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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.
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
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