Progress of Electronic Invoicing in Asia

by Arin Ray, April 15, 2010
Industry Trends
Asia-Pacific

Abstract

Electronic invoicing speeds up payments and reconciliation processes, while automating manual operations helps achieve efficiency results.

In a new report, Progress of Electronic Invoicing in Asia, Celent analyzes the evolution of electronic invoicing in Asia and its adoption rate among different Asian countries. In the region, attention and investments are more focused on “paperless trade” (i.e., the dematerialization of trade documents). One reason for the low adoption rate of e-invoices is the not yet complete integration of the procure-to-pay and order-to-cash corporate processes.

“The quest for integration is closely linked to companies’ level of sensitivity to the offer of integrated banking services for cash and trade,” says Arin Ray, Celent Analyst and coauthor of the report.

“Asian companies have a substantial lack of confidence when it comes to relying on banks as their technology partners,” adds Enrico Camerinelli, Senior Analyst with Celent’s Banking Group and coauthor of the report.

This report provides an overview of the market in terms of trends and volumes, focusing on intercompany (business-to-business) invoicing practices as well as public sector (business-to-government) practices. The report pays particular attention to technology standards adopted for exchanging messages for electronic invoices and also for payments and commercial services. A detailed analysis of the adoption of digital signatures and other means of security is also provided. The report then reviews currently adopted technologies and business models.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned subsidiary of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

3

Introduction

4

 

Electronic Invoicing: Basics

4

 

Electronic Invoicing Benefits

6

 

Objective of the Research

7

 

Research Methodology

7

Results

9

Country Results

11

 

China

11

 

Taiwan

15

 

Hong Kong

19

 

India

22

 

Japan

24

 

Korea

26

Final Comments

28

Appendix

32

 

EIPP and EBPP

32

 

Taiwan

33

 

Hong Kong

34

 

India

35

 

Japan

37

 

Korea

39

Leveraging Celent’s Expertise

41

 

Support for Financial Institutions

41

 

Support for Vendors

41

Related Celent Research

43

Sign in to download reports and access personalized information