E-Invoicing: What it Takes to Get to World Class [Plus+]

e-invoicing highwaystarz/Adobe Stock

In this Spend Matters Plus series, we explore what makes run-of-the-mill electronic invoicing (e-invoicing) implementations different from those that are transformative and capable of aligning procurement and accounts payable (A/P) with broader business outcomes and metrics. In this analysis, we delve into topics that are important for procurement and A/P teams to discuss with their solution providers — and prospective providers — to enable a world-class e-invoicing deployment on their terms.

As part of this research brief, we first consider the corporate and public perspective on initiatives (aimed at the private sector), both of which involve differing goals, albeit with the need of the individual company deploying capabilities to keep in mind various sets of requirements regardless. In part, depending on jurisdiction, this dual “master” requirement — the business and government — is something that makes e-invoicing quite unique in the area of procurement technology. Next, we include a list of 10 key elements to diagnose the quality of an e-invoicing deployment and how providers stack up, as well as key e-invoicing questions to evaluate your performance and implementation, trends and value-add services that select e-invoicing providers are addressing. Finally, we provide an e-invoicing architecture framework to construct, deploy and manage a set of enabling capabilities based on your specific requirements.

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