Buyer’s checklist for e-invoicing software

Compliance and regulatory support

1. Does the vendor support compliant electronic invoicing in 10 or more European countries?

   Ensure the vendor can handle the specific regulations of multiple countries.

2. How does the vendor stay updated with evolving regulations and ensure ongoing compliance?

   Look for vendors with robust systems and processes for tracking and implementing regulatory changes before the update takes effect.

3. What specific measures does the vendor have in place to handle diverse business-to-business (B2B) e-invoicing mandates across different countries?

   Verify that the vendor has detailed processes for managing varied compliance requirements and any industry-specific requirements.

Solution capabilities and services

1. Is the e-invoicing solution developed in-house or acquired through merger and acquisition (M&A), and how does this impact its reliability and innovation?

   Consider in-house solutions for more control and innovation or opt for M&A solutions to gain established expertise.

2. Is the solution available as a standalone product, or does it require integration with other systems?

   Consider the ease of integration with your existing systems to minimise disruption and effortlessly expand to other jurisdictions.

3. What is the vendor's current menu of services, and how do they align with your organisation's needs?

   Guarantee the vendor offers a comprehensive service suite that meets your specific requirements.

Financial and operational stability

1. What was the vendor's revenue in 2023, and does it meet the $10 million threshold?

   Ensure financial stability, which is crucial for long-term reliability.

2. How many employees does the vendor have, and what is their expertise in e-invoicing?

   Choose a knowledgeable and experienced team to provide better support and adaptability to changes.

3. What is the vendor's financial stability and track record in the market?

   Evaluate the vendor's financial health and market reputation.

Strategic alignment and future vision

1. How well do the vendor's current capabilities align with your organisation's current and future business goals?

   Ensure the solution supports your strategic objectives and aligns with future business goals.

2. What is the vendor's strategy for the next three to five years, and how does it align with your long-term requirements?

   Look for a vendor with a clear and aligned long-term vision.

3. Does the vendor have a clear plan for integrating e-invoicing with broader process automation and environmental, social, and governance (ESG) reporting?

   Consider vendors that can support broader business transformation, automation, and compliance to future-proof requirements and business growth.

Implementation and user adoption

1. What is the vendor's approach to ensuring company-wide integration and user adoption?

   Guarantee smooth adoption and expansion with a well-planned implementation strategy.

2. How does the vendor support early preparation and thorough evaluation during the implementation process?

   Early preparation, alignment to business strategy, and thorough evaluation are key to a successful rollout.

3. What ongoing support and communication channels does the vendor offer to maintain alignment and address issues promptly?

   Prioritize reliable support and communication to ensure long-term success and reduce the risk of non-compliance.

Market trends and innovation

1. How does the vendor address the trend of expanding e-invoicing beyond traditional invoice management?

   Look for vendors that can support and automate broader Continuous Transaction Controls (CTC) and financial processes.

2. What is the vendor's approach to integrating e-invoicing with real-time industry operations and potential gross domestic product (GDP) calculations?

   Look for a vendor with advanced integration capabilities to provide valuable insights and efficiencies.

3. How does the vendor incorporate ESG reporting into their e-invoicing solutions?

   Ensure your vendor supports ESG reporting — which is increasingly important — to add significant value and future-proof compliance. Address these questions to streamline your purchasing process and select an e-invoicing vendor that meets regulatory requirements and drives broader business goals.