target audience: TECH SUPPLIER Publication date: Apr 2023 - Document type: Market Perspective - Doc Document number: # US50470623
The Evolution of e-Invoicing: Examining the Accelerating Convergence of Compliance and Accounts Payable
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Abstract
This IDC Market Perspective examines the convergence trend among financial application vendors related to increasingly complex global e-invoicing mandates. With the growth of e-invoicing, tax compliance software vendors have also worked to enhance their e-invoicing capabilities.
"Based on recent product announcements and M&A activity, VAT compliance is set to become a major competitive battleground for tax software vendors throughout the forecast period. The advantage will go to those that have been aggressive in adding features that help users mitigate VAT complexity while providing guidance amid constant global regulatory change," said Kevin Permenter, research director, Financial Applications at IDC.