IBM Corporation, SAP SE, The Sage Group Plc, Cegedim SA, and Comarch SA – PROMINENT MARKET PARTICIPANTS IN E-INVOICING MARKET
E-invoicing is a form of electronic billing and is used by trading partners to present and monitor transactional documents between one another and ensure the terms of their trading agreements are being met. E-invoicing is a growing market with rising adoption in various segments such as business to business, business to customer, and business to government, among others. E-invoicing exclusively refers to the electronic invoice exchange between buyers and suppliers. Various countries define e-invoicing differently based on the regulations and nature of businesses prevalent in specific countries. For the scope of this study, electronic invoices are defined as formal invoices with more than seven mandatory fields with the supplier and buyer authentication. For the exchange of e-invoices, there are various models that are being used across industries such as supplier direct model, buyer direct model, SaaS/PaaS model, network model, four corner model, multi-cloud model, and hybrid cloud model. Organizations across the world either exchange e-invoices directly with their customers or use third-party service providers. The growing trend of various digitalizing documents for efficient processing and compliance requirements is boosting the transition from manual paper-based invoices to electronic invoices on a global scale.
The global e-invoicing market has been segmented into five major regions: North America, Europe, APAC, MEA, and SAM. SAM holds the dominant share in the e-invoicing market, and APAC is expected to be the fastest-growing region in the global market. Policies in Europe are beneficial for the growth of varied businesses, which is one of the factors contributing to the development of the e-invoicing market in Europe. Public administrations across Europe have planned to become e-invoicing ready from April 2020. France, Estonia, Portugal, and Croatia are some of the countries which are working aggressively to bring the B2G e-invoicing mandate. In addition to that, B2B e-invoicing mandates are planned in France and Serbia from 2023 and 2022, respectively.
The top five companies in the e-invoicing market include IBM Corporation, SAP SE, The Sage Group Plc, Cegedim SA, and Comarch SA. The above listing of key players is derived by considering multiple factors such as overall revenue, current e-invoicing solution portfolio, new product launches, market initiatives, investment in technology up-gradation, mergers & acquisitions, and other joint activities. There are various other notable players in the global e-invoicing market ecosystem, such as Basware Corporation, Coupa Software Inc., Nipendo Ltd, Tradeshift, and Transcepta LLC.
Most of the market initiatives were observed in North America and Europe region, which have a high potential for e-invoicing market growth. Few of the important market initiatives and product developments from the industry are mentioned below:
|
Year |
News |
Country |
|
2020 |
Tradeshift announced its partnership with Chain IQ, for helping the organizations to generate savings with price transparency across the managed marketplace, as well as optimize and streamline the overall procurement processes to the users. |
North America |
|
2019 |
EDF Energy selects SY by Cegedim’s e-business for the digitization of its supplier invoices. EDF with the help of this solution digitized its business, financial, accounting, as well as data flows and communication processes. |
Europe |
|
2019 |
Basware announced the integration of Oracle Cloud with Basware e-Invoice Sending and Receiving solution which further added value to Oracle Financials Cloud customers and is available in the Oracle Cloud market place. |
Europe |
|
2018 |
Basware announced the integration of B2B payments capabilities with the NetworkPay solution which allow the user to pay automatically to suppliers once invoices are approved. |
Europe |
