Today, most e-invoicing “ecosystems” and standards are local - either country based, service provider based, invoice sender/receiver based or de facto “standard” email- based. There has also been a lot of discussion around international/EU wide standardization, but not that much is happening in real life.
So, what is hindering the EU from just doing it? Itella Information strongly believes that European level e-invoicing doesn’t have to be a distant dream, however, in practical terms there are a few things that have to be in order to really make it happen: legislation, business model, interoperability, and last and perhaps actually the least challenging - technical standards. Listen to their story:
The Beijing State Tax Bureau, the Beijing Local Taxation Bureau, the Beijing Municipal Commission of Commerce, Beijing Municipal Administration for Industry, decided on 27 June 2013 to start with electronic invoicing pilots.
China's e-commerce giant 360buy Jingdong Mall (www.jd.com) is one of the first companies in the Beijng area to start using electronic invoicing for individual buyers. Electronic invoicing, as part of the pilot project, is available to customers that buy books and video products in Beijing. Customers are free to choose paper invoices or electronic ones. The move is aimed at promoting electronic invoicing and improving the development of e-commerce. The following is derived from the original announcement:
The European Commission has issued a DRAFT directive on e-invoicing in public procurement. Accompanied by a EU communication setting out its vision for the full digitisation of the public procurement process (so-called 'end-to-end e-procurement'), the Commission estimates that the adoption of e-invoicing in public procurement across the EU could generate savings. Savings of up to a lousy €2.3 billion.
Yes, a lousy €2.3 billion. Because that is what The Netherlands can save with e-invoicing alone. That said, the press release states that this draft directive proposes the establishment of a European e-invoicing standardwhich is expected to improve interoperability between different, mainly national, e-invoicing systems. It will also help boost the uptake of e-invoicing in Europe which remains very low, accounting for only 4-15% of all invoices exchanged.
Virgin Media is urging its customers to switch over to e-billing, on the basis that this simple step can save them £21 per year. Subscribers who receive their monthly bill online do not require a paper version, and this saves Virgin Media both time and money. Virgin Media is passing the savings back to its customers, providing they opt out of receiving a paper-based bill.
We believe that this is the way to go when switching to e-billing (B2C) or e-invoicing (B2B). In stead of suddenly charging your customers when they still want to keep receiving the paper invoices they were accustomed to. Just remember that your customers aren't hereto help you cut costs, they are here to provide you with revenue.
Two Sides Australia has warned banks that anti-paper statements may be in breach of consumer law. Australia's leading financial institutions have been notified by letter that it is wrong to encourage clients to switch to electronic billing for environmental reasons.
Two Sides is targeting companies that claim that switching to online communication is better for the environment without verifiable supporting evidence, arguing that this messaging is misleading to consumers and encourages them to not use paper.
The open letter said any link "between reducing the use of paper and helping the environment" was "unsupported by facts" and a violation of Australian Competition & Consumer Commission regulations.
Imagine a situation where before calling to your friend you would need to first find out what GSM operator he uses. After that you would need to log in to your own GSM operator website and check if this operator has the connectivity to your friend’s operator. And if it doesn’t, you should take a pre-paid SIM card from your friends GSM operator, insert it into your phone and only then you can make a call to your friend. Extremely inconvenient, isn’t it? Now, it's time that e-invoicing is going to match the international mobile phone arena.Read More
According to a NACHA study of 1,000 US billers, direct payment via ACH (bank transfer) is THE leading US method consumers use to pay their bills.Read More
It may look sinister. But the Electronic Billing Machines (EBM's) are the latest ICT innovation that will help the Rwanda Revenue Autohority to improve its efficiency when it comes to VAT collecting and to combat VAT fraud.
Rwanda has just a mere 7000 registered VAT tax payers. Yet many of them use all sorts of tricks to evade remitting the 18% on the sale of every VAT-charged commodity.
With tablet adoption and user acceptance of ‘push’ mobile banking on the rise, it is thought that by 2017, one in four tablet users will be paying bills via their device, according to a new report from Juniper Research.
The report suggests that these factors will drive users of transactional tablet banking services to almost 200 million in 2017; representing around 19 per cent of total mobile banking customers in 2017, as opposed to nine per cent in 2013.
Currently NASA process 80,000 invoices per year (57% by email, 35% by mail, 6% by fax, 2% by FTP). NASA's current invoice payment process requires manual intervention at almost every step in the process.
E-invoicing will simplify NASA's invoice payment process by eliminating many of the manual steps in the current process and providing capabilities that the current systems and processes do not. An electronic invoicing solution would interface with SAP. Because invoices can be submitted by vendors as data elements via a vendor portal or vendor network, OCR can be eliminated over time.