28 October 2016
Bo Harald

Good for society at large

Bo Harald - ZEF and Real Time Economy Program

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Innovation in Financial Services

Innovation in Financial Services

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.

Why you should ASK for proper e-invoices

30 January 2014  |  3459 views  |  0

With proper I mean structured e-invoicing - not e-mailing PDFs (as bad as paper mail - or even worse due to spam filters..).

So why?

Your supplier

Especially small enterprises can easily move into e-invoicing as so many service providers - among them almost all banks by know offer simple input templates both for single invoices and file transfer. I know it - as I keep doing this in my own firm.

1. gains convenience - as many - if not most of his/her customers demand e-invoices

2. saves cost in the region of 2-9€ per invoice as payment approval and payments can be automated

3. saves much more when accounting, cash flow estimates and especially VAT-reporting etc is automated by automatically extracting needed data from sent (and received) e-invoices

4. can start moving to real time financial administration - huge additional benefits

5. contributes to lower CO2


1. gain convenience - especially when able to approve payments with simple A-answer to mobile alert

2. save costs - in the region of 15-40€ per invoice 

3. save much more when accounting, cash flow estimates and especially VAT-reporting can be automated by extracting needed data from sent and received e-invoicing

4. can start moving to real time financial administration - huge additional benefits

5. contribute to lower CO2

6. your employees can move from routines to more interesting, more productive and better paid jobs

Society at Large:

1. Large cost savings in public sector from adopting e-invoicing and automated reporting processes and accounting > lower tax pressure (cost for you and your customer).

2. Efficient and cost efficient grey economy counter measures. Just and wider tax collection > lower tax pressure and better rule of law

3. Better productivity as scarcer workforce can move in higher value tasks.

4. Lower CO2 (10m tonnes on EU-level)

Productivity leap! Anything else coming even close? 

Time for Action. Mr Somebody Else will not do it..



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