European Union’s 2020 Vision For Electronic Invoicing

European Union’s 2020 Vision For Electronic Invoicing

Electronic Invoicing Vision

The European Commission wants electronic invoicing to be adopted broadly across the Europe Union and  for e-invoicing to become the predominant invoicing method by 2020. It has published a communication entitled  ‘Reaping the benefits of electronic invoicing (e-invoicing) for Europe’ in which it states it intentions.

The commission aims to support electronic invoice adoption across Europe by helping to eliminate obstacles and ensure that the EU stays in the race by ensuring that it does not fall behind other global regions.

Specifically it will:

  • Create a consistent legal environment across member states
  • Apply specific focus on small and medium sized business adoption
  • Stimulate an environment to create maximum reach
  • Promote electronic invoicing standards

Purchase to Pay, P2P and Dynamic DiscountingThe intention of the commission are backed up by clearly stated actions including the establishment of national and EU wide electronic invoicing fora, proposals to amend the EU directive on electronic signatures and the development of a code of practice.

Further detail is available in the communication here