|By Business Wire||
|June 26, 2014 03:09 PM EDT||
Research and Markets (http://www.researchandmarkets.com/research/p9k9sm/einvoicing) has announced the addition of the "E-Invoicing Market in Europe 2014-2018" report to their offering.
The E-Invoicing market in Europe will grow at a CAGR of 11.78% over the period 2013-2018.
One of the major drivers in the market is the reduction in costs and improved customer relations. E-invoicing eliminates paper processing, reduces failed payments and processing errors, accelerates the purchasing process, and improves customer relations. Hence, e-invoicing reduces the total operational cost and the time spent on the purchasing process. This indirectly helps in increasing the production rate.
One of the major trends in the market is the increasing demand from the public sector. The public sector constitutes approximately 10 percent of the total invoices issued; however, most all of these invoices are paper invoices. Thus, there is tremendous saving potential in many European countries. Moreover, increasing demand from different public sectors such as Healthcare, Logistics, Electricity and the Water board is driving the market.
Many enterprises in these sectors have realized the importance of e-invoicing and they are increasingly adopting these solutions. Healthcare is considered an early adopter of this technology and it is known for investing heavily in IT. Additionally, government bodies such as the electricity board are growing at a higher rate and are expected to increase their market share in the near future. Today, in some countries in Europe e-invoicing is mandatory. For instance, in Denmark e-invoicing is mandatory for the public sector agencies, and Denmark will soon introduce rules and regulations with regard to e-invoicing for the public sector.
Further, the report states that increasing data security concerns is one of the major challenges confronting the market. As the invoicing process is SaaS-based, all data are stored in the cloud. The data present in the cloud can be used by anyone; thus, leakage of information can take place.
- Esker SA
- SAP AG
- Tieto Oyi
Other Prominent Vendors
- Fundtech FSC Ltd.
- IBM Corp.
- Itella Corp.
- GXS Corp.
- SwissPost Solutions
- TradeShift Inc.
Key Topics Covered:
- Executive Summary
- List of Abbreviations
- Scope of the Report
- Market Research Methodology
- Market Landscape
- End-users Segmentation by Business
- Key Leading Countries
- Buying Criteria
- Market Growth Drivers
- Drivers and their Impact
- Market Challenges
- Impact of Drivers and Challenges
- Market Trends
- Trends and their Impact
- Vendor Landscape
- Key Vendor Analysis
For more information visit http://www.researchandmarkets.com/research/p9k9sm/einvoicing
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