E-Invoicing Market Expected to Grow by 20% Annually, Syncada from Visa Launches Enhanced Capabilities

Europe, North America, United Kingdom, United States


Today, Syncada announced enhanced capabilities with the launch of a robust e-invoicing tool in Europe. Designed to allow companies to further automate invoice processing, this offering can improve efficiency by eliminating manual paper processes.

Many analysts predict electronic processing and payment solutions, such as Syncada, will render paper-based invoice processing and management obsolete. Electronic and automated invoice processes can result in savings of 60-80% compared to traditional paper-based processing and is expected to grow at a rate of 20% annually, according to a recent study by Billentis titled E-Invoicing/E-Billing: Opportunities in a challenging market environment. As a pioneer in electronic invoice processing, the Syncada platform has processed more than half a billion transactions electronically since its inception.

With Syncadas launch of this innovative e-invoicing solution, European corporates may reap the benefits of e-invoicing while making payments and providing financing to suppliers around the globe. Integrated directly into the multibank network, the e-invoicing tool meets certain requirements set forth by European Union regulatorsincluding the ability to e-sign invoices as well as robust data capture to enable compliance with tax regulations.

Organisations around the world are turning to e-invoicing and e-billing to improve efficiency and save. Electronic processing gives visibility and control in ways that paper processing cannot, states Kurt Schneiber, Chief Executive Officer at Syncada. With Syncada, corporates can address the intricacies of e-invoicing in Europe, offering a competitive edge.

Visit www.syncada.com to learn more about Syncada and its multibank network.

About Syncada

Syncada from Visa provides a B2B network for financial institutions to enable clients to increase control over their financial supply chains, regardless of language or currency. Financial institutions use Syncada to deliver standardized invoice processing and payment with integrated financing to their corporate and government clients. Syncada processes millions of invoices for buyers and makes payments to tens of thousands of suppliers in 47 countries. In 2011, Syncada processed more than US$21 billion in payments. Visit www.syncada.com for more information.

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Kara Pritchett, 612-436-6311

KEYWORDS: United Kingdom United States Europe North America Minnesota

INDUSTRY KEYWORDS: Online Retail Supply Chain Management Transport Logistics/Supply Chain Management Professional Services Banking Finance Retail