Tim Cole, Causeway Executive Vice President and Chair of the BASDA eBusiness SIG, has written article on e-invoicing for Chartech, the magazine of the ICAEW, outlining the key benefits of e-Invoicing and provided useful pointers to choosing the right service provider:
“Few things in life save time, reduce costs and are environmentally beneficial. e-Invoices truly can achieve all three,” he notes. “The past 20 years have seen a gradual process of acceptance that paper-based invoice exchange and the manual re-keying of data is simply not an efficient way to move information between different software products.”
Tim also points out that the adoption rate of e-Invoicing is rising at around 20-30% in the private sector (Billentis’ 2012 E-Invoicing Report), while the UK government has not moved to require such adoption within the public sector and he comments that “Full adoption (by the UK public sector) could save around £4-6bn a year. The wider economic benefits are projected to be more like £22bn-£28bn a year – and for only modest levels of investment”