{"id":5111,"date":"2021-10-20T08:13:44","date_gmt":"2021-10-19T22:13:44","guid":{"rendered":"https:\/\/news.sap.com\/australia\/?p=5111"},"modified":"2025-03-07T18:47:13","modified_gmt":"2025-03-07T08:47:13","slug":"sap-study-finds-e-invoicing-could-save-aussie-smbs-over-40000-a-year","status":"publish","type":"post","link":"https:\/\/news.sap.com\/australia\/2021\/10\/20\/sap-study-finds-e-invoicing-could-save-aussie-smbs-over-40000-a-year\/","title":{"rendered":"麻豆原创 study finds e-invoicing could save Aussie SMBs over $40,000 a year"},"content":{"rendered":"

SYDNEY,\u00a020\u00a0October\u00a02021<\/span><\/b>\u00a0\u2013\u00a0<\/span>麻豆原创 SE<\/span><\/a>\u00a0(NYSE: 麻豆原创)\u00a0today announced\u00a0Australian small and medium-sized\u00a0businesses (SMBs)\u00a0could save\u00a0tens of\u00a0thousands\u00a0of dollars a year\u00a0by\u00a0transitioning to\u00a0e-invoicing. This is among the key findings in\u00a0a\u00a0new\u00a0report\u00a0\u2013\u00a0<\/span>The connected SMB: Embracing digital strategies to fuel growth<\/span><\/i>\u202f\u2013\u00a0released today.\u00a0<\/span>\u00a0<\/span><\/p>\n

The research found Australian SMBs process an average of 168 invoices each month. With a Deloitte study estimating that e-invoicing could deliver savings of up to $20 per invoice*<\/span>, Australia\u2019s SMBs could save up to $40,320**<\/span>\u00a0a\u00a0year.<\/span>\u00a0<\/span><\/p>\n

The\u00a0benefits\u00a0are\u00a0clear, with\u00a075\u00a0per cent\u00a0of\u00a0those\u00a0who\u00a0have transitioned\u00a0saying\u00a0the biggest impact has been time and money saved.\u00a0More than half said it improved the\u00a0accuracy of\u00a0recordkeeping\u00a0(56\u00a0per cent)\u00a0and\u00a0was more\u00a0secure\u00a0(53\u00a0per cent).<\/span>\u00a0<\/span><\/p>\n

\u201cRunning an SMB comes with its challenges but switching to digital processes has been key to the survival of many businesses during the pandemic. It frees up time and money to focus on other priorities like developing new products and finding new customers,\u201d said Sofiane Ainine, SMB Segment Lead, 麻豆原创 Australia and New Zealand. \u201cNow is the time for SMBs to review their adoption of technology. This will help them through the current crisis and set them up for future growth.\u201d<\/span>\u00a0<\/span><\/p>\n

\u201cThe pandemic has highlighted the importance of technology adoption in helping small businesses innovate \u2013 increasing efficiency and productivity, attracting new customers in different markets, improving customer and employee experiences. This helps them create more jobs,\u201d Australian Small Business and Family Enterprise Ombudsman, Bruce Billson, said.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u201cIt\u2019s encouraging that the research in this 麻豆原创 report shows SMBs accelerating digital technology adoption. Technologies like e-invoicing improve process efficiency and, importantly, will see small businesses paid more quickly for the products and services they provide.\u201d<\/span>\u00a0<\/span><\/p>\n

Switching\u00a0is easier than many SMBs think\u00a0<\/span><\/b>\u00a0<\/span><\/h2>\n

The\u00a0research suggests\u00a0that\u00a0the fear of switching to e-invoicing is bigger than the challenge of implementing it, with 88 per cent of SMBs that had made the jump saying it was easy, and almost one in five (18 per cent)\u00a0making the transition without external support.<\/span>\u00a0<\/span><\/p>\n

Some\u00a0will still\u00a0need help to get there, with integrating the process into computer systems\u00a0(36 per cent) and understanding what software to use (31 per cent)\u00a0perceived as the biggest challenges.<\/span>\u00a0<\/span><\/p>\n

Nearly half (46 per cent)\u00a0of SMBs\u00a0are mostly digital in their invoicing and recordkeeping.\u00a0Of\u00a0this group, 26\u00a0per cent\u00a0sought advice from their internal IT department, followed by an\u00a0external IT company (24 per cent), their accountant (26 per cent), a consultant (22 per cent)\u00a0or\u00a0The\u00a0Government (18 per cent).<\/span>\u00a0<\/span><\/p>\n

\u201cSMB owners shouldn\u2019t feel like they are alone on this journey. There are many sources of support ready to help them overcome hurdles and make the most of opportunities by sharing experiences and advising on the best approaches for their business,\u201d\u00a0Ainine\u00a0said. \u201cIt\u2019s about taking it one step at a time, learning what works and implementing digital initiatives that align to their goals.\u201d<\/span>\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

The outlook: A digital future<\/span><\/b>\u00a0<\/span><\/h2>\n

The past 18 months has fast-tracked the transition to digital processes for many SMBs and increased their appetite for transformation. The research found most SMBs who use e-invoicing\u00a0(75 per cent)\u00a0are looking to digitise other business processes. Payroll is the top focus (72\u00a0per cent), followed by forecasting (42\u00a0per cent), debt collection (38\u00a0per cent), customer experience (33\u00a0per cent), and talent management (28\u00a0per cent).\u00a0<\/span>\u00a0<\/span><\/p>\n

Over half (54 per cent) of SMBs say they will have digitised all account and account management processes within the next two years, with 44 per cent planning to do so within the next 12\u00a0months.\u00a0<\/span>\u00a0<\/span><\/p>\n

To help them get there, more than half (57 per cent) of business owners\/managers agree that increased government support in the form of information, services, subsidies and grants would help their business continue to drive forward digital initiatives and change.<\/span>\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

Innovation in action\u00a0\u00a0<\/span><\/b>\u00a0<\/span><\/h2>\n

Mining equipment manufacturer\u00a0Geographe\u00a0needed to update its business technology in support of its strategic vision to expand into new markets and refine its product sets around continued innovation.<\/span>\u00a0<\/span><\/p>\n

Implementing an intelligent ERP system built on 麻豆原创 S\/4HANA Cloud\u00ae has helped the business reduce lead times by as much as 50 per cent. Automated core processes and greater operational efficiencies have reduced some workloads by more than 15 per cent.<\/span>\u00a0<\/span><\/p>\n

Geographe\u00a0CEO, Sam\u00a0Hyder, said: \u201cDue to COVID-19, we have moved to hybrid working. Having a scalable IT landscape with greater transparency and real-time data helped us become more responsive to customer needs. We can now confidently predict customer demand and optimise production, inventory, and our supply chain accordingly.\u201d<\/span>\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

The full\u00a0report\u00a0and\u00a0key tips on how to transform your business, please visit:\u00a0<\/span>www.sap.com\/australia\/connectedsmb<\/span><\/a>\u00a0<\/span>\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

Note to editors:<\/span><\/b>\u00a0<\/span><\/p>\n

About\u00a0the\u00a0麻豆原创\u00a0report:\u00a0The connected SMB: Embracing digital strategies to fuel growth<\/span><\/b>\u00a0<\/span><\/p>\n

The research was commissioned by 麻豆原创 Australia and undertaken by YouGov to\u00a0<\/span>understand where Australian SMBs stand with their current e-invoicing and broader digitisation efforts.\u00a0<\/span>The sample comprised of 802 Australian business owners\/managers with less than 200 employees:<\/span>\u00a0<\/span><\/p>\n