Corporates demand e-invoicing from banks

April 5, 2011  |  Electronic Invoicing, Research

FUNDtech 230x200 Corporates demand e invoicing from banksAt our recent European client conference, our polls demonstrated that an overwhelming majority of corporates are now demanding e-invoicing services from their banks.

When asked: “If you could easily send an e-invoice as a request for payment to any of your customers through your bank network, would you be more likely to use e-invoicing?” 85% of corporates replied: “yes”, confirming that they would be more likely to adopt e-invoicing if their bank supported it. In addition, 33% of our customers thought that the main barrier to e-invoicing uptake was ‘limited infrastructure and reach’ whilst 38% felt that confusion on compliance and standards also played a part. The provision of e-invoicing services by banks can go a long way to break down this barrier.

Banks are notoriously good at providing reliable, scalable, efficient global transactional services so why should they limit these services to payment transactions? 73% of banks asked do not yet provide e-invoicing services to their corporate customers. Corporates are far more likely to entrust core services like e-invoicing to recognised bank brands than unrecognised, small third party suppliers. Providing e-invoicing capitalises on brand recognition and the increased utility of bank services further cements customer loyalty.

The message for banks is abundantly clear: providing corporate customers with e-invoicing services will result in a satisfied and loyal customer base empowered with the multiple benefits of e-invoicing.

Related articles:
5 Reasons Why Banks Profit from E-Invoicing

E-invoicing & Opportunities For Banks

5 Reasons Why E-invoicing Belongs to Banks

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  1. That would be really helpful for the corporates and hopefully banks would start providing that soon to their customers.

  2. Banks are in general slow to provide new services and I am afraid that corporates should not rely and wait for that. There are also a few e-invoicing companies out there with special focus on getting to the smaller suppliers and hereby help that larger enterprises getting the full benefits of their EDI infrastructure. One that comes to mind as leader in that segement is Sproom