Fostering Innovative Procurement: eInvoicing Benefits Analysis
On 28 November 2019, the European Commission published the eInvoicing Benefit Analysis.
The European Commission commissioned this analysis to underline the benefits arising from the usage of eInvoicing according to the eInvoicing Directive. The analysis draws extensively from data provided to the Commission by members of the EMSFEI. The EMSFEI oversees both the policy and technical implementation mandates for Business-to-Government (B2G) eInvoicing in the EU Member States.
This Benefits Analysis describes how "cost savings", "reduction of the administrative burden", "facilitation of cross-border trade", "reduced time to pay for individual invoices", and "contribution to eInvoicing processing automation" are the key areas where eInvoicing should brings optimisation and efficiency. This study provides you an evaluation of the affects of the Directive 2014/55/EU on electronic invoicing in public procurement in these areas.
The benefits analysis clearly outlines how some MS take advantage of eInvoicing respecting the European standard, work on-going and where improvements in workflow can be made. You will find information on on-going works and major sources of improvement in the management of eInvoices.
Directive 2014/55/EU calls for the definition of a common European standard on eInvoicing at semantic level (the core information contained in the eInvoice) as well as a list of syntaxes (the format or language used for transmission of the eInvoice). This standard is a key enabler of the digitalisation of public procurement in Europe. The Connecting Europe Facility (CEF) eInvoicing Building Block promotes the successful uptake of the European standard.