In a move aimed at strengthen its position in the fast-growing
European electronic invoicing (e-invoicing) market, ING Group’s ING
Wholesale Banking unit has increased its stake in Dutch-based
electronic invoicing specialist Anachron to 30 percent for an
Anachron’s online e-invoicing service spans 25 European
Comments by Robert Heisterborg, ING Wholesale Banking’s global head
of payments and cash management, underscore ING’s optimism on
growth prospects in the E-invoicing market.
“Digital billing and payments are the future,” Heisterborg said.
“Within the next five years we expect the majority of European
companies to use electronic invoicing resulting in cost savings,
higher efficiency and faster payments.”
Indicative of the growth being achieved in the market, Billentis,
an independent European e-invoicing consultancy reports that in
2008, roughly 1 million European businesses and 23 million
consumers exchanged one billion electronic invoices.
Billentis predicts that, every day in 2009, 1,200 businesses and
11,000 consumers will become new e-invoicing users.
The deal with Anachron follows ING’s buy-out in late-2008 of the 50
percent stake in a joint venture e-invoicing company Billington
held by its partner Getronics. Acquisition of Getronics by Dutch
technology and telecommunications company KPN provided the
opportunity for the acquisition, ING noted at the time of the
Billington’s activities, which now form part of ING Wholesale
Banking, include Digital Note, a business-to-consumer solution, and
INGIS, a business-to-business e-invoicing platform. The Ingis
platform is a joint product of ING and Anachron, and was especially
developed for small and medium-sized companies.