General State Administration to save 5.5 million per year with Facturae

AGE

As of 15 January next year, Central Government could save around 5.5 million euros a year thanks to the rollout of electronic invoicing. According to the Avanza Plan calculations, each document will cost 3.48 euros less than the same process on paper. Of these, 2.78 euros -the lion’s share – corresponds to the recipient, while 70 cents goes to the sender.

Moreover, replacing traditional bills with electronic invoices will cut the time given over to this process by approximately 80%. Whereas it takes around 17 min to create an invoice manually, it takes barely 3 to generate a bill in electronic format. This is because e-invoicing almost completely automates the majority of the tasks and minimizes the margin of error of the traditional process.

In 2013, suppliers to the General State Administration processed around 2 million invoices. As of January 15, 2015, it will be compulsory to submit them electronically in Facturae 3.2 format. The aim, besides saving money, is to shorten payment times, improve fiscal control, streamline the procedure and allow suppliers to check the current status of their invoices in real time.

Although Law 25/2013 does not stipulate the compulsory nature of Facturae until within 4 months, some regions have brought this date forward. This is the case of La Rioja and the Generalitat Valenciana, where it was implemented on 1 July. At regional level, the Valencian Government expects to save 500,000 euros in this early stage.

Meanwhile, other Spanish local and regional administrations are already gearing themselves up technologically. In fact, some of them have had e-billing platforms up and running for some time now. Among them, the Murcia Region and Castile-La Mancha.