Electronic Invoicing - crystal ball
What evidence is there that this electronic invoicing nonsense is going to make any difference to my business? Convince me.I'm interested in what others are doing with electronic invoicing, it helps me to understand how this is developing and what the potential implications are for my business. I'm convinced.
So, which camp do you belong to?
Few want to be first to jump in on a new wave of innovation as it hits business and getting the timing right is always a tricky business. Now, where is that crystal ball?
Caveat
Now, settle down, settle down. Hell, I'm an old man, it's early in the morning and I'm gathering my thoughts here." Donald Rumsfeld.
With that in mind here is something to digest.
Breaking News
I received the following information in an e-mail newsletter from expp-summit who keep a close eye on the e-invoicing market. They report the market is growing fast, really fast.
- Mid-2006, around 360,000 European corporate and other organisations were using e-invoicing
- Outlook is this will increase to 630,000 in 2007
- The highest growth rates are expected in the Nordic countries, the UK and Benelux
- All industries are affected by this trend
- The public sector is prominent in delivering growth. Click here for UK news
- The processed B2B volume is expected to reach 420 million e-invoices this year (+75% year on year)
Quick look at the crystal ball: 420 million e-invoices and 630,000 users. Excel calculates that each e-invoicing user sends/receives 666 e-invoices annually. It's a start but hardly a sea change in how invoices are processed across a substantial number of organisations.
Truth is that we know that some organisations have substantially eliminated paper invoices and some have achieved 100% paperless invoicing. Others are infant in their implementation of e-invoicing.
The startling thing is that 360,000 or so organisations and growing fast in number have the capability to expand their implementation of e-invoicing. Many of these will be big organisations with 1000s of suppliers. The company I work for is implementing e-invoicing for businesses that has 5,000 suppliers and another has 30,000+ suppliers.
Let's look at the numbers another way.
360,000 organisations are engaged in e-invoicing - buyer and supplier side.
Every organisation that is currently engaged in e-invoicing expands its use to another 10 counterparties.
The number is now 3,600,000 engaged in e-invoicing.
This is not a crazy number as we have projects engaging several thousand suppliers. It is also not that far short of the number of SME businesses in the UK so if this number were across Europe then this is highly believable.
Changed your mind?
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Labels: e-invoicing, electronic invoicing, expp, statistics
posted by FrankB @ 10:36 AM
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