MySaaSPlace has just incorporated the ability to send e-invoices in a quick and easy way. It’s going to be obligatory in Spain since January 2015 for Public Administration suppliers. But e-invoicing also comes to bring a range of benefits for issuing and recipient companies and for all the Economy as well. Spanish Government has recently explained some of these benefits both in terms of cash and efficiency:
- Deploying e-invoicing in public and private sector is expected to generate € 51 million yearly earnings and €2.3 million savings by paper removing.
- It’s lead to suppose €16.9 million savings for the Central Government and €15 million for their suppliers.
- Government estimates €18 million yearly earnings for public companies, in addition to further savings in regional and local institutions.
In terms of efficiency, Spanish Government points the following benefits:
- It will speed up invoices processing, by incorporating IT, as well as following up will be easier to ensure faster payment.
- Providers will reinforce their position for the case of payment delays.
- Public Administration to improve accounting control in order to a better paying cycle compliance.
- There will be one only point to entry for invoices in each public organization.
- Administration accounting departments will be immediately aware of real account statement, in order to improve public account reliability.
- It will be possible average payment period follow up in order to meet with slowness in paying laws.
These definitely are good reasons for Public Sector to set the pace and for business and professionals to speed up their transition to e-invoicing model, as the way is for two.