Just like the other EU Member States, the government of Iceland is the next to switch to B2G e-invoicing. According to their calculations they hope/estimate that the shift to electronic invoicing saves some EUR 330.000 a year. Not mind blowing, but still a considerable saving for a small economy.
The government’s central Information Technology (IT) organisation, Upplýsingatækni, said: “This is an important step in the development of electronic commerce in Iceland. This move will undoubtedly encourage companies to adopt e-invoicing as well.”
In preparation for the switch the Ministry ran a number of successful Pilots with Iceland’s hospitals that made costs savings, reduced workloads and lowered interest payments.
Electronic invoicing was one of the recommendations made by Iceland’s Government Efficiency Group, which was asked in 2013 to come up with ways to reduce costs and speed-up tendering processes for all of Iceland’s public administrations. Along with eInvoicing, the committee has also advised the adoption of electronic procurement.
