TECHNOLOGY
54
We are living in exciting times when it comes to the digitisation agenda and financial supply chains . From January 2019 , electronic invoicing , or e-invoicing , will be compulsory for all companies in Italy and in April 2019 , the UK Government ’ s Making Tax Digital programme will come into force . These could be defining moments for the paper-free , e-invoicing movement across Europe as other countries take note and follow suit .
While automating finance departments and moving suppliers to online payment networks has been gathering pace , for those watching closely , it has been a painstakingly slow journey . Our friends in Latin America are much further ahead in the adoption of e-invoicing , primarily because authorities there have made e-invoicing mandatory across all business-to-government and businessto-business transactions . Although Chile was one of the first to introduce e-invoicing , others such as Brazil and Mexico have overtaken Chile due to strict mandates for usage .
Despite the journey to invoicing digitisation kicking off at a seemingly slower rate in the UK , the wheels are definitely in motion and we are only at the beginning of a sweeping European trend . So , what will this all mean for technology as we currently know it ?
MAY 2019