According to technology company Ricoh UK, the savings in the UK alone could be as much as €4.4bn
This were the conclusion of a new report from Billentis which found that as many as 65% of all companies supply goods or services to the sector. The report says that e-invoicing would save the public sector time and money.
Currently, 18% of all invoices in Europe are sent electronically. This is despite a European Comission target of e-invoicing to be the predominant method of invoicing by 2020.
Globally, only 5% of invoices are sent electronically, according to the report.
Chas Moloney, director of Ricoh UK, said, “With the European economy still in recovery mode, and governments constantly looking for new ways to make savings, adopting electronic invoicing is an obvious choice.
“But we know one of the biggest barriers to widespread adoption is managing the switch from a predominantly paper-based system to an electronic one. For the public sector, doing business with thousands of suppliers and residents, it’s crucial any changes are well planned, communicated, and managed.”
Headquartered in Tokyo, Ricoh Group operates in more than 200 countries and regions.