This is the second in a series examining the global landscape for e-invoicing. The first, an overview can be found here.
Of all the economic regions in the world, electronic invoicing is most well established within Europe and North America. This is hardly surprising. As economies, they are amongst the biggest and most technologically mature. They have much in common culturally, politically and in terms of they way they do business but despite the many similarities there are some very distinct differences that makes the implementation of e-invoicing in each region very different.
e-invoicing may be flavor of the month in some quarters but despite having been practiced by some of the largest organizations in the world for over a decade it remains in its infancy. Estimates vary but only about 15% of the world's invoices are transmitted electronically and the level of adoption across the globe varies tremendously. In some countries, despite the approval of the tax and regulatory authorities, take up by business has been slow while in other parts of the world, it is governments' reluctance to accept e-invoicing that is acting as a blocker.
The world map of e-invoicing
The world can be divided into four e-invoicing regions. North America and Europe together with Australia and New Zealand, Latin America, Asia Pacific and Middle East and Africa.
I Robot is a collection of short stories by Isaac Asimov Published in 1950. They predict a day when robots will become sophisticated enough to begin to think for themselves and they explore the world where robots have the capability to take over the world.
And I was reminded of this when I wrote about bent bananas recently.
This is how it will be read. When the European regulators produced guidelines on how bent a banana could be, there was a media frenzy. Headlines like "Europe Bans Bent Bananas" and "It's Official - Bananas Banned by Brussels". It was a Euromyth of course but it sells newspapers and I can feel the same thing is going to happen when the CEN get's its hands on e-invoicing standards.
OB10 can make some great claims. They might like to claim to be the biggest and they'd certainly want to claim best. I think they can legitimately claim to be the first. But these superlatives are very much double edged. "First" also means oldest and "biggest" can mean least agile.
So how can OB10 maintain their leading position? Last week I had the great pleasure of meeting Luke McKeever, their new CEO, who told me.
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