Technology Update
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Billentis report: What lies in store for e-invoicing in 2017?
10/02/2017
For years, we have seen how electronic invoicing is growing apace worldwide. And 2017 will be no exception. The latest study preview on E-Invoicing/E-Billing International Market Overview & Forecast, due for publishing next spring, estimates an increase of 13% for businesses and the public sector. In the case of B2C segment, the spread could reach 12%.
In total, calculations point to the volume of e-invoices exchanged reaching 36 billion. In this scenario, Latin America will again take a prominent role. The Billentis report preview states that the region is likely to shift around 15 billion electronic invoices, of which 9 billion correspond to the B2B2G sphere.
In Europe the figures will also increase compared to last year’s results. The B2B2G volume is expected to reach 5.5 billion. In invoices sent to final consumers, the figure is expected to come close to 4 billion due to the advance of digitization.
Nevertheless, the main news for 2017 is the volume that will start to be provided by two regions which so far had remained on the sidelines of this technology: North America and Asia-Pacific. On one hand, e-invoicing will be compulsory in the United States from 2018 for suppliers to the public sector. On the other, Asian countries such as Indonesia and Vietnam have closely followed Latin America’s progress with this technology and are beginning to import its e-billing model.
How are electronic invoices sent?
The Billentis preview highlights that businesses are increasingly turning to technology providers like EDICOM to send and manage their e-invoices. In fact, the volume of documents processed by operators is expected to increase by 17% in the B2B, B2G and G2B segments. In addition, growth of roughly 13% is also expected in the volume of e-invoices to consumers handled by service providers.
One of the main reasons for this trend towards e-invoicing outsourcing is the automation through the use of specialized solutions. This is the case, for example, of the Global E-Invoicing platform. This tool, developed by EDICOM, can create, send, declare and store e-invoices with practically no need for human intervention. The process takes place instantly, meeting the requirements set by tax agencies from more than 60 countries around the world.
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