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At the early stage of e-invoicing it was referred to as “dematerialization”. The benefits were seen as coming from not sending paper mail – but electronic mail.
Now it has become very clear that the real benefits are in keeping the information in structural form (not de-electronizing it by printing or making it into a PDF-picture) and sending it as such all the way to the receiver (no need for expensive manual entering
or scanning). This enables a long list of automation both in enterprises (“cutting administrative costs in half”..) and for their counterparts – especially in the public sector.
Adding the fact that e-invoicing cuts VAT fraud makes it easy to understand why this is getting so much attention now.
Chairman/Founding member, board member
ZEF, Transmeri, Demos, Real Time Economy Program,
04 Nov 2008
This post is from a series of posts in the group:
A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.