In 2016, e-invoicing will continue to spread worldwide. This is confirmed in an update from the Billentis report “E-invoicing/E-billing. International Market Overview & Forecast”, citing Mexico, Chile and Brazil as front runners in the rollout of this technology. Forecasts estimate that Latin American countries will exchange some 22 billion e-invoices, most of them (19 billion) in the B2G area.
Although e-billing volumes in Brazil and Mexico are unlikely to undergo such remarkable growth as in recent years, the technology is now well established and the proportion of bills on paper is dwindling. Moreover, other regions such as Colombia, Ecuador, Argentina, Peru and Uruguay plan to expand this system soon, so the rate of penetration will rise significantly.
The European market will also be highly dynamic in this sense. European Union member states are gearing up to apply Directive 2014/55/EU, which requires the public sector to receive electronic invoicing as of 2018. In view of this, some regions such as Italy, Spain or Portugal have already implemented the mandatory use of this system in the B2G segment. Others such as France, Lithuania or Estonia will do so in 2016 and early 2017.
All over Europe, Billentis foresees 14% growth in e-invoicing in B2B/B2G/G2B scopes and 11% in B2C. Bear in mind that the economic crisis is now more than ever driving both public administrations and the private sector to cut their economic costs and become more efficient. A task in which e-invoicing is proving to be an indispensable ally.