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The Report recognizes the following companies as the key players in E-Invoicing Market in Europe: Basware, Esker SA, SAP AG, Tieto Oyi, Fundtech FSC Ltd., IBM Corp., Itella Corp., GXS Corp., SwissPost Solutions, TradeShift Inc.
One of the major trends in the market is the increasing demand from the public sector. The public sector constitutes approximately 10 percent of the total invoices issued; however, most all of these invoices are paper invoices. Thus, there is tremendous saving potential in many European countries. Moreover, increasing demand from different public sectors such as Healthcare, Logistics, Electricity and the Water board is driving the market. Many enterprises in these sectors have realized the importance of e-invoicing and they are increasingly adopting these solutions. Healthcare is considered an early adopter of this technology and it is known for investing heavily in IT. Additionally, government bodies such as the electricity board are growing at a higher rate and are expected to increase their market share in the near future. Today, in some countries in Europe e-invoicing is mandatory. For instance, in Denmark e-invoicing is mandatory for the public sector agencies, and Denmark will soon introduce rules and regulations with regard to e-invoicing for the public sector.