The attempt to optimize the circulation of incoming and outgoing documents in companies is a powerful driving force for the development of modern IT solutions. The demand for such specialised systems is on the rise, what is reflected in the current business reports. According to the Electronic Invoice Adoption Benchmark as many as 46% of enterprises are evaluating the usage of software facilitating e-invoicing.
What are the key drivers that encourage companies to focus on e-invoicing? 68% of entrepreneurs point out to the reduction of overall processing costs. 46% of respondents strive to speed up invoice approval cycle times, while 52% of companies expect to remove paper from the performed transactions. Another important contributing factor is the reduction of lost invoices (28%). Moreover, entrepreneurs emphasise the following issues: better management of accounting processes, strengthened relations with business partners and more convenient access to documents in case of audit.
Significant business potential of EDI solutions contributes to the fact that such systems are quite widespread in various branches, retail in particular. The deployment of EDI system by Infinite at Fackelmann Poland can serve as an example. “EDI system allows Fackelmann Poland to enhance the cycle of documents interchange (invoices, corrective invoices, delivery notes), what contributes to the substantial cost cuts related to the order processing. The whole supply process with our chains was streamlined thanks to quicker transfer of logistics information.” – Krzysztof Ogrodnik, the Chairman of Management Board at Fackelmann Poland, points out.
Yet some concerns of entrepreneurs regarding the implementation of e-invoicing cannot be ignored. 64% of respondents consider limited IT resources as the major barrier. It is an undeniable challenge, yet IT outsourcing comes in handy here. By opting for outsourcing one can devote the process of deployment and system maintenance to an entity that possesses proper infrastructure and know-how.
Aside from large enterprises which depict faster ROI due to a bigger volume of the documents processed on a daily basis, also more and more SMEs open to the vast possibilities offered by EDI solutions.
Source: Electronic Invoice Adoption Benchmark Report 2013, Paystream Advisors