Driven by digital transformation technologies such as AI, automation, and cloud computing, modern organisations participating in global trading networks are discovering innovative methods of information exchange. These yield numerous advantages including cost reduction and novel collaboration opportunities. A digital trading network facilitates not only the exchange of business documents but also the sharing of data, intelligent workflows, faster and smarter decision-making, and real-time responses to market disruptions.

Industry 4.0 marks the fourth industrial revolution. Its components include Autonomous Robots, Simulation, Big Data, Augmented Reality, Additive Manufacturing, Cloud Computing, Cyber-security, Internet of Things, System Integration, and Simulation. This global transition is mirrored by a shift from procurement to e-Procurement. An e-Procurement system includes e-Invoicing (our current focus), e-Ordering, e-Tendering, eInforming, eAuctioning, e-Contract Management, e-Purchasing, Vendor Management, and Catalogue Management.

The growth of eInvoicing is primarily fueled by regulations and standards, such as PEPPOL, a global network now adopted by Australia. e-Invoicing is progressively becoming mandatory in every country worldwide. Consequently, many companies are adopting this technology to mitigate risks and to simultaneously, leverage the advantages of Industry 4.0 and digital trading networks.