Mandatory electronic invoicing for all VAT invoices will become law in the UK in 2029. The new regulation is expected to help businesses receive payments faster and save on operational costs. However, current adoption rates of e-invoicing remain low, with more than half of UK invoices still processed manually.
Government data indicates that switching to e-invoicing can reduce late payments by 20%, provide annual savings of £11,300 for small firms, and increase productivity by 3%. Even partial implementation can improve cash flow and customer relationships. A government roadmap outlining further details is expected in 2026.
Tieto, a Nordic technology company, offers its Multichannel platform to support UK businesses transitioning to digital invoicing. The platform has already been widely adopted in Nordic countries, where over 80% of invoices are handled digitally.
“Companies can no longer afford inefficiency,” said Steve Tait, Sales Manager at Tieto Indtech. “Multichannel helps businesses speed up payments, reduce operational costs and strengthen customer loyalty, all while futureproofing their communication strategy.”
The Multichannel platform centralizes communications, automates document management, and integrates payment options into one system. This allows for quicker payments and reduced administrative expenses.
Key benefits highlighted include lower costs through a single partner for all communication channels; faster payments via integrated payment options; higher efficiency from automation; and improved customer experience by allowing customers to choose their preferred communication channel.
Tieto operates globally with about 15,000 employees specializing in software development, design, cloud computing, and artificial intelligence. The company’s shares are listed on stock exchanges in Helsinki, Stockholm, and Oslo.
For more information about Tieto’s solutions or the upcoming e-invoicing mandate, interested parties can contact Tieto Communications at +358 40 570 4072 or news@tietoevry.com.
