The use of e-invoicing has seen steady growth since last year
Purchasingb2b print edition: October 2011
While its implementation may be gradual, the use of e-invoicing has seen steady growth since last year, according to research sponsored by enterprise purchase-to-pay company Basware and conducted by the professional association of The Institute of Financial Operations.
The top financial priority for those surveyed was improving operational efficiency, the report said, and the majority recognize e-invoicing’s importance while noting negative consequences from relying on manual processes.
The 2011 e-invoicing survey results show about one-third don’t use e-invoicing. That compares with last year’s survey in which 58 percent used a manual data capture and approval process for receiving invoices.
The majority of respondents think there’s room for improvement in how companies use technology for invoicing. The survey also identified challenges in sending and receiving non-electronic invoices, including time spent entering and scanning invoices, securing approvals and tracking misplaced invoices.
Surveyed companies noted speeding up invoicing processes and reducing costs were the main reasons to implement e-invoicing. Almost half said they can receive and process invoices electronically, and a quarter can send invoices electronically. However, 76 percent indicated they receive invoices as PDFs and 50 percent of them print out e-invoices for further processing.
Overall, 434 respondents were surveyed last spring and summer. Most (82 percent) were in North America, with 16 percent in Europe and others in South America and Asia.