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Sunday, 21 July 2019

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11 July 2011

Business supports electronic accounts

Software developer Basware  disclosed  results of the independent survey   «Electronic accounts: global review» (E-invoicing: A Global View). 97% companies that took part in the research marked that migration on the electronic accounts can promote efficiency of their activity. However, mass spread of electronic accounts is tampered by  impossibility of  suppliers to conduct electronic transactions, that results in the necessity of the companies to use numerous portals.

Questioning, in which participated 1373 financial sphere workers  from the USA, Europe, Scandinavian countries and Australia, defined the width  of  electronic accounts spread  and driving stimuli for customers. Respondents as well  also  shared  their  concerning  how migration on  the electronic accounts helps companies to improve mutual relations with suppliers, to optimize cash flows,  shorten  delays  of payment orders and increase profitability.

Although efficiency of the use of electronic accounts and purchase orders is widely acknowledged and two thirds of respondents mark their positive influence on business, their application has is not spread much yet. At present most companies (56%) receive in electronic form monthly not more, than 20%  bills, and only 9%  of respondents  use electronic accounts very actively. 93% respondents understand  that the  processing  of accounts requires some improvements in one or another degree.

72% respondents  consider increase of operating efficiency as the primary goal in  2011, and as its solving almost all respondents  named exactly passing to the electronic accounts. Nevertheless, companies planning  to introduce  automation of  financial documents  processing  occur  with immaturity of  processes,  when observance of legislative requirements, making alterations into existent legal acts and providing  possibility of electronic work flow of documents with suppliers requires considerable expenditures of time and resources. All companies, participating in the survey, receive 74%  bills in  a paper form, scanning  them for further processing, that is quite often done manually. Such not automated processes have rather negative impact on  business-indexes.

A serious problem is lack of  interoperability  (collaboration between different operators of  electronic bills exchange), and the use of different formats that  limits possibilities of suppliers. 61% respondents  declared about the necessity of the opened network to allow  any purchaser, supplier or strange producer to operate electronic documents without depending on the presence in  the company of  proper technologies. Thus,  46% financiers consider the cost of introduction as a main problem, impedimental to the rapid mass passing to the electronic accounts. Impossibility of switching suppliers on the fully electronic bill presentment  and integration in the process «from the purchase to payment», results in the decline of control over  expenditures  and has negative  influence  on efficiency of all cycle «from the purchase to payment». Suppliers, without depending on their size, sphere of activity or location, must  have possibility  to work in a single network, and for passing to the electronic transactions the special program is required for  them.


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