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BLOCKCHAIN BASED INVOICING
• More than 90% of all invoices worldwide are still processed manually
• Volume for e-bills/e-invoices will achieve at least 36 billion word-wide with annual growth rates of 10-20% in 2017
• Estimated size of E-invoicing market is 3.3bln euro in 2017 with expected growth to 16.1bln in 2024
• 400 billion invoice/bill volume estimate in B2B/B2C/B2G/G2C/G2B
MARKET
• 300.000+ Public Administrations to support e-invoicing standards as per EU directives 2014/24/EU and 2014/55/EU
• Distribution channels changing from B2B Direct to B2B Service providers in EU
• B2B e-invoicing volume in North America predicted to grow by 20%
• Invoice-related digitalization in Latin America becomes a standard
• 47% of business receivables were fraudulent invoices in 2016
• 40% of European invoices are defaulted on or paid late• Less than 10% of invoices are currently digitised• No common and affordable data exchange platform
among trading partners
• True peer-to-peer immutable solution• Advanced encryption of data• Integrity, authenticity and privacy• Low transaction costs• Near real-time information exchange
FUTURE TRENDS
CHALLENGES
BLOCKCHAIN SOLUTION
COST COMPARISON: PAPER VS. E-INVOICING
Sources: 1. Billentis Opuscapita E-invoicing Report 2017, 2. EESPA - European E-invoicing Service Providers Association, 3. World Finance - Building the Future with Electronic Invoicing
ONE-TO-ONE DOCUMENT EXCHANGE
BENEFITS
Blockchain can deliver over
savings compared to e-invoicing,
while providing transparency and trust
among parties.
90%
FAST & SECURE DELIVERY
TRANSPARENCY & LESS DISPUTES
IMPROVED CASH MANAGEMENT
EXTENDED CON-TROL & REDUCTION OF FRAUD
TAX COMPLIANCE & REAL-TIME AUDITING
ENVIRONMENTALLY FRIENDLY
www.sophiatx.com
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