In general 99% of the companies consist of Small and Medium Enterprises (SME’s), of which on average 60% are freelancers and single contractors. For most of them e-mail and PDF are the preferred tools for invoicing. Regardless whether their customers are consumers, businesses or public bodies.
This is also reflected in that ‘PDF by e-mail’-e-invoicing is supported by 99% of the mainstream accounting/bookkeeping solutions (sometimes as part of an ERP system).
However, a PDF invoice is only cost efficient to the sender -the supplier-; mainly in terms of envelope, print and postage savings. On the other hand, the recipient of a PDF invoice – the customer or its accountant- still has to perform manual processing. And this is where UBL e-invoicing is most beneficial.
Suppose, your organisation decides to send its 100.000 monthly e-invoices in both UBL and PDF format. 50% of your customers can immediately process UBL invoices in their bookkeeping software. This easily saves your customer 4 minutes of work per invoice.
This way, you as a supplier create a cost saving of 6 man-years for your customer base… just by ticking a box. This advantage reflects on you: your company is a partner to your customers.
UBL stands for Universal Business Language and in many countries, including the EU, it is believed to be the prime candidate for the next step in e-invoicing.
UBL is not the only standard in e-business. In fact, UBL is globally one of 80 standards used to exchange invoices, purchase orders and other business related documents.
There are six mean reasons why UBL is a stable, future proof successor of paper, OCR and PDF e-invoicing.
UBL Ready is a not for profit initiative to promote UBL e-invoicing by ‘approved’ accounting software, e-invoice service providers, conversion partners, public bodies, and so on. The primary goals of UBL Ready are (1) to support organisations to implement UBL e-invoicing and (2) to communicate their ‘UBL readiness’ to their customers and /or suppliers, using the ‘UBL Ready’ label.
UBL Ready wants to let free, flawless and easy exchange and processing of e-invoices become a reality.