An increasingly growing number of UK small and midsized businesses use e-invoicing technology, according to a survey by the Federation of Private Business (FPB). FPB is a membership organisation for small businesses. Below are some clear results of their e-invoicing survey with 4,000 of its members.
1
47% said they would use e-invoicing by the end of the year. Respondents planning to send e-invoices to all customers indicate that they believe it would improve prompt payment.
2
38% have no plans for e-invoicing. They cite a number of barriers, most notably the difficulty in linking the technology to current credit control procedures.
3
35% of firms are looking to spend on existing systems to get them working better. 31% are not looking to invest at all in the coming year.
There also appears to be less enthusiasm for cloud computing and mobile technologies. Huh? (ed.):
1
Business owners are split around the benefits of cloud computing, with 27% supportive and 26% suggesting the disadvantages outweigh the benefits.
2
The main disadvantages cited for cloud computing are:
- data security: 33%
- lack of understanding: 31%
- connectivity issues: 23%.
- data security: 33%
- lack of understanding: 31%
- connectivity issues: 23%.
3
44% of businesses surveyed feel that 4G mobile technology will have only a slight effect on the way businesses operate, with just 4% of the opinion it will be significant. 34% feel it would make no difference.
4
25% of UK SME businesses say that improved broadband speed is the key support needed by businesses.
Source: UK Small businesses embrace e-invoicing
Cláudia Wada on