B2B Internet Billing will triple by 2002 says Gartner
According to a research by Gartner Group, Inc. the number of US companies sending out business invoices over the Web will nearly triple by the end of 2002 to 26 percent, up from today’s 9 percent. By the end of 2004, this number is projected to rise to 35 percent. Business to business electronic invoicing and payments (EIP) will dramatically reduce the current 41-day average time to collect payments, allowing companies to reduce debt and invest cash more quickly.
“Three times more companies sell products or services over the Internet than invoice customers using Internet channels, said Avivah Litan, research director at Gartner.” “The primary challenges will be convincing buyers to give up their checks in order to take advantage of Internet payment benefits.”
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