Companies willing to adopt e-invoicing, but lack senior leadership support - report

Monday 21 July 2014 10:57 CET | News

The percentage of companies committed to begin e-invoicing within 12 months more than doubled to 5 % from 2 % in 2013, recent findings indicate.

According to the 2014 Order-to-Cash (O2C) Automation Study conducted by The Institute of Financial Operations and sponsored by US document process automation company Esker, about 10 % of respondents plan to automate order processing within six months, and 5 % plan to make the conversion within 12 months.

However, even though there has been a significant move toward O2C technology, automation is still is not the norm. Nearly 50 % of survey respondents cited factors such as a lack of senior leadership support for technology initiatives and internal unwillingness to pursue process changes. A comparison with the IFOs 2013 Accounts Receivable Automation Study shows that lack of senior-level support for technology initiatives jumped to 20 % from 6 %, lack of internal support for technology changes increased to 20 % from 14 %, lack of internal support for process changes increased to 10 % from 6 %.

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Keywords: e-invoicing, senior leadership support, report
Categories: Banking & Fintech
Countries: World
This article is part of category

Banking & Fintech