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CFO barometer: e-invoicing
 

CFO barometer: e-invoicing

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Electronic invoicing

Electronic invoicing
Results CFO barometer

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    CFO barometer: e-invoicing CFO barometer: e-invoicing Presentation Transcript

    • Electronic invoicing Results CFO barometer 31 May 2012Ernst & Young | 0
    • 170 participants 35,5% applies e-invoicing Of those that invoice Intercompany 39% electronically which flow of Accounts receivable 77% invoicing is electronic? Accounts payable 56%Ernst & Young | 1
    • Of those that have not yet started with e-invoicing, 44,4% do not have immediate plans Dont know 14% No immediate plans 44% Planned within 2 years 35% Currently implementing 7%Yet, 40% of those that do not have any plansalso believe that paper invoices will disappearin 10 yearsErnst & Young | 2
    • Main reasons for electronic invoicingEfficiency and cost savings predominate79% Invoicing and archiving efficiency Primary Secundary67% Cost savings33% Reducing ecological footprint26% Client or supplier demand20% Improved cash flow20% Improved audit trailErnst & Young | 3
    • Main challenges electronic invoicingMain challenge no longer regulatory compliance56% Client / supplier acceptation and on-boarding53% Integration in existing systems and processes43% Complex regulationErnst & Young | 4
    • Accounts receivablePDF via e-mail predominates e-invoicingFormat Channel72% PDF 64% E-mail58% EDI message 41% EDI11% Other or don’t know 27% Web portal 11% FTP 7% Other or don’t knowControl over integrity & authenticity33% EDI embedded controls31% No control25% Digital signature and / or timestamp7% Algorithm20% Other or don’t knowErnst & Young | 5
    • Accounts receivableOnly 26% archives paper A/R invoices electronically 80% 74% 70% 60% 50% 40% 30% 26% 20% 10% 0% No YesErnst & Young | 6
    • Accounts payablePDF via e-mail predominates e-invoicingFormat Channel85% PDF 84% E-mail33% EDI message 22% EDI15% Other or don’t know 22% Web portal 6% FTP 19% Other or don’t knowErnst & Young | 7
    • Accounts payable56% scans paper A/P invoices, however only 18% archivesscanned invoices electronically 56% 54% 54% 52% Electronic 50% archiving 48% 46% 46% Paper archiving 44% 42% 40% No YesErnst & Young | 8
    • Electronic Invoicing and ArchivingInternal control mechanisms become predominant Internal control 32% Logical access control 24% Logging and audit trail 21% WORM storage 17% Digital signature 15% Time stamp 9% Prescribed algorithm 8% Other 3% Dont know 24%Ernst & Young | 9
    • Compliance0ver 70% believes their solution to be compliant 80% 72% 70% 60% 50% No Compliance 40% review review 30% 28% 55% 45% 20% 10% 0% No YesErnst & Young | 10
    • Some other findings33% does not have documentation28% works with a service provider15% does not archive in original formatErnst & Young | 11
    • Expectations for the future PDF via e-mail will predominate 48% EDI alike will dominate B2B 47% In 10 years paper invoicing is extinct 43% Regulation will reduce 31% Standardization 30% Electronic audits VAT authorities 25%Ernst & Young | 12
    • Ernst & YoungAssurance | Tax | Transactions | Advisory Your key contactsAbout Ernst & YoungErnst & Young is a global leader in assurance, tax, transactionand advisory services. Worldwide, our 152,000 people areunited by our shared values and an unwavering commitment toquality. We make a difference by helping our people, our clientsand our wider communities achieve their potential.For more information, please visit www.ey.com/be.www.ey.com/be© 2012 EYGM Limited.All Rights Reserved.Ernst & Young refers to the global organization of memberfirms of Ernst & Young Global Limited, each of which is aseparate legal entity. Ernst & Young Global Limited, a UKcompany limited by guarantee, does not provide services toclients. Ernst & Young and the stylized Ernst & Young symbolare registered with trademark offices around the world.This document is proprietary to Ernst & Young and theinformation contained herein is confidential.This publication contains information in summary form and istherefore intended for general guidance only. It is not intendedto be a substitute for detailed research or the exercise ofprofessional judgment. Neither EYGM Limited nor any othermember of the global Ernst & Young organization can acceptany responsibility for loss occasioned to any person acting orrefraining from action as a result of any material in thispublication. On any specific matter, reference should be madeto the appropriate advisor.