Mandatory e-invoicing in Belgium is widely appreciated by entrepreneurs after six months. Research shows that the majority experience administrative efficiency and peace of mind, although cybersecurity remains an important point of focus.
Six months after the introduction of mandatory e-invoicing for B2B transactions in Belgium, the initial evaluations are remarkably positive. Where there was initial hesitation, entrepreneurs now appear to be embracing the transition en masse, according to research conducted by iVOX on behalf of Billit, a platform for digital invoicing and administration.
Although Flanders seems to be leading the way, there are also studies that map out the backlog. A recent study by AFAS Software shows that one in five Belgian companies is lagging behind with mandatory e-invoicing.
Smoother than expected
The research shows that 82 percent of respondents consider the e-invoicing obligation a good thing. For nearly three-quarters, the transition went smoother than previously estimated, while only six percent indicated they had difficulty with the implementation. As a result, the initial reluctance among many entrepreneurs quickly disappeared.
Currently, 79 percent feel completely familiar with the e-invoicing system. Entrepreneurs no longer see digitalization as an imposed obligation, but as an opportunity to optimize their administrative processes. In particular, the centralized structure and the overview of documents are seen as assets.
Improved cash flow
Digital invoicing leads to significant time savings: 60 percent of companies save time, with one-third gaining up to one hour per week and nearly three percent even gaining up to a full working day. In addition, 62 percent send out invoices faster and 66 percent follow up on payment arrears better.
This benefits financial health and cash flow. Indeed, a study last year showed that SMEs that are financially healthy are more likely to embrace Peppol. Another study states that half of Belgian SMEs see time savings through Peppol, while a third experience time loss.
According to Billit founder Tom Van Gaever, the administrative simplification provides more peace of mind and room to focus on the company’s core activities.