LAWRENCEVILLE, NJ – August 22, 2023 – Billtrust, a B2B order-to-cash software and digital payments market leader, released its first annual E-Invoicing Interoperability and Compliance Report, offering a view into the ever-changing global electronic-invoicing requirement landscape, featuring dynamic regulatory and technological developments.
In addition to an extensive compilation of current B2B and B2G European invoicing mandates, the report spotlights insights, trends, rules and regulations to assist companies and organizations that are considering or planning to implement their own international e-invoicing initiatives.
“Electronic invoicing is here to stay,” said Billtrust CEO Sunil Rajasekar. “More than 100 countries have moved or started moving towards e-invoicing, and by 2030, it is expected to be the predominant model worldwide. E-invoicing is also a crucial component in meeting new regulatory obligations imposed by tax authorities. This new report provides a vital resource for B2B companies while underscoring that the need for digitization in accounts receivable has evolved from being optional to a key imperative.”
The E-Invoicing and Compliance Report outlines:
- The invoicing process and the dos and don’ts of e-invoicing.
- The potential of e-invoicing for suppliers, buyers and tax authorities.
- The types of e-invoicing currently in practice.
- The two-, three- and four-corner models of exchange, as well as the still-in-development five-corner model, to ensure e-invoicing interoperability.
- The European Commission proposal, “VAT in the Digital Age” and its implications.
- Peppol (Pan-European Public Procurement Online), a common set of e-invoicing specifications and a network, based on a four-corner model, where businesses can exchange information.
“The number of international e-invoicing mandates in operation requires a level of understanding that many companies can’t achieve on their own,” said Marco Eeman, Managing Director, Europe, Billtrust. “Navigating this complex landscape of mandates and regulations effectively means firms will be able to remain internationally compliant and be confident they can continue to conduct business in every market they wish to operate.”
Finance leaders turn to Billtrust to control costs, accelerate cash flow and improve customer satisfaction. As a B2B order-to-cash software and digital payments market leader, we help the world’s leading brands get paid faster while transitioning from expensive paper invoicing and check acceptance to efficient electronic billing and payments. With over 2,600 global customers and more than $1 trillion invoice dollars processed, Billtrust delivers business value through deep industry expertise and a culture relentlessly focused on meaningful customer outcomes.
Paul Accardo[email protected]