The majority of companies today still rely on paper invoices rather than electronic invoicing and archiving. By not switching to paperless invoicing, they are missing out on the benefits e-invoicing and e-archiving can provide, such as increased efficiency, cost reduction and faster payments. So what is preventing companies from "going electronic"?
It seems that the real obstacle is not a lack of appropriate technology to support the system nor is it the absence of a legal framework (as both of these are already in place). It is instead a lack of knowledge about the specific legislative requirements, and the strategic, operational and technical considerations that need to be taken into account in order to adopt e-invoicing and e-archiving.
PricewaterhouseCoopers’ publication
Global (e-) invoicing and (e-) archiving: Increasing efficiency and reducing costs intends to help fill this information gap, equipping companies to take advantage of the benefits an electronic billing system can offer them. It provides companies with practical advice and guidance on the rules and on how to go about implementing such a system. It also offers a global perspective, focusing on the relevant VAT/GST invoicing and archiving rules in 41 countries worldwide.
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