ITESOFT and electronic invoicing: a controlled transition

Based on article 153 of the 2020 finance law, the mandatory electronic invoice will come into force from July 2024, for inter-company exchanges, according to a specific timetable. If all companies must be able to receive invoices electronically on this date, the deadlines are decreasing according to the size of the company. However, as the deadline approaches, less than 10% of French companies have completely digitized their invoice-related processes, according to a study by ITESOFT and Markess. According to this same survey, 60% of companies need clarification on this regulation and more than half do not feel ready to support the invoice formats defined by the reform.

Already implemented in many South American and European countries, electronic invoicing has several objectives for the French State, as explained by Frédéric Massy, ​​CMO of ITESOFT, a software publisher specializing in particular in the dematerialization of exchanges: “ The first motivation is to limit VAT fraud, which is estimated at 13-14 billion euros per year. The objective is also to help companies to be more efficient by processing exchanges between suppliers and customers in a digital and less expensive way. This will also allow the state to have real-time information on the country’s economic activity. Indeed, the number of BtoB invoices in France is estimated at 2 billion per year, more than half of which are still in paper, email or PDF format. By channeling invoices via its own invoicing platforms, the State will have access to a great wealth of economic information “.

Turning a regulatory constraint into an opportunity

In order to fully benefit from this reform, ITESOFT recommends digitizing and automating its invoicing-related processes without delay. To do this, the French Tech player supports its customers throughout the entire invoice process: issue, transmission, reception. This through its “electronic invoice 2024 Ready” software solution, but also its audits and advice. With 650 customers, medium-sized companies or large accounts spread over 30 countries, the French company always puts innovation at the heart of its priorities, by investing 20% ​​of its turnover in its R&D. In this context ITESOFT will offer a Partner Dematerialization Platform registered with the State, as well as Dematerialization Operator services.

Thus, ITESOFT is well aware of the power of this reform and the benefits it can bring to companies. ” This will reduce invoice processing time. In addition, it is estimated that a manually processed invoice costs between 18 and 20 euros to a company, for around 2 euros for a digitized invoice. The company will also have greater visibility and traceability of its invoices and payment terms. France is deploying this reform with ambition, to serve businesses and not make it a constraint “, adds Frédéric Massy. ITESOFT therefore supports its customers in seeing the dematerialization of invoices as an opportunity to digitize successfully.

The news by the RTL editorial staff in your mailbox.

Thanks to your RTL account, subscribe to the RTL info newsletter to follow all the news on a daily basis

We wish to give thanks to the author of this short article for this incredible web content

ITESOFT and electronic invoicing: a controlled transition

Check out our social media accounts as well as other pages related to it.