The “Global E-invoicing and Tax Compliance Report: Watch Out for the Tornado!” offers a comprehensive analysis of current trends and future developments in e-invoicing and digital commerce. Authored by leading consultancy Billentis, the report – now available in French and German – highlights major innovations, country-specific tax and technical requirements, market developments, and timelines for mandatory e-invoicing.
The report’s top three findings
1. The market for electronic invoicing is expected to grow significantly.
Forecasts point to increasing acceptance and market importance, driven in particular by the need for greater compliance and efficiency in business processes. For 2024, it is expected that around 560 billion invoices will have been processed worldwide. Of these, around 125 billion invoices will be sent electronically.
2. Tax authorities worldwide are turning to e-invoicing to fight tax evasion.
Many countries are introducing models that enable real-time or near real-time processing and verification of transactions. Initiatives such as ‘VAT in the Digital Age’ (ViDA) in Europe and other initiatives in Asia show a clear preference for models that promote both tax compliance and operational efficiency. These models are increasingly being combined with B2B mandates for mandatory e-invoicing. In the future, these requirements could be extended to additional business documents and ESG (Environmental, Social, and Governance) criteria.
3. Integrated Digital Commerce is emerging as a holistic strategy for automating business and finance.
Government regulations are increasingly demanding the integration of other business-relevant documents and processes such as payment processing, invoice financing, electronic procurement and tax automation. There are different approaches to implementation. While SMEs (small and medium-sized enterprises) often focus on the integration of financial processes and primarily react to regulatory requirements, large companies proactively initiate comprehensive digitalisation projects with a focus on the automation of supply chain processes.
The importance of staying updated and prepared
The e-invoicing landscape is evolving rapidly – driven by technological advances and regulatory changes. Companies that adapt quickly to these developments and utilise new technologies and innovative models will benefit from greater efficiency, improved tax compliance and increased competitiveness in the global marketplace.
The study serves as an essential tool to understand the complexities of e-invoicing and Integrated Digital Commerce and emphasize the need to keep abreast of these developments and prepare accordingly. In Germany, the report is published in cooperation with the ‘Verband elektronische Rechnung (VeR)’ and in France with ‘Le Forum National de la Facture Électronique et des Marchés Publics Électroniques (FNFE-MPE)’. TecAlliance with TecCom e-Invoicing is one of the report’s sponsors.
READ THE FULL COUTRY-SPECIFIC REPORTS IN FRENCH OR GERMAN
