This year, The RegTech will participate in the E-Invoicing Exchange Summit in Prague from September 23-25, 2024. This global gathering of industry leaders in e-invoicing, regulatory technology, and digital transformation offers an important forum to discuss and shape the future of compliance solutions. As an entity that brings together consultants from across the globe, The RegTech has a unique position to contribute to these discussions, offering deep expertise in facilitating digital transformation while addressing complexities of regulatory environment.
Our presence at this summit underscores a continued commitment to pushing boundaries in regulatory technology, leveraging our global know-how to help businesses and governments adapt to the rapidly expanding e-invoicing market. This is more than an opportunity to showcase our services; it’s a moment to engage with industry thought leaders, regulatory authorities, and technology experts, enabling us to continue to lead in driving both innovation and compliance forward.
Aligning Global Expertise with Market Growth
Predictions say that the e-invoicing industry will grow remarkably over the next several years. With projections estimating that by the end of 2024, approximately 560 billion invoices will be processed globally, with 125 billion of those handled electronically. The market, currently valued at $8.9 billion, is forecast to reach $23.7 billion by 2028, driven largely by the increasing need for digital compliance solutions.
As tax authorities across the world introduce new electronic invoicing regulations—including Continuous Transaction Control (CTC) models—the pressure is mounting for businesses to stay compliant while maintaining efficient financial operations. A core focus of the E-Invoicing Exchange Summit is the evolving regulatory landscape, with key sessions addressing how different regions are adopting e-invoicing standards. As tax authorities turn to e-invoicing as a tool for reducing tax evasion, initiatives like Europe’s “VAT in the Digital Age” (ViDA) and Peppol’s expansion in Asia are moving businesses toward real-time transaction processing and more stringent audit practices.
The RegTech E-Invoicing: Exchanging Data Smoothly
The digital transformation of trade has close links to the concept of data interoperability. As businesses adopt electronic invoicing on a broader scale, the ability to exchange data smoothly across different systems becomes a crucial factor for success. Integrated Digital Trade (IDT), which aims to automate everything from invoice processing to tax reporting, presents an opportunity to organize these operations, but its adoption varies greatly across businesses.
Smaller companies often find themselves responding to regulatory pressures, while larger organizations take a proactive approach to automating their supply chains. Our consultants specialize in tailoring our services to meet these diverse needs, ensuring that all clients can maintain efficiency without sacrificing compliance. Attending workshops at the summit that focus on real-time business solutions and interoperability challenges will allow us to further explore how to improve these processes and make the flow of data across different platforms and systems more efficient.
Strengthening Government-Industry Collaboration
As governments increasingly adopt data-driven technologies, the importance of collaboration between public and private sectors grows. These tools are becoming central to the compliance landscape, providing businesses with the support they need to meet new standards while improving regulatory transparency and accountability.
The RegTech will use this summit to engage directly with government representatives and explore how to position these emerging technologies within our existing services portfolio. Sessions focused on public-private collaboration—such as “Factur-X via Peppol” and “Peppol/GENA B2B Interoperability Incubation”—offer insights into how governments and businesses can work together to make compliance processes more efficient. We will deepen our partnerships with government agencies and regulatory bodies to continually refine our positions and ensure our clients are always ready for the next wave of regulatory changes.
Also, Governments are monitoring the rise of technologies like Artificial Intelligence (AI) and blockchain. These technologies have introduced new opportunities for businesses to optimize their e-invoicing systems while meeting regulatory demands. AI has the potential to increase automation, reduce errors, and accelerate decision-making in the invoicing process, while blockchain adds a new layer of security and transparency to financial transactions.
