CFO barometer: e-invoicing

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Ernst & Young | 0 Electronic invoicing Results CFO barometer 31 May 2012

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Electronic invoicing Results CFO barometer

Transcript of CFO barometer: e-invoicing

Page 1: CFO barometer: e-invoicing

Ernst & Young | 0

Electronic invoicing Results CFO barometer

31 May 2012

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170 participants

35,5% applies e-invoicing

56%

77%

39%

Accounts payable

Accounts receivable

Intercompany Of those that invoice electronically which flow of invoicing is electronic?

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Of those that have not yet started with e-invoicing, 44,4% do not have immediate plans

7%

35%

44%

14%

Currently implementing

Planned within 2 years

No immediate plans

Don't know

Yet, 40% of those that do not have any plans also believe that paper invoices will disappear in 10 years

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Main reasons for electronic invoicing Efficiency and cost savings predominate

79% Invoicing and archiving efficiency

67% Cost savings

33% Reducing ecological footprint

26% Client or supplier demand

20% Improved cash flow

20% Improved audit trail

Primary

Secundary

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Main challenges electronic invoicing Main challenge no longer regulatory compliance

56% Client / supplier acceptation and on-boarding

53% Integration in existing systems and processes

43% Complex regulation

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Accounts receivable PDF via e-mail predominates e-invoicing

Format

72% PDF

58% EDI message

11% Other or don’t know

Channel

64% E-mail

41% EDI

27% Web portal

11% FTP

7% Other or don’t know

Control over integrity & authenticity

33% EDI embedded controls

31% No control

25% Digital signature and / or timestamp

7% Algorithm

20% Other or don’t know

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Accounts receivable Only 26% archives paper A/R invoices electronically

74%

26%

0%

10%

20%

30%

40%

50%

60%

70%

80%

No Yes

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Accounts payable PDF via e-mail predominates e-invoicing

Format

85% PDF

33% EDI message

15% Other or don’t know

Channel

84% E-mail

22% EDI

22% Web portal

6% FTP

19% Other or don’t know

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Accounts payable 56% scans paper A/P invoices, however only 18% archives scanned invoices electronically

46%

54%

40%

42%

44%

46%

48%

50%

52%

54%

56%

No Yes

Paper archiving

Electronic archiving

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Electronic Invoicing and Archiving Internal control mechanisms become predominant

24%

3%

8%

9%

15%

17%

21%

24%

32%

Don't know

Other

Prescribed algorithm

Time stamp

Digital signature

WORM storage

Logging and audit trail

Logical access control

Internal control

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Compliance 0ver 70% believes their solution to be compliant

28%

72%

0%

10%

20%

30%

40%

50%

60%

70%

80%

No Yes

No

review

55%

Compliance

review

45%

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Some other findings

33% does not have documentation

28% works with a service provider

15% does not archive in original format

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Expectations for the future

25%

30%

31%

43%

47%

48%

Electronic audits VAT authorities

Standardization

Regulation will reduce

In 10 years paper invoicing is extinct

EDI alike will dominate B2B

PDF via e-mail will predominate

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