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E-invoicing adoption in Asia has grown quickly in recent years, positioning the region at one of the highest annual growth rates for e-invoicing.

The recent Economic and Financial Affairs Council, commonly known as ECOFIN, convened in Luxembourg in July. During this meeting, EU member states demonstrated broad agreement on the majority of proposals presented under the ViDA project.

Mandatory electronic invoicing has become increasingly prevalent in Europe in recent years, with a number of countries embracing this method to modernise and simplify their invoicing processes. The transition to e-invoicing has been gradual but steady, with a range of European nations passing legislation and regulations to encourage the uptake of mandatory e-invoicing.

Since the publication of Directive 2014/55/EU, e-invoicing has spread to all countries on the European continent.

The Romanian Ministry of Finance announces new plans to extend mandatory B2B e-invoicing, which will start in July 2024, to B2C transactions. 

It is expected that in July 2024, at the same time as mandatory B2B e-invoicing starts in Romania, the voluntary period for B2C transactions will start, which is expected to become mandatory in January 2025.

As part of the digital reporting requirements and the ViDA project, Romania will have to harmonise its centralised settlement model with the reforms proposed by the EU by 2035.

In Europe, electronic invoicing is present in all countries and much of the success of its use is due to the regulatory impulse by the different governments to accelerate its implementation through compulsion. Such is the success of the B2G e-invoicing that the use of it is being extended to the B2B field. In this post, we will see which European countries are already adopting this new modality of invoicing between companies.

The digitalization of companies is a reality, which is why more than 80% of countries already use electronic invoicing in their companies due to the benefits that this entails. One of the latest countries to join the use of B2B e-invoicing is Saudi Arabia.

The United States is the third-largest country, home to digitalization and artificial intelligence.

The electronic invoice is a powerful tool promoted internationally that brings a multitude of benefits to companies. Although as a rule there are a number of similarities in e-invoicing projects between different countries, the multitude of types of formats, platforms, legal regulations or the level of technological development make the electronic invoicing differ from one country to another.

In the supply chain, fluid communication between all actors that are part of the process is essential. Therefore, the Electronic Document Exchange (EDI) revolutionized all the parties that make up this supply chain, especially in sectors such as automotive, retail or logistics.