Between 2024 and 2026, companies will be obliged to radically change the way they invoice (Order no. 2021-1190 of September 15, 2021). Instead of being seen as a constraint, this unprecedented electronic upheaval could be used to modernize all processes linked to the invoicing chain. So, how should we approach this digital revolution in invoicing?
How will bills change in 2024?
From July 1, 2024, the invoicing system for companies subject to VAT will gradually become entirely paperless. Initially, companies will receive electronic invoices. Then, from July 1, 2024 for large companies and January 1, 2026 for SMEs, they will have to issue them in the same way.
But that's not all. Invoices will no longer be sent directly from the supplier to the customer. Instead, they will be sent via a private, government-approved platform, which will be responsible for sending them to the recipients, as well as collecting the VAT data and forwarding them to the tax authorities.
So it's not just a question of a simple e-billing system, but a complete process.
The benefits of electronic invoicing
The dematerialization of business-to-business exchanges has been around for some time. It's just moved up a gear.
Opting for electronic invoicing allows you to :
- reduce invoice processing time,
- see at a glance the invoicing situation (invoices sent, paid, due, unpaid),
- automatically send reminders,
- improve payment times,
- combine accounting and banking software with billing software,
- automate certain accounting procedures,
- reduce the risk of errors,
- data security,
- save on postage and paper.
Digitizing services
The vast amount of data stored in the system will enable the creation of a single repository accessible to all departments. The use of statistics derived from this data will inevitably influence the company's chosen strategy.
Departments such as accounting, billing, ordering and delivery will have centralized access to tools, with real-time updates. Work sharing will be instantaneous, resulting in greater team cohesion.
It goes without saying that inventory management will be optimized. As for customer relations, they can be improved thanks to the wealth of information instantly available.
The dematerialized management of company procedures is, in the long term, a source of productivity gains, even if the initial implementation requires some effort. These days, it's imperative to remain competitive by keeping pace with market trends, and that means adopting digital technology.
This reform comes at just the right time for all those who were still hesitating to take the plunge.
Order of September 15, 2021 on the generalization of electronic invoicing in transactions between VAT taxpayers and the transmission of transaction data.