An investigation 1 by IPSOS for Sopra Steria Next and Kolecto (Crédit Agricole's Fintech), involving 500 executives on the degree of maturity of French companies in relation to the electronic invoicing reform, reveals that " less than a third of French companies have already been in contact with a service provider to assist them in implementing the reform " and that "only 10% of them have signed up for a support package." Another figure that caught our attention was that " 75% of the companies surveyed say they do not have a clear understanding of the challenges posed by the electronic invoicing reform that will come into effect next year. "
Although the DGFiP (Directorate General of Public Finances) announced in a press release on July 28, 2023 that the implementation of this reform would be postponed, it is high time for companies that have not yet done so to address the issue... Because, althoughthe government has pushed back the reform's implementation date to September 1, 2026, by which time all companies must be able to receive their invoices electronically, it is well aware of the challenges and organizational upheavals this will cause for businesses. Consequently, the reform will go ahead, and this postponement should serve as a warning to companies that have not yet made progress on this project to pick up the pace!
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Switching to electronic invoicing,
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For those who still doubt the direct benefits they will derive from this reform, here are nine very good reasons to implement it:
- Legal compliance: Many countries and regions have implemented or are planning to implement regulations on electronic invoicing. Anticipating these reforms allows companies to comply with legal requirements and avoid potential penalties or fines.
- Cost reduction: Electronic invoicing offers cost reduction benefits compared to traditional invoicing. Companies can save on printing, postage, and storage costs for paper invoices. By anticipating the reform, organizations can optimize their internal processes and achieve significant long-term savings.
- Improved efficiency: Electronic invoicing automates and simplifies invoicing processes. Businesses can generate, send, and process invoices more quickly and efficiently, reducing payment delays and improving cash flow management.
- Traceability and transparency: Electronic invoicing offers greater traceability and transparency than paper invoices. Companies can easily track the status of invoices, ensure they have been received by customers, and have a detailed audit trail. This reduces errors, disputes, and late payments.
- Simplified records management: Storing and managing paper invoices can be costly and take up a lot of space. By adopting electronic invoicing, businesses can scan and archive their invoices electronically, making them easier to search, retrieve, and store long-term.
- Integration with accounting systems: Electronic invoicing can be integrated with companies' accounting systems, enabling automatic data synchronization and reducing data entry errors. This simplifies the invoice accounting process and improves the accuracy of financial data.
- Competitive advantage: Anticipating the electronic invoicing reform can offer companies a competitive advantage. By adopting electronic invoicing practices earlier than their competitors, companies can improve their brand image, strengthen customer relationships, and increase operational efficiency.
- Environmental responsibility: Electronic invoicing helps reduce paper consumption and associated waste. By anticipating the reform and adopting electronic invoicing, companies can play a role in protecting the environment by reducing their ecological footprint.
- Improving the working environment for employees: Think about it, the widespread use of electronic invoicing allows employees to save valuable time that they can invest in strategic tasks, often with higher added value... What senior management and management expect... Saving time is becoming a luxury!
As a publisher of trusted digital and dematerialization solutions, Docoon is naturally committed to working with its partners and customers to provide them with a secure and sustainable solution for the transition to electronic invoicing. We answer our contacts' questions in order to inform them and help them prepare for and successfully implement this major reform. Don't let the establishment of a new implementation schedule decide for you how to make this transition a success. It's still up to you to choose your partners to help you meet this challenge 😊.
(1) Source: Sopra Steria next and Kolecto
