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The e-invoicing revolution

e-invoicing revolution
This is unbelievable! Look at the heat map on your left. It shows adoption of e-invoicing across the geographies, the unbelievable part is developed countries like US, Canada, UK, Australia are still considered to have average adoption of e-invoices, where as Brazil, Mexico & a few other regions are leaders in adoption digital invoicing platforms.

Other interesting facts we came across cite that the expected volume of online invoicing will reach around 42+ billion worldwide with the annual growth rates of up to 20%. The novel approach taken by a few countries have really helped improve adoption of e-invoicing in their region. Electronic invoicing push by Norway is a great example, the Norwegian approach to online invoicing has allowed over 2.7 million online invoices in more than 10,000 public and private sectors. More than half a billion Norwegian business send their invoices electronically instead of traditional paper.



In Australia government is actively taking steps to switch to online invoicing. Deloitte Access Economics research in Australia has found out that the businesses transition from paper to online invoices see lower processing costs, fewer payment errors and improved supplier relationships. This could nearly save them $12.15- $28.80 per invoice.

Brazil has achieved the highest market penetration (>90%) globally for online invoices. Meanwhile, almost 1 billion electronic invoices are exchanged every month in the country. This result was possible due to the strict implementation of its Electronic Invoicing obligations.

Even Mexico has joined hands in this revolution and is quickly becoming one of the countries to adopt online invoicing (around 75%).

And the list goes on. These countries are having their businesses prosper and saving a great deal of processing time, production cost and avoiding other kinds of manual error. You can also boost up the growth of your company, all you need is a simple yet multi featured software. Topnotepad is one such software that offers you many features of online invoicing. Creation and sending of the invoices is much easier. You can easily access it from anywhere and at anytime. You can also store and access the client’s contact details, their purchasing history etc. There are many more other advantages of online invoicing that the software offers which is going to be very fruitful for your company.

Try out our software for free and you are never going to look back to paper invoicing again.

Data source: www.billentis.com

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