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The USA are preparing to select a technical e-invoicing standard

The USA are preparing to select a technical e-invoicing standard

The USA is noticing that e-invoicing is becoming more and more dominant. Currently a large number of electronic invoice technical standards exist in the U.S. market, resulting in a fragmented market and interoperability challenges among standards.

Today, it is calculated that over 250 e-invoice service providers operate in the U.S. market. They create, send, and receive more than 15 different e-invoice formats and 40+ different subsets, creating a complex and diverse environment for electronic invoicing in the U.S. Also, banks and financial software providers are taking up the role of e-invoicing service providers, which increases the diversity and fragmentation.

The lack of interoperability between the differing syntaxes , formats, and subsets and the various service providers and systems creates headaches for end users. Often times, U.S. businesses interested in electronic invoicing are required to integrate directly with their trading partner’s system or join a network to which their trading partner belongs, resulting in additional cost burdens to the business

All in all, this impacts U.S. businesses negatively by driving up the complexity and operating costs involved in sending and receiving electronic invoices. Creating a major barrier to adoption for U.S. businesses.

Before an e-invoice technical stand can be established

Before an e-invoice technical standard can be established, as called out in the U.S. Adoption of Electronic Invoicing: Challenges and Opportunities whitepaper, there is a need to catalog the current electronic invoice (e-invoice) technical standards in use by U.S. businesses to understand the major obstacles that exist in the current business environment.

That is why the Business Payments Coalition convened an E-Invoicing Work Group that has come up with the “Catalog of Electronic Invoice Technical Standards” It should lay the foundation for the U.S. market on selecting an invoice standard to accelerate the adoption of electronic invoicing by U.S. businesses.

Understanding the diversity of the U.S. marketplace helps identify the challenges market participants face related to interoperability, integration, and adoption and will help identify a unifying, open e-invoicing technical standard that spans all sizes of businesses and all industry segments.

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