The top 3 e-invoicing myths

The top 3 e-invoicing myths

A few e-invoicing myths got busted last week – in my brain at least. It was during the course of a fascinating conversation with Markus Hornburg and, I’m a little embarrassed to admit, I’ve been perpetuating one of these myths myself for ages. So I thought it would be useful and interesting to share what I think are the top 3 e-invoicing myths.

Purchasing Insight logoMyth 1 – e-invoicing service providers that are compliant in more than 50 countries.

It doesn’t matter whether they say 50 or 500 the reality is there’s no such thing as a compliant service provider. Only the process that you implement in your organization can be compliant. The service provider may offer a platform that supports a compliant process but they are not responsible for compliance – you are.

Myth 2 – Qualified digital signatures are the biggest obstacle to mass adoption of e-invoicing.

Germany, as well as other EU member states, requires that sellers use a qualified digital certificate. This requires production of ID and a physical signature from a “natural person”, usually a senior executive. The certificate needs to be renewed at regular intervals, typically every couple of years. That is simply too much bureaucracy for many suppliers. This isn’t a myth. It’s true – but it’s not necessary and this process need not be an obstacle.

The responsibility for the digital certification can be delegated to the service provider. It doesn’t need to be a headache and in fact, digital signatures are one of the easiest tools to implement to ensure integrity of electronic messages. The perception that they are an obstacle is founded on a misunderstanding of the technology, the legislation and best practice.

Myth number 3 –The world of e-invoicing (in Europe) will become easier in 2013.

There may be less insistence on digital signatures and pdf invoices to come and this should be  welcomed but actually, digital signatures have never been a real issue (see myth 2) and, where paper invoices are received today, in 2013, pdf invoices will almost certainly be printed out and handled manually. No process saving and no improved carbon foot print.

Subscribe To Our Newsletter

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from our team.

You have Successfully Subscribed!