Belgium: Electronic invoicing can save companies billions

22nd September 2009, Comments 0 comments

The Federation of Enterprises in Belgium (VBO) has calculated that companies in Belgium could save EUR 3.5 billion by sending electronic invoices.

The Federation is asking organisations and companies explicitly to endorse electronic invoicing and to make the process as simple as using paper counterparts.

Five years after the introduction of electronic billing in Belgium still only 1% of all invoices are actually sent electronically.

According to the Belgian Task Force E-invoicing, it is high time that electronic invoicing be upgraded and promoted because the procedure is simple and more importantly free.

The Secretary General of the Federation of Enterprises in Belgium, Philippe Lambrecht, said that the security demands are far too strict. "The VAT regulation makes it difficult to switch over from paper invoices to the electronic variant. The complicated technical rules to invoice electronically makes life complicated for companies.”

Electronic invoices would not only save billions for Belgian companies but it would have the added benefit of making work more efficient, and cutting down on fraud.

The European Commission estimates that about 30 billion invoices are printed in Europe every year. Electronic invoicing could reduce the ecological footprint of the European Union by 3 million tons of CO2 per year.

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