Navigating the tornado: Insights from The global e-invoicing and tax compliance report

The latest market research report from Billentis, “The global e-Invoicing and tax compliance report: Watch the tornado!“, offers an extensive analysis of the electronic invoicing landscape, highlighting significant advancements and the evolving regulatory environment that shapes global digital trade practices. Authored by industry pioneers Marcus Laube and Bruno Koch, the report examines the tornado of user adoption, pivotal shifts, and innovations accelerating the business messaging market toward significant growth and increased complexity. Let’s navigate the tornado; here are the four summarized findings.

The e-invoicing sector is poised for a robust expansion. Current trends predict the annual handling of approximately 560 billion invoices by 2024, with around 125 billion expected to be processed electronically. From a market value of $8.9 billion, projections suggest a rise to about $23.7 billion by 2028, driven by the need for enhanced compliance and operational efficiency in business transactions.

Tax authorities worldwide embrace e-invoicing with Continuous Transaction Control (CTC) models to combat tax evasion, facilitating real-time transaction processing and auditing. Notable initiatives include Europe’s “VAT in the Digital Age” (ViDA) and the adoption of Peppol standards across Asia, signaling a shift towards more integrated compliance and operational frameworks.

The transition to IDT is emerging as a holistic approach to automating business transactions and financial operations. Supported by government mandates, this shift encompasses a broader spectrum of business messages and processes, varying significantly between SMEs and large companies in its implementation.

The integration of emerging technologies such as Artificial Intelligence (AI) and blockchain with e-invoicing systems is introducing new efficiencies and enhancing capabilities. This allows businesses to comply with regulatory frameworks and secure a competitive advantage through improved accuracy and security.

The e-invoicing landscape is rapidly evolving, with technological advancements and regulatory changes steering the market toward greater efficiency, compliance, and global competitiveness. Organizations that adapt quickly to these changes stand to gain significant advantages.

Download the full market research report “The global e-invoicing and tax compliance report: Watch the tornado!” to get the full analysis of the e-invoicing and tax compliance landscape and navigate these complex changes. This document is essential for any business looking to stay ahead in an increasingly digital world.