Given the profound benefits of e-Invoicing, it is remarkable that only a little over 8% of global invoices in 2014 will be processed electronically, according to Billentis’ 2014 E-Invoicing / E-Billing report.
For some time I’ve argued that what you call something doesn’t necessarily matter – it’s whether you get out of it what you expect, and what you need that’s important. Take making a cup of tea for example – I can put a pan on the hob and wait for the water to boil, or I can flick a switch on a kettle. Both processes are boiling water – one is just e-boiling... which process I follow depends on time, resources and a large helping of common sense.
In the days before the internet, AP departments dealt solely with paper and all transactions were manual – right? Well, not quite. In those days the new kid on the block was EDI (Electronic Data Interchange) which for the most part relied on VANs (Value Added Networks) to transmit data – such as purchase orders and invoices – between suppliers.
Over the last few years there’s been a shift towards creating a centralised P2P function, connecting AR, AP and Procurement in a way which would have been unthinkable until relatively recently. It’s a journey which has had mixed results along the way.