
Striata, a specialist in secure customer communications management, is once again a sponsor of the Billentis report. This year the focus is on 'E-Invoicing/E-Billing - Key stakeholders as game changers'.
According to the report, there are over 500 billion bills/invoices exchanged globally each year. This number is significantly up on last year (383 billion) but it's more to do with improved research rather than organic growth.
Michael Wright, CEO at Striata highlights some salient points:
* The number of consumer bills jumped considerably (200 to 330 billion), and the report is now incorporating an expanded amount of information on consumer electronic billing.
* The total proportion of electronic bills and invoices is still at a disappointing 8%, but up from 5% in previous years - this shows that there is still a lot of runway for this market.
* Latin America is the leader in both consumer and business electronic volume - contributing approximately 25 billion documents to the 40 billion total.
* The public sector is driving the greatest change in the industry. The Nordic countries lead the way, but Latam countries are now driving the change. By mandating that all invoices to the government have to be electronic, they are forcing the market to modernise and digitise. Frequently these programmes are opt-out (recipients have to request paper) rather than the more traditional opt-in, but more and more we are seeing mandatory change.
* Data exchange standards are facilitating new features in popular accounting software packages that allow the distribution of electronic invoices as normal workflow from within the package.
What are the game changers?
Driven by tax and regulatory reforms, Latam countries are forging ahead, mandating electronic invoicing for both business and now consumer invoicing. "This is evidenced by our own growth in Striata services in the region, which is topping 300% for the past two years," says Wright.
The early adopters are government and the public sector. Billentis states that as the Asian and European public sectors go the same way, this will be "game changer number one".
Billentis quotes the SME market as "game changer number two" as they are the "fat tail" of suppliers to the public sector and are now being forced to provide electronic invoices.
Then as solution providers step into the gap to provide software and solutions to both government and SMEs, they will become "game changer number three".
Other high-volume e-document opportunities
Wright points out that the headline number of 500 billion bills/invoices still excludes "Invoice-like messages" which groups together documents produced as receipts for which there is no further payment due. "Digital receipts are becoming big business for retailers - replacing the till slip, pay slip and proof of purchase.
"The other high volume document digitalization opportunity is statements - from bank statements to account statements - there are probably 100 billion of these produced each year," explains Wright.
"Further encouragement for secure document delivery via email is our finding that most consumers prefer to receive electronic bills via e-mail. Consumers find this the most convenient method, so our clients are able to drive the cost savings that they need," says Wright
Intelligent PDF for SME e-billing
Wright says for the first year the use of intelligent PDF documents with embedded XML data was pulled out as a mainstream solution for SME e-billing. The reason being that it covers 100% of the market.

Says Wright: "It's a long read - but if you are in the industry, it's the gold standard of annual reports. I suggest you get a copy..."
As Striata is a sponsor of the 2014 Billentis report (you will find the company featured on page 113) we would like to offer you a complimentary copy - simply e-mail marketing@striata.com
Bio: Michael Wright: Chief Executive Officer, Striata
Wright founded Striata in March 1999 with a view to build a global software business.
He is a pioneer of the internet industry. He speaks regularly on the use of email as a business tool and customer communication method. Wright has received numerous awards over the last 12 years in e-mail marketing, including "Direct Marketer of the Year" by the DMA and was a finalist in the "IT Personality of the Year" awards.
Before the formation of Striata, Wright was the managing director of VWV Interactive. Wright began his working career with PricewaterhouseCoopers, where he became a principal manager in the Consulting & Assurance Services (CAS) and was responsible for both Internet Strategy & Services and Business Information Services.
Wright is a Chartered Accountant. He served on the South African Institute of Chartered Accountants' (SAICA) information technology steering committee. He is a founding member and past Chairman of the Audit Bureau of Internet Standards (ABIS).
Wright is also the founder and executive chairman of the South African Chapter of First Tuesday, the "Global Thought Leadership Network".
Wright is now one of the world's foremost experts on e-billing adoption tools and techniques. He routinely consults and speaks on driving paperless processes in large organisations.
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