Electronic Billing and Invoicing Could Save Businesses 80%

According to findings from this year’s Billentis Report sponsored by Ricoh, 42 billion e-bills and invoices are predicted to be issued worldwide this year. This annual report provides market data and analysis to help organizations become more informed on e-billing and invoicing. Now Ricoh encourages European businesses to speed up towards full e-billing and invoicing which could save up to 80%.

Edward Gower-Isaac, Vice President, Business Process Services at Ricoh Europe says, “Digitisation is undoubtedly a key driver of the growing pan-European appetite for e-invoicing. Businesses realise that ‘going digital’ is no longer a differentiator, but a paramount requirement for any organisation with hopes of a long-term future. In a 2014 survey conducted by Coleman Parkes, sponsored by Ricoh Europe, 73% of business leaders said that achieving digital maturity would directly lead to an increase in profits, while 62% agreed that it would increase their organisation’s appeal to potential investors and new owners.”

In this study, it was also revealed how 50% of business leaders found they could not achieve digital maturity without the support of an external partner.

Besides, digitalization of invoices is not enough for businesses to fully achieve automated invoicing. Many European businesses still have high exception handlings due to poor or inaccurate data in the invoices. Inaccurate information on B2B invoices is a main reason for payment delays.

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