(by Peter Jonson)

The largest U.S. firms with annual revenues of more than $500 million now start using electronic invoicing and payment systems.

Due to the recent research, 66 per cent of respondents use EIPP, its EDI or non-EDI form, 62 per cent used EIPP systems to pay suppliers, 35 per cent used EIPP technology to receive payments from customers. In spite of the fact that paper checks still hold 80 per cent of B2B transactions, analysts predict 50 per cent of all B2B payments to be electronic by 2010.

Research disclosed main benefits of using EIPP, which include reduced processing time and lower costs.