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Global Electronic Invoicing – Solutions to Improve Buyer-Supplier Collaboration

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Focus Area: Purchase to Pay
Publication Date: 10/15/2014

Introduction

For many organizations it’s not enough to offer electronic invoice capabilities or EDI. Rather, many finance managers are seeking solutions which solve a wider range of business needs. PayStream’s analysts see a shift in the market driving demand for more sophisticated global purchase to pay and supply chain solutions for order, dispute and invoice management. Procurement and shared services managers are hungry for answers to eliminate the billions of paper documents that are sent and received each year.

PayStream Advisors is developing a Technology Insight and vendor analysis report to provide an in-depth look at global electronic invoicing and eCommerce initiatives. In this 2012 Global eInvoice report, PayStream Advisors in conjunction with Purchasing Insight Group examine global trends that are currently shaping electronic invoice adoption, as well as automation strategies and solutions that are reducing barriers to eInvoice adoption at world-wide based enterprises.  The analysis in the report will be based on nearly 300 survey results from the following regions of the world:

• North America
• Europe
• Latin America
• Middle East
• Africa
• Asia Pacific
 

The report will also feature information about electronic invoice providers who have strong international capabilities to meet the needs of today’s most sophisticated global corporations.

Survey Data

The 2012 global eInvoice survey reveals insights from international finance and supply chain managers regarding 2012 automation goals, barriers, benefits and much more.  Survey results show that electronic invoicing ranked as the number one international automation goal, see Figure A.  Survey results also revealed 2012 eInvoicing goals.  While the number one automation goal was to increase eInvoicing, survey results revealed that the majority of respondents do not have a specific eInvoicing goal.  However, achieving at least 75 percent of eInvoices ranked second, see Figure B. 

Audience

VP-Finance, CFO’s, controllers, AP managers, purchasing managers, shared services managers, and directors at companies who understand basic concepts and opportunities around automation and are interested in solving the paper-intensive document management process in their AP departments. This report is targeted to individuals who require provider and product information to identify appropriate partners.

Report Scope

While electronic invoicing has been in the market for over a decade, only a limited number of organizations have achieved a conversion of a majority of their documents to electronic processes. Increased demand for innovation is driving a shift in the market for solutions. Our research indicates that widespread buyer adoption by multinationals and the emergence of global platforms such as Alusta from Basware, Ariba and OB10 has led to a growing awareness among decision makers regarding the benefits of cross border eInvoicing, including discounting and payment tools, (Figure C).

Software-as-a-Service solutions and buyer-supplier networks are opening the doors for more global companies to take control of supplier invoices and payments and expand their ROI.

For this report, PayStream is partnering with European based Purchasing Insight for the development of the report in order to leverage perspectives and survey data from different regions of the world.  In addition, the report will be prepared in conjunction with the Institute of Financial Operations. 

Promotion

PayStream will be showcasing this research at PayStream’s Electronic Invoice & Payment Executive Exchange and the Annual PayStream Summit in September 2012.

The Executive Exchange is a forum for high-level executives to exchange ideas, solve collaboration challenges, and share best practices around the adoption of business to business electronic invoicing and electronic payments and is driven by the leaders utilizing Electronic Invoicing, including The Home Depot, Johnson & Johnson, Chevron and HP.

Now in its sixth year, the PayStream Summit is the leading event for Purchase-to-Pay managers and executives to learn, share ideas and network with peers and exhibitors in an intimate setting.

Figure A
Top Automation Goals for 2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Figure B
2012 eInvoicing Goals

Figure C
When asked to choose the global eInvoicing vendors they are familiar with, global survey respondents reported the following:

Report Sponsorship

Please contact at (704) 405-5983 for sponsorship opportunities.