According to the report, the main reason why e-invoicing has failed to gain traction in the banking industry lies in the fact that banks are being driven by business cases that require returns on investments in short timeframes. While e-invoicing can enable many opportunities, it is unlikely to satisfy those business requirements in the short term. Additionally, the report has explained that part of the problem is that e-invoicing is widely misunderstood and often finds itself compared to areas such as supply chain finance, the financial supply chain or e-billing.

However, the study has forecast that banks will ultimately benefit from the savings made through the adoption of e-invoicing probably more than any other sector. The report has explained that e-invoicing builds the platform for the digital client relationships of the future. By starting with the invoice, banks are enabling greater efficiencies in a vital part of the value chain which in turn will lead to new insights, from opportunities for trade finance to greater insight into their customers. E-invoicing also enables other initiatives, including greater adoption of electronic payments and a natural progression to electronic bank account management (eBAM) for all clients.

The report titled “The Opportunity for E-Invoicing” was issued by research and consulting firm Celent.