Order2Cash Newsletter - May 2017

The global state of e-Invoicing in 2017

According to the 2017 Billentis e-Invoicing report, the global e-Invoicing market is now worth in excess of EURO 3 Billion Euro annually. Surprisingly, it also mentions that more than 90% of all invoices are still handled manually. This shocking statistic is one of the key reasons that invoice digitisation and optimisation are of such key concern to so many companies around the world but it's not the only factor. 

The report goes on to discuss the major trends, developments and influencing pressures that are currently affecting the global adoption of e-Invoicing in detail. It makes for a compelling read.

The Billentis e-Invoicing report is highly recommended to anybody with an interest in e-Invoicing. It provides a unique, independent overview of the global marketplace and offers insightful advice on how to select an appropriate e-Invoicing service provider for your business. Order2Cash is proud to once again sponsor its publication.

If you would like to read this year's report, you can claim your free copy from the Order2Cash.com website. Download yours today.

Claim your copy
2017 Billentis e-Invoicing report

Project for a core EU e-Invoicing standard for the public sector nears completion

CEN/TC 434, the European Committee for Standardization's work group for e-Invoicing are continuing their work to finalise a core EU e-invoice standard;  as called for under Directive 2014/55/EU.

The semantic model of an e-invoice has been approved by National Standards Bodies, together with the List of Syntaxes to be supported - UBL and UN/CEFACT. As of 2018 all public bodies will be required to receive and process e-invoices in the new format. 

The following additional deliverables are presently out for balloting:

• Syntax Bindings

• Extensions methodology

• Transmission guidelines

A report on testing will be issued and the Commission will be reviewing the details to ensure that it meets the requirements of Directive 2014/55/EU. Further work is now being planned by the TC 434 work group to produce implementation guidance and support the challenge of imminent adoption across the EU public sector. 

 

In relation to this, you may also want to read this article by Oriol Bausa, CEO of Invinet Systems / B2Brouter.net. He offers a viewpoint that suggests this new core e-Invoicing standard could actually result in a more fragmented European e-Invoicing landscape. The article raises some interesting points and is worth a read.

Country specific e-Invoicing updates

What effect will Brexit have on e-Invoicing standards in the UK? Where can you send B2G invoices in Italy? What reporting formats are required in Poland? Details on these topics, amongst other information, can be found in our latest roundup of e-Invoicing news.

Accept2Pay opens its doors to all Order2Cash customers

Order2Cash has been servicing its customers with online payments for some time now. Our Accept2Pay module makes it possible to provide flexible e-payment options to your customer base and in turn get paid quicker. Although many of our customers have already implemented custom-built Accept2Pay features within their Order2Cash solution, we aim to open our payment features to all enterprises. As such, we have been working on ways in which we can roll Accept2Pay out to all Order2Cash customers in a faster and more flexible way. 

Accept2Pay

Our latest enhancements to Accept2Pay are now nearing completion. With an expected release date of July 1st, we will soon be able to offer extended payment functionality to all Invoice2Deliver customers. You can expect to benefit from:

  • Quicker onboarding.  Contracts with our Payment Service Provider partners have been standardised and reviewed. These can now be amalgamated into your Order2Cash contract, thus shortening the preparation phase significantly.
  • New payment link capabilities. Direct payment links can now be implemented within a notification email, or in a later phase through the website.
  • Status tracking. The status of any payment will be tracked and dynamically shown in the email as well.

We're also delighted to mention that the geographic coverage of Accept2Pay continues to expand, with our first customer in the US now accepting card payments. Many of these updates stem from close cooperation and communication with existing Accept2Pay customers.  Our product roadmap contains additional payment features, support for further territories and additional joint products for FX transactions.Your input has been invaluable in shaping the roadmap for Accept2Pay, and other Order2Cash solutions. If you have any additional payment requirements that we do not currently support, or would like to discuss adding Accept2Pay to your Order2Cash solution, then please don't hesitate to contact us.

 

Discover the 5 reasons why Connexxion chose to work with Order2Cash

"Everything relating to invoicing in one platform. That's efficient," says Marvin Koopmans of Connexxion. Read the full story here.

Order2Cash passes its latest ISAE 3402 Type II audit with flying colours

Order2Cash recently completed a full ISAE 3402 Type II audit, receiving an excellent report without any significant remarks. The audit covered the 2016 calendar year and focused on 9 areas of control, with more than 25 separate controls taken under scrutiny.

The ISAE 3402 Type II audit is regarded as a key quality control indicator for all outsourced service companies.  It was developed to provide an international assurance standard reporting on the controls in place at a service organisation. Controls examined are likely to impact, or be a part of, the user organisation’s system of internal control over financial reporting.

Order2Cash's latest audit report pays testament to the stringent controls and security mechanisms we have implemented to protect our customer data and its usage. The ISAE 3402 audit takes the key processes of a solution, the control objectives, key controls, user control considerations and other material information into its scope. Passing reports are only granted if a company can meet and support all items investigated in the auditing phase.

Upcoming Order2Cash webinars

We are currently hosting a short series of webinars for Order2Cash customers that will take place in May and June.The first couple of sessions have already taken place and were well received by all attendees. Seats are still available for our upcoming sessions, so be sure to register and save your place in the ones you find interesting.

The sessions cover the following topics:

Session A. A re-introduction to Order2Cash. The Order2Cash platform offers a wealth of functionality, capable of unlocking a broad range of benefits for you and your organisation.  As our service portfolio continues to expand you may find there's a lot more to the Order2Cash platform than you may be aware of. Learn more in this overview session. June 6 and 9.

Session B: 5 methods for converting receivers to e-Invoicing
Are you struggling to persuade your receivers to make the switch to e-Invoicing? This helpful onboarding session offers advice on how to make the most impact with your e-Invoicing project. From customer segmentation to incentives and proven strategies, this session will be of use to any Invoice2Deliver customer. May 26 and June 2.

Session C: A refresher training of Invoice2Deliver with Q&A
Need further training on Invoice2Deliver? This knowledge session will give you a quick recap of the main functionalities available within Invoice2Deliver, covering everything from account and receiver management to delivery checks, batch processing, quarantine and more. We'll show you some standard workflows that will help to make the most of your working time with the portal and we'll also have room for a Q&A so you can ask any account, technical or support questions you may have. June 8 and 23.

Read more about these sessions and register here.

Order2Cash on the road

We're on the road again.

As Spring gets towards its height in the Northern Hemisphere, so the main events season kicks into gear. Order2Cash has already been in attendance at events across the Benelux, Eastern Europe, the UK and the USA in recent weeks but our summer roadshow is only just beginning. In June alone you'll be able to find us at the following events:

OnGuard Academy - June 1 - Ijsselstein, NL
A joint event hosted by OnGuard, Credit Tools and ourselves, this free afternoon session focuses on the future of the order to cash process. We will look ahead to 2020 and analyse what technology, digitisation and optimisation could bring to an organisation and discuss the impact that can have on customer interaction and relationship management. You can read more about the event (in Dutch) here.

NACM Credit Congress & Expo -  June 11-14 - Grapevine, Dallas, Texas, USA
NACM and Order2Cash are headed to the state where everything is big and bold. Join us where history merges with the modern and countryside collides with cityscapes to create the beauty and brass of Texas! This exposition is the largest gathering of business credit and financial management service providers in the USA. Don’t miss this opportunity to speak one-on-one and see on-site product demonstrations. More details here.

Credit Institute of Canada National Credit Conference -  June 13-16 -  Vancouver, CA
The Credit Institute National Conference offers an excellent opportunity to keep up to date with industry changes, best practices and management skills that could save your company money and make you stand out as an expert in delivering profits through effective credit management. Find out more here.

CM: Nationale Controllersdag - June 22 - Ede, NL
This one day session focuses on the current role of the Financial Controller and how, in today's marketplace, every area of their role needs to operate at full speed. By examining the relationships between technology and man-power, traditional processes and innovative new financial solutions, the event aims to showcase a fundamentally different way of dealing with time and money. More information can be found here (in Dutch).

 

For a full list of our upcoming events, visit our website.

We welcome new companies to the Order2Cash community

The Order2Cash community continues to grow at a rapid pace. This month, we're delighted to welcome the following customers. We're very proud to serve you all.

Order2Cash new community members