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.