Study Reveals Small European Businesses Can Save €13,500 Per Year Through Electronic Invoicing (PHOTO)
Frankfurt am Main (ots) – Electronic invoicing allows for significant efficiency gains for small and medium-sized enterprises, improves cash flow, and leads to substantial increases in productivity. This is the key finding of the new study „Electronic Invoicing: Enabling a Connected Real-Time Economy“ by Sage, a leading provider of tailored SME solutions for accounting, finance, human resources, and payroll.
The study’s findings indicate that the implementation of electronic invoicing offers small businesses an annual savings potential of around €13,500. This is due to the fact that the time required to process invoices is nearly cut in half. According to the results, 77 percent of business leaders are actively involved on a monthly basis, with 40 percent even taking action weekly to ensure timely payments.