Market Growth Numbers for European E-Invoicing

In a new report on e-invoicing, written by Bruno Koch, an independent and internationally renowned industry analyst and owner of the consulting company Billentis, it is estimated that over 150 billion invoices per year are exchanged worldwide, and these are to a large extent still paper-based. However, a rapidly increasing number of companies and consumers are adopting electronic invoicing.  This is true especially in Europe and Latin American where government mandates for supporting e-invoicing exists.

It is also estimated that approximately 5 million European invoice senders and 75 million recipients exchange electronic bills/invoices. Since practically all large European companies are using this new electronic process, e-Invoicing is quickly spreading among medium-sized and small companies. Therefore, market growth rates of 30-35% are expected in the coming years.

As small to medium sized companies begin to support electronic invoicing, I predict a big up swing in cloud based electronic invoicing services as many SMEs, like many large enterprises, simply don't have the knowledge or internal IT resources to support it in house.

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Kevin R Benedict Independent e-Invoicing/EDI Consultant, Analyst and Blogger
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*Full Disclosure: I am an independent consultant that has worked with and for many of the companies mentioned.