Project description
A unified e-invoicing management system
Billions of invoices, mainly in the form of pdf documents, are sent and received across EU borders each year. Every Member State has a unique approach to dealing with electronic invoicing. Despite a strong push by the EU to establish a unified e-invoicing platform, which will be a big boost for business and the EU Digital Single Economy, there is still a long way to go. The EU-funded project UUR aims to harmonise e-invoicing management at the European scale. It is developing the first digital-native approach. It’s Universal Unique Reference (UUR) can be integrated into all existing invoice management solutions. Backed by the French fintech company Libeo, the project will conduct a feasibility study to validate its technological ability.
Objective
In the last 20 years, the digital revolution has transformed the way we do business. The raise of fintech solutions and the globalisation of the economy have led to the introduction of new secured international standards, such as IBAN numbers. Yet, the digitalisation of invoices is still very limited, despite a strong incentive from EU governments to democratise electronic invoicing (e-invoicing). With legal variations from country to country, and no specific legal definition for e-invoice standards, many individual formats have been developed. As a consequence, existing solutions exhibit limited compatibilities towards each other, and most of e-invoicing management eventually boils down to exporting pdf documents.
Libeo, a fintech company specialised in e-invoice management, is bringing forward the first digital-native approach to e-invoicing: Universal Unique Reference (UUR). Highly compatible, UUR is designed to integrate in all existing invoice management solutions, offering prospects for the harmonisation of e-invoicing management at the European scale.
It is estimated that 8bn invoices will be produced in Europe in 2019. With UUR, Libeo ambitions to tackle the global e-invoicing market, valued at €4bn and growing at a 20% rate. By making e-invoicing accessible, we will allow businesses to save time and reduce human errors, as well as facilitating the detection of invoice fraud, a practice that leads to over €150bn loss per year.
This feasibility study will enable us to validate our technological ability to tackle the European e-invoicing challenge, as well as consolidating our business model in regards to the monetisation of our solution.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- social sciences political sciences political transitions revolutions
- social sciences economics and business business and management business models
- engineering and technology electrical engineering, electronic engineering, information engineering electronic engineering digital electronics
- social sciences other social sciences development studies development theories global development studies globalization
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.2.3. - INDUSTRIAL LEADERSHIP - Innovation In SMEs
MAIN PROGRAMME
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H2020-EU.3. - PRIORITY 'Societal challenges
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H2020-EU.2.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
SME-1 - SME instrument phase 1
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-EIC-SMEInst-2018-2020
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
94306 VINCENNES
France
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.