Electronic Invoicing Projects: bringing Finance and Procurement closer
Ivalua announces the results of its Trending in Procurement on supplier e-invoicing.
From October to December 2014, Ivalua surveyed a panel of Procurement, Finance, Accounting and IT Systems managers to take stock of the impact of supplier invoices digitization projects within large international groups.
A total of 173 responses were collected and analyzed, with 35% of respondents based in North America (Canada and the U.S.) and 65% in Europe.
Among the main survey findings:
- According to the panel, the Financial Departments are in charge of supplier e-invoicing projects;
- The two main goals in the deployment of an e-invoicing solution are reduced costs and administrative processing and improved invoice traceability within the procure-to-pay process;
- Electronic Data Interchange (EDI) is considered to be the most effective digitization system;
- In terms of integration, the connections between supplier invoices and the accounting ERP system and between supplier invoices and other procure-to-pay suite functionalities (purchase requests, purchase orders, delivery receipt, etc.) are the two most important performance drivers;
- According to a majority of respondents, increased collaboration between the Financial and Procurement Departments is the key factor behind the success of an e-invoicing project.