Global e-Invoicing market expected to grow

Tuesday 2nd July, 2013

A new report, the Global E-invoicing Market 2012-2016 by TechNavio expect e-invoicing to grow by up to 24%. The report offers in-depth market analysis and input from industry experts covering the Americas, the EMEA region, and the APAC region.

According to the report, one of the major drivers in the market is the need to automate the invoicing process and reduce the operational cost. E-invoicing enables companies within or across organisations to automate invoice generation and enhance the overall business process. It also reduces the total operational cost and the time spent on the purchasing process.

The report also finds that the Global e-invoicing market is expected to grow at a CAGR of 24.2 percent over the period 2012-2016.

Commenting on the report, an analyst from TechNavio's Enterprise Computing team said:

"Earlier, SMEs had limited options when seeking to adopt a system that would ensure optimal business performance. This was because they did not require, or could not afford, all the features of enterprise-class systems. Their options were limited to freeware, low-end or open-source solutions that mainly focused on server or network monitoring. In the last few years, many SMEs have become increasingly aware of the significance of having a solution that preserves their brand reputation and enhances the business process. Some new vendors in the e-invoicing space are aware of this opportunity, and they have recently entered the market with offerings that are positioned to capitalize on this trend. The combination of these new vendors' pricing models and the capabilities and the ease of management that their solutions offer makes these products appealing, especially to SMEs."

The study was conducted using primary and secondary information including input from key participants in the industry.

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