Facts and figures
The cost of processing a paper invoice is, on average, 17.60 euro for a buyer and 11.10 euro for a supplier. Processing the same invoice electronically costs 6.70 euro for the buyer and 4.70 euro for the supplier respectively.
There are roughly 16 billion B2B invoices processed each year in Europe alone. According to Deutsche Bank, that could lead to an annual saving of 260 billion euro. That is just one of the impressive benefits that eInvoicing can deliver, as the table below demonstrates.
| Improvement Area | Performance Impact |
|---|---|
| Invoice processing cost | Reduced by 30% – 90% |
| Processing cycle time | Reduced by 65% |
| Accounts payable labour | Reduced by 25% – 40% |
| On-time payment percentage | Improved by 15% – 59% |
| On-time earning discounts | Increased up to 500% |
| Supplier participation | 70% – 90% on average |
| Invoices received in electronic format | Improved by 55% – 90% |
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