Manual Invoicing Creates Challenges
Many companies still have manual invoicing processes based on paper. This often means inefficiency and lack of visibility and control. Luckily this is mostly unnecessary in today’s digital world. E-invoicing, business process automation and digitalization of financial administration are growing global trends as companies increasingly realize their enormous potential.
Companies doing business internationally can face substantial burden when setting up business processes in foreign countries, or even when invoicing the public sector. A practical realization of this burden comes in form of laws and regulation that affect companies’ business processes such as invoicing. When companies aim to make their business processes more efficient by digitalizing them, the burden can sometimes be even greater, as the regulation around e-invoicing and e-archiving varies vastly between countries and regulatory guidance and practical interpretations are not always clear.