The countdown to the introduction of electronic invoicing between private individuals has begun: starting January 1, 2019, B2B invoices will be mandatory digitally. Designed to combat VAT evasion, this requirement is proving to be a new lever for Italian companies to activate digitalization processes and contain business costs.
This is, in fact, an important incentive to rethink internal company processes, starting with invoicing by processes, not by documents. First of all, it will be possible to more efficiently manage the vast amount of data generated by invoicing, currently undervalued, and use it to develop the company's business. It will also be possible to track all incoming and outgoing invoices, manage them more efficiently, organize staff activities, and ensure better archiving, optimizing the entire cycle from order to payment. This is a rationalization process that can, gradually, lead companies to involve other sectors and activities, triggering a deeper digitalization process.
A Business Process Management platform like Jamio openwork is a key tool for managing this important revolution, which, not least, enables significant savings. According to a study by the Electronic Invoicing and B2B eCommerce Observatory at the Polytechnic University of Milan, introducing structured electronic invoicing alone can save between €5.50 and €8.20 per invoice, while digitizing the entire order-to-payment cycle can save between €25 and €65 per cycle.
