Europe e-invoicing market to reach USD 4217.6 mln by 2027 with CAGR of 17.1%

Tuesday 14 July 2020 14:05 CET | News

The Europe-based e-invoicing market was valued at USD 1,241.7 million in 2019 and is projected to reach USD 4,217.6 million by 2027 at a CAGR of 17.1%.

Electronic billing (or e-invoicing) methods are used by trading partners, such as customers and their suppliers to ensure that the terms of a trading agreement are met. These documents include invoices, purchase orders, debit notes, credit notes, payment terms and instructions, and remittance vouchers. The Accounts Payable department’s primary responsibility is to ensure that all outstanding invoices from suppliers are approved, processed, and paid. Invoice processing involves recording important data from your invoice and feeding it into your company’s financial or bookkeeping system. 

E-invoicing solution providers are offering solutions with benefits such as compliance features. These solutions allow users to manage their operations alongside complex country regulations, and the solutions also protect them from risk related to regulatory compliances that affect ‘order to cash’ and ‘procure to pay’ business processes. 

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Keywords: e-invoicing, electronic billing, Europe, CAGR, Customers, suppliers, trading agreement, invoices, purchase orders, debit notes, credit notes, payment terms, remittances, order to cash, Procure to Pay
Categories: Banking & Fintech
Countries: Europe
This article is part of category

Banking & Fintech

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