The global prediction comes from this year’s Billentis Report, sponsored by Ricoh, a project aimed at helping businesses understand the data and future impacts of e-billing.
The OEM is urging European businesses to embrace e-billing and invoicing to hit potential savings of 80 percent, Business Wire reported. The study also revealed found that 50 percent of business leaders believed they couldn’t achieve “digital maturity” without an external partner’s help.
Denmark was one of the earlier pioneers of paperless billing, banning paper invoices from its public sector in 2005. Today e-invoicing saves the Danish taxpayer €150 million ($169 million) a year, and businesses €50 million ($56 million). In Italy, the has government has similarly adopted an e-procurement system, reducing costs by over €3 billion ($3.3 billion) to date. The Recycler reported earlier this month that the UAE government had reached its paperless target, with 96.3 percent of transactions happening through smart functionality and applications.
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Edward Gower-Isaac, Vice President of Business Process Services, Ricoh Europe, said: “Digitisation is undoubtedly a key driver of the growing pan-European appetite for e-invoicing. Businesses realise that ‘going digital’ is no longer a differentiator, but a paramount requirement for any organisation with hopes of a long-term future.
“As with any change-based programme, organisations are rightly seeking external help as they make the move to e-invoicing.”