E-invoicing (electronic invoicing) is gaining increasing importance in almost all sectors, and the banking sector is no exception. As a digitized and automated alternative to traditional paper invoices, e-invoicing offers numerous advantages that are crucial, especially in the dynamic and highly regulated financial world. Banks, which must compete in an increasingly fierce market, benefit from e-invoicing in several ways: increased efficiency, cost reduction, and compliance with international standards and legal requirements.
Furthermore, digitalization is also driving the need to optimize processes and expand customer-oriented services in the banking sector. E-invoicing is becoming a key element in accelerating administrative processes, minimizing errors, and simultaneously supporting the industry’s sustainability goals. It offers a standardized and transparent foundation, particularly in international business and when connecting to global supply chains.
In this article, we highlight the growing importance of e-invoicing in the banking sector, clarify the relevant legal framework and show how implementation can be efficiently designed using SAP Document and Reporting Compliance (DRC).
What does e-invoicing mean in the banking sector?
An e-invoice is an invoice in a machine-readable, structured data format that allows for digital and automated invoicing processes. For banks, this means that the previous invoice processing – often characterized by manual processes and paper documents – is replaced by real-time electronic processing.
In the banking sector, compliance and regulatory requirements play a central role alongside efficiency. Specific requirements for invoice transmission, data retention, and auditability must be met at all times. Many banks rely on structured XML-based formats such as XRechnung or hybrid standards like ZUGFeRD for this purpose.
What are the legal requirements?
Under the German Growth Opportunities Act, banks, as B2B companies, must be able to receive and process e-invoices from January 1, 2025. The most important requirements are:
- From 2025: Obligation to accept e-invoices in accordance with EN 16931 (e.g. XRechnung or ZUGFeRD).
- Transitional periods (2025–2027): Paper or PDF invoices are still permitted – but only with the recipient’s consent. Companies with an annual turnover exceeding €800,000 must use standard e-invoices exclusively from 2027 onwards.
- From 2028 onwards: E-invoicing will be mandatory without exceptions!
What challenges does the implementation of e-invoicing present in the banking sector?
The switch to e-invoicing presents banks with specific challenges:
Complex system landscapes
Banks typically operate highly customized ERP and core banking systems. Integrating e-invoicing formats like XRechnung requires adjustments and testing.
Compliance requirements
Regulatory requirements for invoice processing and data archiving must be strictly adhered to. Complete traceability and auditability are essential.
Process integration
E-invoices must be seamlessly integrated into existing workflows and approval processes to ensure a continuous invoice flow.
Employee training
New systems and processes require training for employees to successfully manage the transition to e-invoicing.
What are the advantages of e-invoicing in the banking sector?
The introduction of e-invoicing brings numerous strategic and operational advantages to banks:
Efficiency improvement
Automated, real-time invoice processing reduces manual steps, transmission errors, and delays. Payment processes and account reconciliations are accelerated, allowing for better utilization of early payment discounts.
Regulatory Security
Banks are subject to strict compliance regulations. E-invoicing enables compliant invoice processing in accordance with the requirements of the Federal Ministry of Finance (BMF) and the EU standard EN 16931.
Faster payment processing
Automated workflows significantly speed up invoice verification and approval, which contributes to optimizing liquidity management.
sustainability
Digitizing invoicing processes reduces paper consumption and supports the bank’s sustainability goals.
Cost reduction
Eliminating printing, postage and archiving costs for paper invoices saves considerable resources.
SAP DRC as a solution
With SAP Document and Reporting Compliance (DRC), SAP offers a comprehensive solution for efficiently meeting the legal requirements of e-invoicing. Seamless integration into existing SAP systems provides direct support for common formats such as XRechnung and ZUGFeRD. Automated processes significantly minimize manual effort by automatically capturing, verifying, converting, and sending invoices.
SAP DRC ensures not only high efficiency but also reliable compliance with legal requirements in Germany and internationally – an essential prerequisite for banks with global business relationships. An integrated dashboard also provides an up-to-date overview of the processing status of all invoices at any time. Adherence to the “Keep the Core Clean” strategy through the use of a standard SAP solution like SAP DRC reduces the need for external interfaces and thus minimizes the risk of errors.
Future-proof invoicing processes in the banking sector with adesso business consulting and SAP
The introduction of e-invoicing and the SAP DRC solution enables banks not only to comply with legal requirements but also to benefit from optimized processes, significant cost savings, and increased sustainability. Implementing the SAP DRC solution requires both a deep understanding of the specific requirements of banks and their IT landscape, as well as precise implementation by experienced experts.
We support you with tailored expertise – from strategic planning and technical implementation to training for your employees. Together, we create efficient, future-proof processes that sustainably strengthen your business. Contact us and let’s drive the digitalization of your invoicing processes together.
