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Electronic invoicing Results CFO barometer
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Ernst & Young | 0
Electronic invoicing Results CFO barometer
31 May 2012
Ernst & Young | 1
170 participants
35,5% applies e-invoicing
56%
77%
39%
Accounts payable
Accounts receivable
Intercompany Of those that invoice electronically which flow of invoicing is electronic?
Ernst & Young | 2
Of those that have not yet started with e-invoicing, 44,4% do not have immediate plans
7%
35%
44%
14%
Currently implementing
Planned within 2 years
No immediate plans
Don't know
Yet, 40% of those that do not have any plans also believe that paper invoices will disappear in 10 years
Ernst & Young | 3
Main reasons for electronic invoicing Efficiency and cost savings predominate
79% Invoicing and archiving efficiency
67% Cost savings
33% Reducing ecological footprint
26% Client or supplier demand
20% Improved cash flow
20% Improved audit trail
Primary
Secundary
Ernst & Young | 4
Main challenges electronic invoicing Main challenge no longer regulatory compliance
56% Client / supplier acceptation and on-boarding
53% Integration in existing systems and processes
43% Complex regulation
Ernst & Young | 5
Accounts receivable PDF via e-mail predominates e-invoicing
Format
72% PDF
58% EDI message
11% Other or don’t know
Channel
64% E-mail
41% EDI
27% Web portal
11% FTP
7% Other or don’t know
Control over integrity & authenticity
33% EDI embedded controls
31% No control
25% Digital signature and / or timestamp
7% Algorithm
20% Other or don’t know
Ernst & Young | 6
Accounts receivable Only 26% archives paper A/R invoices electronically
74%
26%
0%
10%
20%
30%
40%
50%
60%
70%
80%
No Yes
Ernst & Young | 7
Accounts payable PDF via e-mail predominates e-invoicing
Format
85% PDF
33% EDI message
15% Other or don’t know
Channel
84% E-mail
22% EDI
22% Web portal
6% FTP
19% Other or don’t know
Ernst & Young | 8
Accounts payable 56% scans paper A/P invoices, however only 18% archives scanned invoices electronically
46%
54%
40%
42%
44%
46%
48%
50%
52%
54%
56%
No Yes
Paper archiving
Electronic archiving
Ernst & Young | 9
Electronic Invoicing and Archiving Internal control mechanisms become predominant
24%
3%
8%
9%
15%
17%
21%
24%
32%
Don't know
Other
Prescribed algorithm
Time stamp
Digital signature
WORM storage
Logging and audit trail
Logical access control
Internal control
Ernst & Young | 10
Compliance 0ver 70% believes their solution to be compliant
28%
72%
0%
10%
20%
30%
40%
50%
60%
70%
80%
No Yes
No
review
55%
Compliance
review
45%
Ernst & Young | 11
Some other findings
33% does not have documentation
28% works with a service provider
15% does not archive in original format
Ernst & Young | 12
Expectations for the future
25%
30%
31%
43%
47%
48%
Electronic audits VAT authorities
Standardization
Regulation will reduce
In 10 years paper invoicing is extinct
EDI alike will dominate B2B
PDF via e-mail will predominate
Ernst & Young
Assurance | Tax | Transactions | Advisory
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© 2012 EYGM Limited. All Rights Reserved.
Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Ernst & Young and the stylized Ernst & Young symbol are registered with trademark offices around the world.
This document is proprietary to Ernst & Young and the information contained herein is confidential.
This publication contains information in summary form and is therefore intended for general guidance only. It is not intended to be a substitute for detailed research or the exercise of professional judgment. Neither EYGM Limited nor any other member of the global Ernst & Young organization can accept any responsibility for loss occasioned to any person acting or refraining from action as a result of any material in this publication. On any specific matter, reference should be made to the appropriate advisor.
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