- E-invoicing compliance requirements are increasing globally, challenging tax, finance, and IT groups.
- The UK has concluded its consultation on e-invoicing, with businesses awaiting a decision.
- Centralized e-invoicing involves direct data transmission to tax authorities, favored by countries like Italy and Poland.
- Decentralized e-invoicing uses certified third parties for data transmission, common in Latin America.
- UK companies are evaluating their automation support for both e-invoicing models.
- A survey by Vertex and Sapio Research highlights optimism about e-invoicing benefits.
- 79 percent of respondents believe benefits will outweigh challenges.
- Over 50 percent cite efficiency and cost savings as primary benefits.
- More than 80 percent expect improvements in data accuracy and financial reporting.
- Over half report difficulties integrating e-invoicing solutions, but 80 percent anticipate improvements in the next 24 months.
Source: vertexinc.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
