The general banker consensus that banks can offer their corporate clients dynamic discounting with e-Invoicing is that there is an increased “buzz” for a select group of the noted providers but it is still “early days”.
Between €1m and €3m was saved per €1bn spent each year by 60 large global companies using this invoicing system, Taulia said. For small supply companies in need of cash, “e-invoicing” provides a way to request early payments rather than having to seek funding elsewhere. The earlier the payment to the supplier, the greater the discount will be to the buyer. But businesses do not necessarily have to take the saving and might opt to use the process to help strengthen their supply chains. “With a large manufacturer, they are reliant on a number of critical suppliers who help them – they don’t want their suppliers to fall over,” said Matthew Stammers, a director at Taulia.