Global E-Invoicing

Report 2024
The global rise of e-invoicing
Introduction Key insights
Market growth Regulatory landscape
This report provides a concise overview E-invoicing adoption is Regulations vary by region, with
accelerating globally, driven by countries like Italy, Brazil, and India
of the current e-invoicing landscape, regulatory mandates and the leading in mandatory e-invoicing.
need for efficiency. Europe and Understanding these regulations
highlighting key trends, regulatory Latin America are at the forefront, is crucial for compliance and

updates, and strategic opportunities for with rapid adoption in Asia and
growing interest in North America.
operational efficiency.

businesses in 2024. E-invoicing is a critical

Benefits Challenges
component of digital transformation, E-invoicing provides significant Integration with existing systems,
offering substantial benefits in efficiency, cost savings, faster payment
cycles, reduced errors,
regulatory compliance, and data
security are key challenges.
compliance, and competitiveness. and improved cash flow Best practices and strategic
management, offering a strong recommendations are outlined
return on investment. to address these issues.
The primary aim of the report is to
Strategic recommendations Future outlook
support companies and organizations Billtrust’s collaboration with Sustained expansion hinges
contemplating or preparing to launch Deloitte offers invaluable insights
into e-invoicing strategies.
on regulatory progress and
technological advancements.
their international e-invoicing initiatives. Keeping abreast and adaptable
is key to maximizing the
advantages of e-invoicing.

Billtrust Global E-Invoicing Report 2024 2

 Why Billtrust?

Billtrust has been at the forefront of the

global e-invoicing market for over 20
years. We deliver outbound invoices
to over 150 nations worldwide and
have witnessed this radical shift in how
the landscape operates firsthand.
This report is intended for informational purposes only. The validation of the current status for each country is
required/recommended to ensure readers are aware of the latest updates that may have occurred. Information
provided herein does not, and is not intended to, constitute legal or other professional advice.

Billtrust Global E-Invoicing Report 2024 3

What 1 Why should you care about
electronic invoicing?

you’ll learn 2 Electronic invoicing in the light of

unified accounts receivable

3 A look back at last years’ global highlights

4 Where are we today: Global highlights

5 The e-invoicing tightrope walk:

Navigating efficiency, data, and standards

6 Strategic recommendations

7 The future is connected

8 Appendix: Country updates

Billtrust Global E-Invoicing Report 2024 4

 Electronic invoice
Also known as a structured invoice, the primary feature of
an e-invoice is its specific format which enables automatic
straight-through processing and compliance with regulations,
distinguishing it from paper or PDF invoices.

Recap of Mandate
Refers to a government regulation requiring businesses to use

terms
electronic invoicing. These mandates can vary from country to
country. Some may require simply using a specific data format
for invoices, while others may involve sending invoices through a
government-approved platform.

VAT gap
In the EU, the VAT gap signifies the variance between the expected
VAT revenue and the actual collection. To bridge this divide, EU
governments are implementing e-invoicing and tax mandates or
tax reporting systems.

Billtrust Global E-Invoicing Report 2024 5

Why should you care Discover the significance of e-invoicing and why it matters to you:

✓ Cost savings: E-invoicing cuts out the costs associated with traditional paper

about electronic invoices. No more printing, postage, or filing – it’s all digital! This translates to
real savings and frees up resources for other tasks.

invoicing? ✓ Faster payments: E-invoices can be processed much quicker than paper ones
or PDFs. Gone are the days of waiting for invoices to arrive in the mail and
then get manually entered into the system. Faster processing means faster
Gone are the days of paper cuts and misplaced invoices! payments, thus improving your cash flow.

E-invoicing brings a breath of fresh air to the world of business ✓ Reduced errors: Manual data entry from invoices is a recipe for errors.
transactions. Imagine this: invoices that zip through the system E-invoicing eliminates this risk by using structured data formats that can be
electronically, processed in a flash by computers, with fewer automatically processed by software. This reduces errors and saves you time
errors and a happier planet. That’s the magic of e-invoicing. spent correcting them.

✓ Improved efficiency: E-invoicing automates a significant portion of the

invoicing process, freeing up your team to focus on more strategic tasks. You’ll
spend less time chasing down invoices and reconciling data, and more time

560B 125B analyzing financial data and providing valuable insights to the business.

✓ Environmental benefits: By ditching paper, e-invoicing is a more

invoice volume invoices sent
environmentally friendly option. This can be a positive factor for your company’s
in 2024 electronically in 2024
sustainability initiatives.

$8.9B 27.9%
✓ Compliance: In more and more countries, e-invoicing is becoming mandatory.
By adopting e-invoicing now, you’ll be ahead of the curve and avoid scrambling
to comply with future regulations.
market worth in 2024, market value
rising to $23.7B by 2028 CAGR to 2028

Source: Billentis report1

Tip: Learn more about all the benefits e-invoicing brings to your business

Billtrust Global E-Invoicing Report 2024 6

Electronic invoicing in the light In today’s fast-paced business environment, adopting electronic invoicing
combined with unified accounts receivable (AR) systems can significantly

of unified accounts receivable transform operational efficiency. E-invoicing offers an automated

approach to billing, eliminating manual processes and reducing errors.
When integrated with a unified AR system, the benefits multiply.
Transforming business efficiency
✓ A streamlined process for tracking receivables

✓ A holistic view of your financial health

✓ Better strategic decisions

✓ Enhanced cash flow management

✓ Compliance with regulatory requirements

AR
Solution ✓ More robust customer relationships

The actionable insights combined with a unified accounts receivable

Services & platform (such as Billtrust’s) can significantly empower your business
Integrations
Support to automate routine tasks, thus freeing up valuable resources for
higher-level strategic initiatives. This automation not only improves
Unified UX
accuracy but also accelerates the entire invoicing cycle, from issuance to
payment, fostering a more efficient and transparent financial landscape.

AI & Analytics Harnessing the power of e-invoicing within a unified AR framework

is not just about keeping pace with technological advancements; it’s
about driving tangible improvements in business performance. As more
companies transition to these systems, the competitive advantage
AR Data Cloud becomes evident: faster, more accurate invoicing processes that support
sustained business growth.

Billtrust Global E-Invoicing Report 2024 7

 “In today’s rapidly evolving
business landscape, success
requires embracing innovation.
Electronic invoicing isn’t just about adjusting processes; it’s about
enhancing efficiency, driving growth, and ensuring long-term sustainability.
By digitizing invoicing processes, businesses can streamline operations,
reduce expenses, and create opportunities for strategic advancement.”

Fabio Santoro
Senior Commercial Product Manager Invoicing
Billtrust

Billtrust Global E-Invoicing Report 2024 8

Where we are
today: global
highlights
The first half of 2024 is behind us, and the
momentum behind e-invoicing continues
to grow. Across Europe and numerous
countries globally, significant advancements
in e-invoicing mandates are unfolding.
Meanwhile, discussions between the European
Commission and its member states regarding
the VAT in the Digital Age (ViDA) proposal are
proving challenging, marked by substantial
differences among the member states.

Billtrust Global E-Invoicing Report 2024 9

B2B e-invoicing heatmap

Europe
Germany
A major shift is underway in Germany’s invoicing system driven by recent
legislative changes. The most significant development is the mandatory adoption
of e-invoicing for domestic B2B transactions starting from January 1, 2025, as
mandated by the Growth Opportunities Act. While full implementation is slated
for January 2028, transitional measures are in place to smoothen the adaptation
process for businesses.

France
In recent developments, France has postponed its previously announced
mandatory e-invoicing and e-reporting rollout. While the exact date is yet to be Mandatory now
🇦🇱 Albania 🇸🇲 San Marino
determined, it is expected to be implemented in phases starting around September
🇮🇹 Italy 🇷🇸 Serbia
2026. This delay is intended to provide businesses with ample time to prepare for
the upcoming changes. 🇷🇴 Romania (July 2024) 🇹🇷 Türkiye

Other European countries It’s happening

🇧🇪 Belgium (Jan 2026) 🇩🇪 Germany* (Jan 2025–2028)
Several European countries are implementing or revising e-invoicing regulations. 🇫🇷 France* (Sep 2026–Sep 2027) 🇵🇱 Poland* (Feb–Apr 2026)
Starting in July 2024, Romania has implemented a clearance method requiring
tax authority validation before transmitting domestic B2B e-invoices. Poland has Planning & first steps
🇪🇪 Estonia† (Jan 2025) 🇸🇮 Slovenia (2025?)
postponed the mandatory rollout of its KSeF system that was initially planned
for July 2024 and is anticipated to start in February 2026 at the earliest. Belgium 🇱🇻 Latvia (Jan 2026) 🇪🇸 Spain* (2025–2026)
is also gearing up for mandatory B2B e-invoicing in 2026. The rollout of B2B
e-invoicing mandates in Spain, initially projected for mid-2025, faces delays likely
pushing implementation to early 2026. In other news, Slovakia has indefinitely
No plans
🇸🇰 Slovakia 🇬🇷 Greece

postponed the implementation of real-time reporting for e-invoices.

* Phased approach
† No mandatory B2B e-invoicing requirement, buyers can opt to request e-invoicing.

Billtrust Global E-Invoicing Report 2024 10

B2B e-invoicing heatmap

Middle East & Africa

Mauritius
Mauritius has started rolling out its phased
e-invoicing system in May 2024.

Zambia
Zambia will require all VAT-registered taxpayers
to adopt mandatory electronic invoicing using
the new Smart Invoice system from July 1, 2024.
Mandatory now
🇪🇬 Egypt
United Arab Emirates 🇬🇭 Ghana
🇰🇪 Kenya
🇸🇦
The UAE will require mandatory e-invoicing
for B2B and B2G transactions starting July Saudi Arabia*

🇹🇳
2026, using a system modeled after France’s (Wave 10–11: Oct–Nov 2024)

Tunisia
🇺🇬
decentralized approach, more specifically a
Peppol Five-corner model. Uganda

Saudia Arabia It’s happening

🇦🇪 UAE* (July 2026)
In 2024, the tenth and eleventh wave of
🇲🇺 Mauritius* (May 2024)
taxpayers need to comply with e-invoicing
🇿🇲 Zambia (July 2024)
obligations in Saudi Arabia.
🇮🇱 Israel* (May 2024–Jan 2027)

Israel
Planning & first steps
🇳🇦 Namibia (2024–2025)
Israel has delayed the phased launch of its B2B
e-invoicing system to May 5, 2024.
* Phased approach
🇯🇴 Jordan

Billtrust Global E-Invoicing Report 2024 11

B2B e-invoicing heatmap

North & South America

North America
In the US, the Digital Business Networks
Alliance (DBNAlliance) has launched a new
open exchange network for secure B2B
e-invoices and e-documents.

South America
While mandatory e-invoicing is already in place
in many South American countries, there are
ongoing refinements being made. For instance,

🇧🇴
in Paraguay a new category of taxpayers was
Mandatory now Bolivia
🇧🇷
introduced. Legal entities newly registered
in the Single Taxpayer Registry (RUC) must Brazil
exclusively use electronic invoices for invoicing 🇨🇱 Chile
purposes from January 2025.
🇨🇴 Colombia
🇪🇨 Ecuador
🇬🇹 Guatemala
🇲🇽 Mexico
🇵🇾 Paraguay
🇺🇾 Uruguay

Planning & first steps

🇺🇸 USA

Billtrust Global E-Invoicing Report 2024 12

 B2B e-invoicing heatmap

Asia-Pacific
Mandatory now
🇨🇳 China
Asia

🇮🇳 India
In Asia, Malaysia is starting with mandatory

🇮🇩 Indonesia
e-invoicing in phases from August 2024.

🇹🇼 Taiwan
Malaysia has localized Peppol MY PINT BIS

🇻🇳 Vietnam
specifications to meet local business and tax
requirements. Singapore aims to shift to local
Peppol PINT in a gradual roll-out scheme.
It’s happening
🇲🇾 Malaysia (Aug 2024)
🇸🇬 Singapore*
(May 2025–April 2026)
Australia & New Zealand
In Australia and New-Zealand, B2B e-invoicing
* Phased approach remains voluntarily, the buyer cannot force
the supplier to adopt e-invoicing. Starting
in November 2024, A-NZ Peppol Service
Providers will be required to comply with the
PINT A-NZ specifications, while the current
specifications will be retired from May 15, 2025.

Tip: Stay ahead with rapid updates.

Explore the latest in e-invoicing on the
Billtrust website to stay informed.

Billtrust Global E-Invoicing Report 2024 13

ViDA: No agreement yet on VAT
During the May Economic and Financial Affairs Council (ECOFIN) meeting, the Key Points on DRR:2
VAT in the Digital Age (ViDA) legislative package, which includes regulations on
Digital Reporting Requirements (DRR), once again faced a deadlock among the
– Hybrid invoice: A new concept of “hybrid invoices” is
27 EU member states. The sticking point remains the Platform Economy aspects, introduced. These combine structured data (like digital
while the Digital Reporting Requirements section received unanimous approval. formats) with unstructured data (like PDFs). As long as they
include all required information in a structured format, they
might be considered e-invoices.

– Mandatory e-invoicing: This will be enforced for intra-EU

business-to-business transactions (goods and services)
starting July 1, 2030. However, it’s contingent on a common EU
definition for “e-invoice.”

– Member state authority: Individual EU countries can still

regulate reporting beyond e-invoicing/e-reporting mandates.
This includes maintaining existing SAF-T (Standard Audit File
for Tax) requirements.

– Domestic DRR: Lower standardization is expected for

domestic (within-country) reporting obligations, allowing
for some deviations from the EU model. This is expected
by January 1, 2030.

– Alignment and deadline extension: Existing e-invoicing and

real-time reporting mandates need to comply with the EU
standard by January 1, 2035. Additionally, the deadline to issue
e-invoices for intra-EU transactions has been extended to 10
days after the chargeable event.

Billtrust Global E-Invoicing Report 2024 14

Regulatory complexity
and unclarity

The journey towards mandatory e-invoicing across Europe Upcoming mandates and timelines exist, but a thick fog The European Union itself has expressed its intention
seems less like a smooth stroll and more like a ride on a of unclarity hangs over the specifics. This lack of clarity to harmonize e-invoicing practices across member
rickety rollercoaster. While the destination – a streamlined creates a precarious situation for businesses operating states, offering a glimmer of hope for a smoother future.
and efficient invoicing system – is clear, recent delays in across borders, forcing them to prepare for multiple, Until a more unified approach takes shape, companies
countries like France and Poland highlight the bumps and potentially incompatible, e-invoicing systems with face continued uncertainty and the need to navigate a
unexpected turns along the way. limited information. landscape of individual country mandates with varying
timelines and requirements.

Billtrust Global E-Invoicing Report 2024 15

The road to Continuous Despite the above uncertainty, numerous countries have announced that
they are moving towards Continuous Transaction Controls (CTC) models.

Transaction Controls models (CTC) These models involve governmental tax authorities actively accessing invoice
data in (near) real-time, without disrupting the billing process between
suppliers and buyers.

The primary aim of CTC models is to verify tax compliance and ensure
compliance among all parties. This model can engage service providers from
both sides of the transaction, resulting in five distinct parties being part of
The Peppol Five-Corner Model a single transaction.

The most complex model, Decentralized CTC and Exchange (DCTCE), is

gaining traction globally. Known as the Five-Corner model or Peppol CTC, it
is expected to be implemented in multiple countries by 2030. One of the first
CORNER 1 CORNER 4 countries that will soon adopt this model is the UAE.
Supplier Buyer
The 2 big drivers of CTC models:

– Improved tax compliance

CTC models allow tax authorities to actively access invoice data in
near real-time, enabling them to verify tax compliance and ensure all
parties are paying the correct taxes. This reduces the opportunities for
Peppol network tax evasion and fraud.
CORNER 2 CORNER 3
Supplier’s Buyer’s – Economic gains and business efficiencies
Access Point or Access Point or
By having all parties involved in a transaction (potentially including service
Service Provider Service Provider
providers) participate in the CTC model, the process can become more
efficient and transparent. This reduces disruptions in the billing process
CORNER 5
and improves overall visibility for all participants. Also, nations embracing
Tax Authority
this model could achieve economic gains 5 to 11 times greater than the
incremental VAT/ST revenue.3

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Aligning payments Imagine a world free from paper invoices and
agonizing waits for payments. E-invoicing delivers
and e-invoicing that reality, with invoices zipping electronically in
a structured format, ready for instant processing.
Now, combine that with a suite of new payment
options that settle invoices instantly or near-
The cost of pay me later4
Global DSO stands at 59 days in 2023.
instantly. This is the exciting reality that e-invoicing
and modern payment solutions are ushering in.

Western Europe 56 days This powerful convergence isn’t just about streamlining processes; it’s about
eliminating the pain point of late payments for both buyers and sellers. Manual
USA 49 days processes and outdated policies can lead to delays on the buyer’s side, while
unclear invoices can cause holdups for the payment removal process. E-invoicing
Canada 41 days and innovative payments address both sides of the equation:

✓ For buyers: Faster processing removes the risk of delays

APAC 63 days caused by manual work.

✓ For suppliers: Clear, structured invoices ensure faster payment approvals.

1 in 5 corporates globally pay their suppliers after

By tackling these issues head-on, e-invoicing and modern payment solutions pave
90 days. 42% of companies posted payment terms the way for a future where timely payments become the norm, and businesses can
above 60 days of turnover at the end of 2023. focus on growth and success.

Billtrust Global E-Invoicing Report 2024 17

The e-invoicing For many businesses, the rise of e-invoicing
has introduced a layer of confusion regarding
its relationship with indirect tax reporting. This
can lead businesses to question whether
e-invoicing automatically ensures proper
indirect tax reporting. The answer is no.

and e-reporting confusion stems from the interconnected,

yet distinct, nature of these two processes.
Furthermore, the specific data required for

conundrum
e-invoicing might not always align perfectly
Let’s break down the key differences for you:
with the information needed for accurate tax

– E-invoicing: Imagine invoices that zip reporting. This mismatch can necessitate

between you and your business partners additional data capture or adjustments,

electronically, with all the details neatly adding another layer of complexity.

formatted for seamless processing. That’s Combating this confusion requires a multi-
the magic of e-invoicing. The structured pronged approach. Governments can
format of e-invoices eliminates manual play a crucial role by clearly outlining the
data entry, reduces errors, and speeds up specific requirements for both e-invoicing
payments – a win-win for everyone involved. and indirect tax reporting. Educational
initiatives can help businesses understand
– E-reporting: Now, think of a system that
the distinct roles of each process and
electronically transmits your tax-related
ensure they have the necessary systems and
data directly to the authorities. E-reporting
processes in place to comply with both.
takes care of that, ensuring accurate and
timely information reaches the taxman Ultimately, a successful transition to
without the hassle of manual submissions. e-invoicing and its link with indirect tax
This not only simplifies compliance but can reporting hinges on clear communication and
also potentially lead to faster tax refunds. collaboration. By working together, businesses,
governments, and tax authorities can navigate
One key source of confusion lies in the
this potential confusion and unlock the full
varying levels of e-invoicing mandates across
potential of both systems for streamlined
different countries. Some governments
tax compliance and improved efficiency.
mandate e-invoicing solely for tax purposes,
while others encourage its use for broader
business efficiency. This inconsistency

Billtrust Global E-Invoicing Report 2024 18

The Achilles heel of Building a strong foundation
for e-invoicing success
e-invoicing: flawed O2C To achieve true compliance with e-invoicing mandates, businesses

processes and master data must prioritize both O2C process improvement and master data
management. Here’s how:

The road to e-invoicing compliance can be paved with

good intentions, but a crucial factor is often overlooked:
the health of underlying order-to-cash (O2C) processes
and master data management. Neglecting these areas
can create a critical vulnerability, jeopardizing compliance O2C process optimization Master data cleansing

efforts despite the adoption of e-invoicing technology. Conduct a thorough review of Cleanse and standardize
existing O2C processes to identify customer and product data
and rectify inconsistencies. This across all systems. This might
O2C processes: the plumbing of compliance
could involve implementing involve eliminating duplicates,
E-invoicing automates invoice generation based on data collected automation tools for tasks like correcting inconsistencies,
throughout the O2C cycle. If these processes are riddled with invoice processing and data and enriching data
inconsistencies or errors, the resulting e-invoices will be inaccurate and capture to minimize human error. with missing details.
non-compliant. For instance, incorrect customer addresses on orders
will lead to faulty invoice data, creating delays and potential penalties.
By addressing these foundational weaknesses, businesses can ensure
Master data: the foundation of accuracy that e-invoicing becomes a force for compliance, not a source of
frustration. Remember, e-invoicing is a powerful tool, but it’s only as
Master data, encompassing customer and product information, serves effective as the data it utilizes. Clean O2C processes and robust master
as the bedrock of e-invoicing accuracy. Inaccurate or incomplete data management are the essential building blocks for a successful
master data – such as misspelled customer names or outdated product e-invoicing journey.
codes – will inevitably lead to errors in e-invoices and could trigger
rejections from tax authorities, disrupting business continuity.

Billtrust Global E-Invoicing Report 2024 19

The e-invoicing tightrope A delicate exercise: Balancing
transparency with burden

walk: Navigating efficiency, The rise of e-invoicing promises a transformative shift

in tax compliance. However, navigating this change

data, and standards

requires a delicate balancing act. Governments
and tax authorities, while eager to leverage the
rich data e-invoicing offers, must be mindful of not
overburdening businesses with excessive red tape.
The journey towards electronic invoicing is akin to a captivating The allure for governments is undeniable. E-invoicing
tightrope act. Despite offering efficiency and a more streamlined provides a clear view of economic activity,
potentially reducing tax evasion and facilitating
future, successfully traversing this path demands meticulous more efficient tax collection. This access to data
attention to data management and the intricacies of standardization. can be a powerful tool for policymakers.

However, the line between transparency and burden can be

easily crossed. Overly complex e-invoicing mandates can
become a bureaucratic nightmare for businesses, stifling
innovation and hindering economic growth. Businesses
may face significant costs in adapting their systems and
processes, and struggling with a constant stream of data
requests can divert resources away from core activities.

Striking the right balance requires a collaborative approach.

Governments can work with industry representatives to
develop e-invoicing standards that are both effective
and efficient. Standardization minimizes the compliance
burden on businesses by reducing the need for customized
systems for each jurisdiction or country. Additionally, clear
communication from authorities about data requirements
and their purpose can help businesses understand the
rationale behind e-invoicing and foster a spirit of cooperation.

Billtrust Global E-Invoicing Report 2024 20

The talent gap: a hurdle to Modern or laggard:
e-invoicing’s adoption exploring the disparity
The road to e-invoicing adoption isn’t without its bumps. One The march towards electronic invoicing creates a clear
key hurdle is the talent gap in tax technology. E-invoicing divide: modern organizations who leverage it for improved
necessitates a specific skillset that’s already in high demand. business processes and efficiency, and laggards who
As more countries and businesses implement this system, stumble due to data management shortcomings. While
the shortage of qualified professionals will likely become even having the necessary systems might seem sufficient, the
more pronounced. This lack of expertise can slow down the real differentiator lies in data quality and organization.
rollout and implementation of e-invoicing infrastructure.
– Modern: Those who embrace it as an opportunity
Governments, for instance, need specialists to design
to streamline their Order-to-Cash (O2C) processes.
and manage the e-invoicing ecosystem, ensuring
E-invoicing allows for automation, eliminating manual
secure data exchange and compliance. Businesses, too,
data entry and reducing errors. This not only saves
require skilled personnel to adapt their internal systems
time and resources, but also improves accuracy and
and processes to handle e-invoices efficiently.
streamlines cash flow.
Addressing this talent gap requires a multi-pronged
– Laggard: Those who fail to address challenges such
approach. Businesses can explore upskilling their
as data quality within their O2C processes – despite
existing workforce or partnering with specialized tax and
technology consultancies. Collaboration is also crucial.
having all the required systems in place. Poor data

Governments and industry bodies can work together management acts as a barrier, hindering the smooth
to establish standardized e-invoicing formats and transition to e-invoicing. Incomplete or inaccurate
protocols. This will ease implementation for businesses information can lead to rejected invoices, delays in
and reduce the need for heavily customized solutions, payments, and ultimately, frustration for both the
potentially lowering the demand for niche skillsets. sender and receiver.

The key to winning in this scenario lies in data governance.

Organizations must prioritize data quality within their
O2C processes. This means establishing clear data
standards, implementing data validation tools, and
fostering a culture of data accuracy. Clean and organized
data is the fuel that powers efficient e-invoicing.

Billtrust Global E-Invoicing Report 2024 21

The standardization scramble The integration impasse: How
The quest for a unified e-invoicing landscape is riddled e-invoicing networks bridge the gap
with standardization challenges. Many stakeholders, The patchwork of existing Enterprise Resource Planning
unaware of existing global standards or hesitant to (ERP) and accounting systems poses a significant hurdle
adopt external protocols, have championed specialized to e-invoicing adoption. Integrating these diverse solutions
solutions. This has resulted in a multitude of standards, with standardized e-invoicing formats can be a complex
often tailored to specific industries or regions. and costly endeavor. This challenge has fueled the rise

The long-term viability of these specialized standards hinges of third-party e-invoicing networks and providers. These

on their ability to find common ground with established global companies offer “any-to-any” data services, acting as

frameworks like Oasis UBL or UN/CEFACT. Alignment with these intermediaries that bridge the gap between disparate

widely recognized standards fosters interoperability, allowing systems and ensure seamless e-invoice exchange.

for seamless communication across borders and industries.

Several factors contribute to the resistance towards global

standards. Limited awareness among some businesses can
lead to a preference for familiar, industry-specific solutions.
Additionally, some organizations may be apprehensive
about surrendering control to external protocols, fearing
a loss of flexibility or potential security vulnerabilities.

There’s no silver bullet to fixing standardization. Instead, a

three-pronged attack is needed. First, educational campaigns
can shine a light on existing global standards and the
advantages they offer. Second, showcasing the security and
efficiency of these frameworks can calm anxieties. Finally,
encouraging collaboration between standardization bodies
and industry players can pave the way for hybrid solutions.
These solutions would capitalize on the strengths of global
standards while incorporating industry-specific details,
fostering a more inclusive and adaptable environment.

Billtrust Global E-Invoicing Report 2024 22

 “It’s crucial to understand that the
introduction of mandatory B2B
e-invoicing, along with its standardized
formats, affects industries unevenly.
The impact largely depends on the complexity of the invoices and attachments
that suppliers currently generate and send. While there are minimum VAT
requirements, there are no limits on the amount of content included in an
invoice. This poses a significant challenge for suppliers, compelling them to
reconsider what additional information they provide, how they present it, and
when they share it with their buyers, beyond the mandated minimum fields.”

Loek Smits
Product Director Invoicing
Billtrust

Billtrust Global E-Invoicing Report 2024 23

Farnell Global streamlines
invoicing with Billtrust
Industry

Electronic and Industrial Parts Distribution

“We have worked well with Billtrust building out our
Challenge
European solution, whilst planning and exploring our
Farnell Global, a leading distributor of products and technology for electronic and
industrial system design, maintenance, and repair, with operations across Europe,
global rollout. The implementation has not all been
North America, and Asia Pacific, needed a robust and efficient e-invoicing solution ‘plain sailing’, with both parties taking time to adapt to
to streamline their billing processes and comply with regional regulations.
the ways of working, with some technical challenges
Solution along the way but through mutual goodwill,
Farnell Global implemented Billtrust Invoicing and Collections in Europe and Asia understanding and hard work we have got to a great
Pacific. Billtrust offered a comprehensive solution that included:
result. The Billtrust team listen and are responsive to
– Automated invoicing: Reducing manual workload and errors associated with
paper-based invoicing.
our needs and I hope that we will continue to develop
– Invoicing print capabilities: For those customers that are still ‘on paper’. a strong working relationship in the years to come.”
– B2G invoicing connections: Ensuring seamless communication with governments
and tax agencies in 12 European countries.
Phil Thomas
– AP portal integrations: Facilitated easy invoice submission through popular
Sr. Manager Finance Systems
portals like Basware.
Farnell Global
– Client-specific delivery options: Provided flexibility to meet the unique
requirements of individual clients (e.g., Indra).

Billtrust Global E-Invoicing Report 2024 24

The importance of
strategic planning About the Billtrust-
A conversation with Deloitte Deloitte partnership
Billtrust’s collaboration with Deloitte
offers invaluable insights into e-invoicing
strategies. Drawing on Deloitte’s wealth
of experience working with diverse global
and local companies, organizations
gain access to tailored approaches and
industry best practices for successful
e-invoicing implementation.

Deloitte’s extensive background in

assisting a variety of global and local
companies positions them as adept
supporters of local businesses. With
insights and best practices acquired
from their work with global corporations,
they can guide local entities through the
challenges of e-invoicing, customizing the
approach to their unique requirements.

By sharing proven perspectives and

best practices, we both empower
local businesses to surmount
obstacles and establish efficient
e-invoicing solutions with precision.

Billtrust Global E-Invoicing Report 2024 25

Strategic planning is essential Hanne Van De Weyer, Senior Manager of Tax
Technology Consulting at Deloitte, discusses the
for organizations to navigate the importance of preparation to ensure readiness.
“Poor planning in this area can lead to regulatory
evolving landscape of e-invoicing compliance issues, cash flow problems, operational

and e-reporting. These obligations disruptions, and reputational damage. Having a

proactive and forward-thinking approach ensures
differ across regions and timelines, that your organization is not only compliant
but also agile and lean, reaping the benefits of
making it vital to anticipate future e-invoicing to further automate processes and

developments. Effective planning utilize it as a catalyst for transformation of finance

and tax processes. In a rapidly digitalizing world,

impacts business processes, strategic planning is the foundation of sustained

competitiveness and resilience.”
stakeholders, tax compliance,
and regulatory adherence.

Billtrust Global E-Invoicing Report 2024 26

A structured Developing a strategic plan in the face of
continuous digitization, whether domestic or
Deloitte observes varying levels of
e-invoicing readiness among companies.

approach is global, demands a structured methodology,

emphasizes Hanne Van De Weyer from
While e-invoicing is not a new concept for
global firms, it has been in use for years,

crucial
Deloitte. This often begins with mapping particularly in regions like LATAM and with
out your impacted processes and systems Italy leading the way in Europe. Initially,
in light of e-invoicing as well as reviewing companies introduced e-invoicing mandates
the correctness and validity of the source country by country, but there is now a shift
data. Leveraging the experiences and in approach. The rapid introduction of new
lessons from more mature markets that have e-invoicing mandates highlights the need
undergone e-invoicing transformations can for a more global or regional strategy to
here provide valuable insights. expedite implementation. This broader
“Developing a strategic plan for your approach enables IT to create a centralized
Having the right technologies in place framework that benefits local markets by
organization in light of continuous is key, but understanding the impact on streamlining the implementation of global
your business and ERP, tax and financial processes and customizing them to meet
digitization—whether it involves processes, establishing new workflows to specific requirements. In contrast, for local
adapt to the new landscape, and maintaining companies with a smaller or exclusively

a domestic or global footprint— strong governance are often overlooked

yet absolutely essential. The mapping of
local footprint, e-invoicing can be quite
new, especially considering its revised

requires a structured methodology.” these impacted processes, reviewing source

data and having procedures in place will
definitions and requirements.

also allow you to identify where automation While establishing an effective process
opportunities exist, further enhancing can be challenging, once it is in place, it
Hanne Van De Weyer
efficiency and accuracy. This approach becomes a valuable asset. This allows you
Senior Manager Tax Technology Consulting
ensures that your people understand the to create best practice methodologies that
Deloitte
changes in their roles and processes due to can be replicated in other regions where
e-invoicing, fostering a smooth transition, e-invoicing is introduced, thus accelerating
effective adaptation, and ultimately driving local market implementations.
operational excellence.

Billtrust Global E-Invoicing Report 2024 27

Data security and privacy Getting ahead of the curve
are paramount Equipping your organization with the expertise to

Data security and privacy are critical in e-invoicing remain at the forefront in the ever-changing world of

due to the sensitive financial information involved. e-invoicing is crucial. It’s imperative to do so proactively

This issue is further complicated by the presence of and ahead of time. The key takeaway is to start as soon

numerous stakeholders and systems operating in as possible, even if your country has not yet mandated

varied geographic and regulatory environments. e-invoicing, says Hanne Van De Weyer from Deloitte.

Hanne Van De Weyer from Deloitte emphasizes the Early preparation allows you to map out impacts, review

importance of secure environments in the shift towards data, develop a robust methodology, and address

electronic invoicing. Organizations must guarantee the potential challenges in advance. This proactive approach

robustness and security of external portals used for ensures smoother implementation across multiple

distributing invoices, be it through service providers’ countries and provides your organization with a head

platforms or governmental portals. The protection start. Early adoption not only allows you to fine-tune your

of sensitive data throughout the invoicing process is processes but also positions your organization to quickly

paramount. Ensuring the integrity and confidentiality adapt to new requirements, giving you a competitive

of data as it passes through these external systems edge in the market. By beginning preparations now, you

is essential to prevent breaches and maintain trust. It can ensure readiness, efficiency, and effective change

is absolutely critical for organizations to validate that management when e-invoicing becomes mandatory.

these portals provide a secure environment to protect Another important aspect, in addition to the readiness
data against unauthorized access and cyber threats. of e-invoicing and e-reporting strategies, is the broader
implications these changes bring for companies. The
numerous reporting requirements running in parallel—such
as traditional VAT compliance, e-invoicing, e-reporting,
SAF-T, and the emerging ESG reporting—highlight the need
for a cohesive data strategy. Hanne Van De Weyer from
Deloitte: “We see that this is a new focus area not only for
our clients but also for tax authorities. Ensuring that all
these areas are aligned is crucial to maintaining control
over your data and addressing the challenges posed by
authorities during reconciliations and cross-checks.”

Billtrust Global E-Invoicing Report 2024 28

 1. Assess current □ Map and scrutinize existing invoicing processes.

systems and needs □ Establish global processes across your organization.

□ Ensure data integrity and quality.
□ Consider ERP system implications and current workflows.
□ Define a RASCI (Responsible, Accountable, Supporting, Consulted,
and Informed) matrix to clarify roles and responsibilities.
□ Set clear objectives for e-invoicing.

Recommended 2. Choose the right

e-invoicing solution
□ Research and compare providers.
□ Select a scalable and globally-minded platform.

steps
□ Ensure seamless integration with existing systems.

3. Understand and comply □ Stay updated on e-invoicing regulations.

with regulations □ Consult with legal and tax advisors for compliance.
E-invoicing encompasses several □ Implement robust governance frameworks.
interconnected components that
4. Leverage the right □ Adopt AI and automation.
must harmonize effortlessly. Although
technologies □ Utilize cloud computing for scalability and cost-effectiveness.
the subsequent steps offer a broad
framework, bear in mind that this 5. Integrate e-invoicing □ Develop a detailed integration plan.

with existing systems □ Conduct thorough testing.

compilation is not exhaustive and
may differ depending on your specific
6. Train and educate staff □ Understand the impact on stakeholders.
business requirements. Nevertheless, □ Provide training programs and user guides.
□ Offer ongoing support.
it does provide a strong foundation
to kickstart your e-invoicing 7. Implement and □ Roll out in phases starting with a pilot.

strategy effectively. monitor the system □ Track KPIs and gather user feedback.

8. Optimize and adapt □ Continuously improve processes based on feedback.

□ Stay updated on technological and regulatory changes.
□ Expand e-invoicing usage.

Billtrust Global E-Invoicing Report 2024 29

 “By beginning preparations
now, you can ensure readiness,
efficiency, and effective change
management when e-invoicing
becomes mandatory.”
Hanne Van De Weyer
Senior Manager Tax Technology Consulting
Deloitte

Billtrust Global E-Invoicing Report 2024 30

The future is connected
The global business landscape is rapidly
evolving towards a connected future.

Traditional paper and PDF invoices Here’s where Billtrust empowers your connected future:
give way to structured e-invoices,
With Billtrust, unlock the full
driven by both customer demand and – Billtrust Connectivity Service: Our service simplifies this
complexity by providing pre-established connections potential of a connected e-invoicing
government regulations. However,
this shift introduces complexity as across B2B and B2G invoice networks. You gain instant future. Achieve compliance,
businesses navigate a multitude of B2B access to a global network, eliminating the need to build streamline operations, and ensure
and B2G channels, each with specific and manage individual connections.
a smooth cash flow – all through
requirements. Managing these disparate
– Compliance expertise: Stay ahead of the curve with our a single, reliable solution.
networks can hinder operational
deep understanding of evolving e-invoicing regulations
efficiency and disrupt cash flow.
across the globe. We help you navigate national
Billtrust recognizes this challenge. The requirements and ensure seamless implementation.
sheer volume of existing invoice networks,
– Streamlined operations: Eliminate the need for
with more constantly emerging, creates
fragmented solutions and local providers. Billtrust
a significant burden for organizations.
offers a single point of contact for all your e-invoicing
Building and maintaining individual
needs, simplifying your operations and reducing
connections is time-consuming,
administrative overhead.
expensive, and prone to errors.

Billtrust Global E-Invoicing Report 2024 31

Appendix:

A snapshot
of e-invoicing
mandates
around the
world
A snapshot of the most important
updates in the last 12 months.

Billtrust Global E-Invoicing Report 2024 32

A snapshot of e-invoicing
mandates around the world

🇧🇪 Belgium 🇩🇪 Germany
Belgium has obtained Parliamentary endorsement to Germany is undergoing a significant transformation in its invoicing practices, driven by recent legislative
enforce mandatory electronic invoicing nationwide. changes. The new law mandates the use of e-invoices for domestic taxable sales between German
This approved legislation entails amendments to the businesses (B2B) starting from January 1, 2025. Although full implementation is scheduled for January
established Value-Added Tax Code and Income Tax 2028, transitional measures have been established to facilitate a smoother adaptation for companies.
Code of 1992, introducing fresh e-invoicing mandates.
The implementation of mandatory e-invoicing will occur in different phases, with the following deadlines:
While electronic invoicing has been obligatory in the
public sector for some time, private sector taxpayers
must now gear up to send and receive e-invoices TIMELINE TARGETED ORGANIZATIONS

starting from January 1, 2026. Belgium intends to adopt

Jan 1, 2025 Taxpayers must be ready to receive structured e-invoices. Obtaining the receiver’s consent won’t
the Peppol framework, currently utilized in the public
be necessary for invoices sent in paper form or in unstructured electronic formats.
sector, to extend these requirements to businesses.
By Dec 31, Invoices for transactions carried out in 2026 can be issued in a paper form or non-structured
2026 electronic format, provided the recipient company consents to this method.
TIMELINE TARGETED ORGANIZATIONS

Jan 1, 2026 Registered taxpayers will have to issue, By Dec 31, Invoices related to transactions made in 2027 can be issued in a paper form or non-structured electronic format,
exchange, and receive invoices electronically. 2027 if the company receiving the invoice agrees to that and only if the total turnover of the taxpayer issuing the
invoice in the previous calendar year did not exceed €800,000. This means that if the company had a turnover
of more than €800,000, it will be required to issue structured e-invoices starting from January 2027.

Invoices related to transactions made in 2026 and 2027 can be issued in EDI
formats, if the company receiving the invoice agrees to that.

Jan 1, 2028 Issuing structured e-invoices is mandatory for all companies. Invoices on paper or non-structured electronic formats
are no longer allowed. EDI invoices must be compliant with EN 16931, and supplier and buyer both need to agree.

Billtrust Global E-Invoicing Report 2024 33

A snapshot of e-invoicing
mandates around the world

🇫🇷 France 🇬🇷 Greece 🇵🇱 Poland

In France B2B e-invoicing was supposed to start in No specific timeline has been set for the B2B invoice Poland has implemented an electronic reporting system
July 2024, but the government decided to delay that exchange mandate yet. However, it is crucial for the for invoice-related data for several years. While the
regulation. In October 2023, a new amendment bill supplier’s ERP system(s) to have the capability to introduction of a comprehensive business-to-Business
was circulated, with updated tentative dates. France send any produced invoice in real-time to the myDATA (B2B) mandate was originally scheduled for 2024, it
has decided to move towards a “mixed continuous portal via API. The system should then create a QR has been rescheduled to commence in February 2026
transaction controls (CTC) model” which will include code based on the myDATA message, embed it into for taxpayers with a turnover exceeding PLN 200
mandatory B2B e-invoicing and e-reporting. the PDF, and send it to the buyer. Integration with million in the previous year. For all other taxpayers,
an accredited service provider is not mandatory. the mandate will come into effect in April 2026.

TIMELINE* TARGETED ORGANIZATIONS Greece has initiated the enforcement of e-invoice

issuance for specific B2G transactions involving vital TIMELINE TARGETED ORGANIZATIONS
July 1, 2025 All businesses: voluntary pilot period. governmental entities like the Greek NHS headquarters,
Police Department headquarters, Schooling System Feb 1, 2026 Large enterprises (sales + PLN 200 million).
Sept 1, 2026 Large and mid-sized businesses headquarters, and more. From June 1, 2024, all
must issue electronic invoices remaining sub-governmental bodies will also be Apr 1, 2026 Other businesses.
and comply with e-reporting.
included in this requirement. This process involves an
All businesses must receive accredited service provider, crucial when submitting
electronic invoices. the actual invoice to the GSIS platform, which operates
under Peppol rules. Notably, the GSIS platform only
Sept 1, 2027 SMEs and micro businesses must accepts documents from accredited service providers.
issue electronic invoices and
comply with e-reporting.
TIMELINE TARGETED ORGANIZATIONS

* Each of these dates is subject to change and could be postponed by up to June 1, 2024 All the remaining sub-governmental
three months via a potential decree. bodies require the issuance of
e-invoices for B2G transactions.

Billtrust Global E-Invoicing Report 2024 34

A snapshot of e-invoicing
mandates around the world

🇲🇾 Malaysia 🇸🇬 Singapore
To support the growth of the digital economy, the Government On April 14, 2024, the Inland Revenue Authority of Singapore (IRAS)
intends to implement an e-Invoice mandates in stages to enhance confirmed the timeline for the new e-invoicing mandate. GST-registered
the efficiency of Malaysia’s tax administration management. businesses will be required to use InvoiceNow solutions to transmit
invoice data directly to IRAS for tax administration in phases.
E-invoicing in Malaysia was optional for B2G and B2B however starting from
august 1st 2024 it will be mandatory based on the taxpayer annual revenue. InvoiceNow is a nationwide e-invoicing network that was established based on
the Peppol network, which was introduced by IMDA in 2019. It has now become
The Malaysia model is clearance-based model that means every invoice the standard format for submitting business-to-government (B2G) invoices.
needs to be cleared by tax authority before it’s sent out to the buyer.
The GST InvoiceNow Requirement will utilize the Peppol 5-corner model (Peppol CTC) to
The Tax authority will issue a unique ID, Verification link, Time and date enhance the existing 4-corner model and establish a connection with the tax authorities.
stamp as a response back that the sender can input on his invoice and This will enable taxpayers to transmit invoice data to IRAS through an accredited service
generate a QR code for visualization purpose and share it to the buyer. provider. When businesses exchange e-invoices in the PINT SG format with their trading
partners via the InvoiceNow network, a copy of the invoice will also be delivered to IRAS.
The mandatory e-invoicing implementation timeline is applicable
based on the Annual Revenue of the companies:
TIMELINE TARGETED ORGANIZATIONS

TIMELINE TARGETED ORGANIZATIONS

May 1, 2025 Early voluntary adoption by GST-registered companies.

Aug 1, 2024 Mandatory e-invoicing for businesses with an annual

turnover of MYR 100 million and more. Nov 1, 2025 Newly incorporated companies voluntarily registering for GST.

Jan 1, 2025 Mandatory e-invoicing for taxpayers for businesses with an annual Apr 1, 2026 All new voluntary GST registrants.
turnover of more than MYR 25 million and up to MYR 100 million.

July 1, 2027 Mandatory e-invoicing for all businesses.

Billtrust Global E-Invoicing Report 2024 35

A snapshot of e-invoicing
mandates around the world

🇦🇪 UAE 🇲🇽 Mexico
The Ministry of Finance of the United Furthermore, the UAE will establish In Mexico, the implementation of e-invoicing and real-time reporting to tax authorities
Arab Emirates (MoF) has revealed its its own Peppol Authority and leverage began in 2011 for large taxpayers and was extended to all businesses in 2014. Prior to this,
plans for previously announced E-Billing Peppol PINT as format, similar to invoice issuance was paper-based but regulated through government-authorized printers.
System, on 14 February 2024. other non-EU Peppol jurisdictions.
This system revolves around the use of the Comprobante Fiscal Digital por Internet (CFDI)
The MoF is initiating a regime that couples The announced timeline for the electronic invoice, consisting of an XML file and a readable PDF version. These invoices are
CTC Reporting with an e-invoicing mandate. regulatory process is as follows: digitally certified by the Mexican tax authority, Servicio de Administracion Tributaria (SAT).

This mandate employs a Decentralized – Q3 2024: Service Provider Certification The process for generating approved CFDI e-invoices involves several steps:
Continuous Transactions Control and Exchange requirements and procedures and
(DCTCE) five corner model. This framework development of Data Dictionary | Only
Setup: CFDI Invoice Issuance:
facilitates the movement of electronic invoices certified SPs will send the data to a
between the service providers of trading entities, central platform of the Tax Authority. – Taxpayers are required to – The vendor creates an e-invoice containing
where only certified service providers are – Q2 2025: e-Invoicing Legislation register with SAT for a Federal customer and taxable service details, assigned
authorized to transmit this data to a centralized Taxpayer Registration. a unique vendor invoice number.
platform managed by the Tax Authority. – December 2025: Roll-out strategy
– They must obtain a unique – The e-invoice is electronically transmitted to the PAC for
– July 2026: Phase 1
UAE’s mandate does not implement any type of electronic signature key (FIEL) validation, which returns it with the vendor’s CSD stamp.
clearance system. Service providers of trading With this mandate, the UAE becomes and a digital stamp certificate – Simultaneously, the PAC sends the stamped CFDI to SAT.
parties will exchange the e-invoice without a to the third CTC jurisdictions in the Gulf (Certificado de Sello
Digital or CSD) from SAT. – The vendor’s accounting system generates
validation or intervention from the Tax Authority. region, joining Saudi Arabia and Israel.
the PDF version of the invoice.
– Taxpayers appoint a
Initially, the mandate will encompass B2B and – The XML version of a CFDI must include the issuer’s FIEL.
government-approved
B2G transactions, with the potential inclusion
e-invoicing company (PAC) to – Cancellation of a CFDI requires the vendor
of B2C transactions in future considerations.
validate and stamp invoices to submit a cancellation request via the PAC.
upon issuance. The PAC No credit will be permitted upon cancellation.
also provides secure storage The customer must then approve or reject the
TIMELINE TARGETED ORGANIZATIONS
and retrieval for invoices. cancellation request within seventy-two hours.
July 2026 Mandatory e-invoicing for B2B and B2G transactions.

Billtrust Global E-Invoicing Report 2024 36

References
1. Billentis. The global e-invoicing and tax compliance report: Watch
the tornado. https://peppol.org/wp-content/uploads/2024/06/
Billentis-Peppol-May-2024.pdf. April 2024.

2. Deloitte. “EU Member States Again Fail to Agree on VAT in

the Digital Age Proposal.“ https://www.deloitte.com/be/en/
services/tax/blogs/eu-member-states-again-fail-to-agree-
on-vat-in-the-digital-age-proposal.html. 21 June 2024.

3. Billentis. The global e-invoicing and tax compliance report: Watch

the tornado. https://peppol.org/wp-content/uploads/2024/06/
Billentis-Peppol-May-2024.pdf. April 2024.

4. Allianz Research. The cost of pay me later. https://www.allianz-trade.

com/content/dam/onemarketing/aztrade/allianz-trade_com/en_gl/
erd/publications/pdf/2024_04_04_WCR_DSO.pdf. 4 April 2024.

Billtrust Global E-Invoicing Report 2024 37

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