In a report conducted by the European E-invoicing Service Providers Association (EESPA), Europe has seen a sharp increase of 23 % in the number of e-invoices being processed in 2017 compared to the previous year.
With a surge in both B2B and B2G e-invoicing requirements in Europe, these findings are no real surprise. The surveys key discoveries displayed an increase of 18.9 % in e-invoices delivered directly to customers, while a significantly higher increase of 36.6 % in e-invoices delivered to e-invoicing service providers, and a total of almost 2 billion e-invoices processed 2017.
Nazar Paradivskyy, Head of Compliance at Pagero, commented on the report: “I think there are two main reasons for the increase: a changing regulatory landscape together with companies endeavouring to optimise their business processes to reduce costs and to obtain better efficiency by implementing AP and AR automation. As the eProcurement Directive’s deadline approaches, we will see more and more European countries adopting e-invoicing in the public sector, which will accelerate the adoption even more.”
An overview of the development 2015-2017 (source: EESPA):
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