E invoicing, fin-use electronic invoicing in europe
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The document summarizes key points from a discussion on electronic invoicing in Europe. It notes that SMEs represent over 99% of European businesses but the expert group report took a large business perspective. The document also highlights issues with late payments, public procurement barriers for SMEs, and motivations and barriers for IT usage among SMEs. It concludes by emphasizing the need to think small first, take a bottom up approach, and consider consumers' perspectives.
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E invoicing, fin-use electronic invoicing in europe
- 1. FIN-USE Electronic Invoicing in Europe Madrid, 27-28 April 2010
- 2. FIN-USE Professor Robin Jarvis A member of FIN-USE Head of SME Affairs ACCA
- 3. What is FIN-USE? n An independent expert forum set up by the European Commission in April 2004 n Objective: To improve financial services policy from a user perspective – Consumers and Small Business n Give opinions to the Commission including a response to the Expert Group Report on E-Invoicing
- 4. European SME Landscape – by number of entities Micros 91.9% Small 6.8% Medium 1.1% SMEs 99.8% Large 0.2% Total 100.0%
- 5. SMEs and Consumers n Report, disappointingly, was written from a large business perspective n Representation: only two members of Expert Group come from a SME back ground n Consumers appeared to be ignored in Report
- 6. Trade Credit, Late Payment and the link with Invoicing n Trade Credit, Late payment and E- Invoicing n A significant amount of invoices are not right first time! n UK Government and others issue Guides on best practice which highlights invoicing as a critical issue
- 7. Public Procurement n Tendering process for government contracts n Recognised problem for SMEs to meet contractual requirements n Will E – Invoicing be another barrier to public contract tendering?
- 8. IT : Use, motivation and barriers Usage n Sales Recording n Order processing n General Accounting Motivation n Increase operational efficiency n Keep up with competitors n Increase staff satisfaction / Enhance customer service
- 9. IT : Use, motivation and barriers Barriers n Concern over costs n Uncertainty as to the benefits to the business
- 10. Finally - Three messages:! n Think Small First n Bottom Up Approach n Consideration of Consumers