Event Description
Can eInvoicing help to reduce late payments?
Report presentation
12 September 2021, 10:00-11:00 (CEST)
The shift from paper-based to electronic invoices is gaining momentum. Driven first by big enterprises in order to automate internal processes, eInvoicing is now being adopted by businesses of all sizes. This is, in part, the result of governments’ initiatives to reduce tax evasion, as shown by the EU’s VAT in the Digital Age (VIDA) and Member States’ eInvoicing mandates.
A recent report by the EU Payment Observatory explores how an increasing uptake of eInvoicing could help in reducing late payments. Identified benefits stem mostly from efficiency gains, although electronic invoicing can also contribute to greater transparency and the offer of more attractive and cost-efficient supply chain solutions. However, eInvoicing seems to have little effect on payment behaviour and it also presents hurdles for SMEs, which are the companies most affected by late payments.
During this webinar the report will be presented, followed by a panel debate on the impact of eInvoicing on late payments. We will discuss how the positive effects can be maximised, and how implementation challenges can be overcome.
