EU Payment Observatory: Can eInvoicing help to reduce late payments?
The shift from paper-based to electronic invoices is gaining momentum. Driven first by big enterprises in order to automate internal processes, eInvoicing is now being adopted by businesses of all sizes. This is, in part, the result of governments’ initiatives to reduce tax evasion, as shown by the EU’s VAT in the Digital Age (VIDA) and Member States’ eInvoicing mandates.
A recent report by the EU Payment Observatory explores how an increasing uptake of eInvoicing could help in reducing late payments. Identified benefits stem mostly from efficiency gains, although electronic invoicing can also contribute to greater transparency and the offer of more attractive and cost-efficient supply chain solutions. However, eInvoicing seems to have little effect on payment behaviour and it also presents hurdles for SMEs, which are the companies most affected by late payments.
During this webinar the report will be presented, followed by a panel debate on the impact of eInvoicing on late payments. We will discuss how the positive effects can be maximised, and how implementation challenges can be overcome.
AGENDA
Introductory remarks
- Antonella Correra, Policy Officer, DG GROW
Presentation of the Report
- Beatriz Pozo, Financial Markets Unit Coordinator, CEPS
Discussion
- Charles Bryant, former Secretary General, European E-invoicing Service Providers Association
- Romain Bocognani, Deputy Director General and Director of Institutional Relations and Foreign Affairs, ANCE
- Adam Prince, Global Head of E-Invoice, Compliance & Embedded Finance Strategy, Sage
Moderated by Cinzia Alcidi, Senior Research Fellow, Head of the Economic Policy and Jobs & Skills Unit, CEPS
