SMEs are not ready for electronic invoices

Mandatory electronic invoice will soon be a reality for all companies and self-employed workers, They will have to present this document by electronic means as long as it is addressed to clients who are companies or self-employed workers, as we mentioned in this article.

Be mandatory for companies with a turnover of more than €8 million by mid-2025. and the obligation It will be extended to all self-employed workers and companies in 2026, so there is only a year and a half left to face this transition. However, it seems that we are little prepared for it.

According to the survey ‘Electronic invoicing: the path to a connected economy’, prepared by Sage, Most Spanish SMEs are not ready to adopt electronic invoicingsince at 79% It is something totally unknown to them and 86% still They do not use it in their transactions with other companies (B2B), although it is somewhat more common in exchanges with the administration (B2G), since almost 1 in 5 of them (19%) are already using it in this area.

Furthermore, they admit that they are not ready to catch up immediately, since only a fifth of them (20%) believe they could implement it by 2024. And another fifth (21%) consider that they would be able to do so by 2025.

The report warns that a worrying factor among Spanish SMEs is the high degree of ignorance regarding electronic invoices, since Only 28% of national SMEs claim to be aware of the details related to its obligation.

Sage affirms that billing between companies in our country entails great difficulties for businesses, since 1 in 4 invoices issued by SMEs in Spain are difficult to process due to lack of information, formatting errors or unclear terms.

AND This causes delays in financial tasks and a great consumption of time for business managers.. In fact, almost 4 out of 10 managers of Spanish SMEs (39%) say they have to intervene at least once a week in billing issues, despite not being financially responsible for the company.

Benefits of electronic invoice

Despite the lack of preparation for the adoption of electronic invoicing, most companies understand that it will be beneficial for their business and they see it as a natural step in the digitalization of the company.

Thus, the survey discovers that a 60% of Spanish SMEs consider its mandatory use positive. And almost two-thirds (62%) believe it will bring benefits to both the economy and their businesses.

Also, they think that It will be useful to resolve problems such as late payments (57%) and to reduce errors when receiving and processing invoices from suppliers (43%).

Likewise, those responsible for SMEs hope that electronic invoices can bring benefits to their businesses as a greater financial precision and reduction of errors (24%) or a reduction in costs (17%).

Sage assures that The results are highly satisfactory for companies in the countries where it has already been implemented the use of electronic invoice, such as Australia, Finland and Singapore.

Thus, although 45% of SMEs were concerned about the lack of knowledge or understanding of the regulations before adoption, after their use They show very high levels of satisfaction (88%), as well as a high recommendation rate to other businesses to use it as well (88%).

Furthermore, Sage emphasizes that the adoption of the Electronic invoice serves as a springboard for greater digitalization of SMEs. Not in vain, 90% of the companies consulted around the world declare that they have acquired additional technologies after the change to this technology. Specifically, 22% have invested in Artificial Intelligence for financial tasks.