- Government mandates for e-invoicing to track VAT payments are driving digitalization of business practices worldwide
- EU has mandated e-invoicing for all B2G procurements, with B2B transactions expected to follow
- Over 100 countries have enacted mandatory e-invoicing legislation
- Cloud-based platforms like SAP Business Network support e-invoicing compliance
- SAP Business Network automates procurement and invoicing activities for buyers and suppliers
- Organizations transact $5.3 trillion annually on SAP Business Network
- Benefits of connected network include time savings, increased efficiencies, and real-time insights
- E-invoicing is expected to have a significant impact on tax management processes in the next 24 months.
Source: news.sap.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
