Thousands of large European businesses are ‘shying’ away from
e-invoicing due to a perceived complexity and lack of standards,
according to a study by information management firm Iron
Mountain.
Research conducted by research agency YouGovStone on behalf of
Iron Mountain found that 40% of businesses across Europe are
reluctant to implement e-invoicing.
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A fifth of respondents from France and a third of those from
Spain felt that the current situation around e-invoicing was
“overly complex and confusing”, and that this was a barrier to
implementation.
Just over a third (36%) of respondents from the UK and Spain
said they would introduce e-invoicing if there was a standard
format, rising to 40% for respondents from Germany.
“Our research reveals that almost one in three respondents
across Europe would introduce e-invoicing if there was a single
standard for formatting,” said Bettina Wonsag, general manager of
the new BPM division at Iron Mountain.
“In the meantime, they are missing out on huge savings and
efficiencies. We are removing these concerns by offering a
controlled transition to optimised accounts payable processes.”
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By GlobalDataThe findings of the study coincide with the launch of Iron
Mountain’s Business Process Management (BPM) services.
It is claimed that the platform can process up to 60m accounts
payable transactions per year and will be supported by a
custom-built processing facility in Bratislava, Slovakia.
“In the current climate, business cases to invest in improving
an organisation’s operating efficiency or its competitive position
must still be developed and considered carefully,” said Peter
Simons, technical specialist at the Chartered Institute of
Management Accountants (CIMA).
“As Iron Mountain’s research confirms, management accountants
have important roles to play in improving the efficiency of the
finance function. They need not fear the relentless advance of
progress.”
