Summary of the IDC MarketScape: European Compliant e-Invoicing 2024 Vendor Assessment:
- Transformative Market Shift: The European e-invoicing market is undergoing significant changes due to mandatory e-invoicing and e-reporting initiatives by EU countries, driven by the EU’s VAT in the Digital Age (ViDA) initiative aimed at improving tax compliance and closing VAT revenue gaps.
- Complex Regulatory Landscape: Organizations face challenges due to diverse business-to-business (B2B) e-invoicing mandates across different countries, requiring tailored solutions to navigate the fragmentation and meet country-specific compliance requirements.
- Integration of Broader Compliance Needs: e-Invoicing is expanding beyond traditional invoice management, with governments leveraging e-invoicing infrastructure for real-time operations and potential integration with environmental, social, and governance (ESG) reporting.
- Focus on Process Automation: Companies are increasingly recognizing that e-invoicing can drive process automation and efficiency gains, integrating with enterprise resource planning (ERP) systems to streamline financial processes and reduce manual workloads.
- Vendor Selection and Strategy: Organizations are advised to proactively monitor regulatory changes, align e-invoicing with business goals, adopt global strategies for consistent compliance, and thoroughly evaluate vendors to ensure they meet specific needs while supporting ongoing operational efficiency and adaptability.
Source Comarch
Latest Posts in "World"
- ecosio Webinar – Getting Started with Peppol: What You Need to Know (Dec 4)
- Stay ahead of the curve with the latest in fiscalization – Introducing FNN – Fiscal News Network
- E–invoicing Developments Tracker
- Worldwide Upcoming E-Invoicing mandates, implementations and changes – Chronological
- Open ECX Achieves PEPPOL Certification, Enabling Global Standardised Document Exchange for Customers
