e-Invoicing

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The Business Payments Coalition is leading a 3-year effort to explore the feasibility of developing and implementing a standard, ubiquitous B2B electronic invoice and processing platform similar to ones that have been developed in other countries. The following links are the outcomes to date on the work.

The Business Payments Coalition requests participation in an anonymous survey for Procurement, Accounting and Financial professionals to identify business practices and requirements for electronic invoicing. Complete the survey (Off-site) to help develop an e-Invoice semantic model for the U.S. market.

A semantic model defines the meaning of data in an electronic invoice. It is a critical component for interoperability to simplify the exchange of electronic invoices between U.S. businesses. The semantic model includes parties and roles; business functions, processes, rules and terms; and data types used in electronic invoices.

Resources

  • U.S. Adoption of Electronic Invoicing: Challenges and Opportunities (Off-site) (2016)
    U.S. corporations lag behind the rest of the world in adopting electronic invoicing solutions. This white paper by the Payments, Standards, and Outreach Group of the Federal Reserve Bank of Minneapolis highlights opportunities for businesses to gain efficiencies and reduce costs by more broadly adopting e-Invoicing.
  • Catalog of Electronic Invoice Technical Standards in the U.S. (PDF) (2017)
    The Catalog documents the large number of electronic invoice technical standards that exist in the U.S. market, resulting in a fragmented market and interoperability challenges among the standards.
  • e-Invoice Interoperability Framework Assessment Report (PDF) (2018)
    Report of the findings of a preliminary e-Invoicing Interoperability Framework assessment with an overview of the goals and approach used for the preliminary assessment along with key themes that emerged.  The report includes recommendations and considerations for future BPC e-Invoicing efforts.

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