between the financial systems of a buyer and a seller. This means zero paper or PDFs, which require manual export and import of data.
Why then, is there still so much disharmony in the world of e-invoicing? Much of this has to do with how B2B e-invoices are defined by country and region, a lack of standardization across the industry, and varying levels of market maturity around the world.
Despite these inconsistencies, Billentis states in The e-invoicing journey 2019-2025 that by 2025, “80% of organisations will be forced either by legislation or important trading partners to exchange invoices just in electronic format,” (B. Koch, 2019).
This doesn’t leave much time for companies that are still reliant on paper or PDF invoices to get ahead of these changes, but the right solution is out there!