National Laws indicating that digital would become legal proof was passed as early as 2004
Digital cannot be synonymous to Wild West. It may have been partially but as this sector grows its role in the economy and in the relationships between citizens, traditional values of freedom, trust and property must apply. Digital is merging into common law and must provide a similar trust level as a physical transaction.
Government has usually started by digitalising tax returns whilst adding some benefits to incentivise people and companies to adopt the system. In France there is today no option anymore and digital is an obligation. A company, whatever its size, must do VAT returns by digital, which says that a company’s accounting system is now digital in almost all companies.
Logically companies looking for process improvements are now digitising and rationalising document systems that link directly to accounting. There is a big market currently for invoice automation, whether incoming or outgoing. Mentalities progress and market follows. The European market place for that kind of back office automation is valued at approximately 20 Bill. € and is one of the most dynamic segments of the Software market.
This article was written on 21 Sep 2017, and is filled under Point of View.