Inefficient invoice management processes are costing European businesses billions of Euros each year. This white paper examines how hybrid solutions are allowing businesses to grasp immediate gains from digitisation and data extraction, while also providing a migration path to eventual e-invoicing.
Key points
• Medium and larger European businesses (100+ employees) stand to save €28bn every year by improving the efficiency of their invoice processing • A much more immediate opportunity lies in reducing the cost of processing paper invoices, by digitisation and data extraction at the point of receipt • In a time of private and public sector austerity, as well as a credit squeeze for borrowers, businesses are keenly seeking ways to release funds for investment in the emerging economic upswing • Since paper invoices are likely to remain the dominant medium for the remainder of the decade. European businesses would be well advised to seek hybrid solutions that allow them to grasp the immediate gains from digitisation and data extraction, while also providing a migration path to eventual e-invoicing
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