Case StudiesEurobits–Bankia Collaboration Eurobits–Bankia

Collaboration

In 2016, Bankia paid its suppliersin an average of 10.45 days,

which represents an improvementof 10.3% compared to 2015.

1. Implementation of the eFactura System in Bankia

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Bankia has implemented Eurobits Technologies’ electronic invoicing system, eFactura, in all its invoicing processes, both for invoice reception and for invoice issuance.

With this project Eurobits Technologies contributes to Bankia’s strategy for achieving three of its main goals in the invoicing area:

Bankia has amply achieved these goals thanks to having implemented Eurobits Technologies’ eFactura System. Based on an analysis performed for the El País newspaper using data from companies’ 2015 annual reports, Bankia is the Ibex-35 company with the second shortest payment period to suppliers.

In 2016, Bankia paid its suppliers in an average of 10.45 days, which represents an improvement of 10.3% compared to 2015. These figures contrast with the maximum period of 30 days stated in the bank’s commitment to its suppliers and the 60-day maximum imposed by law.

In 2016, Bankia paid a total of 675 million euros to its suppliers as a whole, compared to 747 million the year before.

Reduce the average number of days’ payables to its suppliers.

Reduce negative impacts on the environment by reducing paper use.

Digitise invoicing processes and reduce the associated operating costs, so as to be more efficient.

Eurobits–BankiaCollaboration

Case StudiesEurobits–Bankia Collaboration 2. By implementing the eFactura System Bankia

protects the environment.

3. Eurobits eFactura system.

More than 70% of allthe invoices Bankia receives

are electronic invoices.

Through the eFactura System, Bankia provides all its suppliers with an electronic invoicing system that allows them to submit their invoices simply by accessing a web portal, without having to acquire any licence or additional software. The eFactura System digitally stamps and certifies invoices at the time of issuance, adding a layer of trust and security to the invoicing process.

More than 70% of all the invoices Bankia receives are electronic invoices. Considering that invoice reception has an acceptance and management cost of 2.5 euros per invoice, the scope of the efficiency improvement obtained by Bankia through Eurobits Technologies’ eFactura System is evident.

Eurobits Technologies offers personalised integration solutions for any invoicing and ERP software on the market. Bankia’s suppliers can thus achieve better integration, so that they can automatically send their electronic invoices to Bankia from their own invoicing software.

Eurobits Technologies is a technology company with a strong specialisation in the financial sector. It was formed in 2003 with a view to facilitating the development of the digital economy through its advanced digital services.

One of these services is eFactura, Eurobits’ electronic invoicing system, which includes all the functionalities needed to manage the entire invoice issuance and acceptance process and its integration with means of payment and financing fully electronically. The eFactura System can be used to invoice government bodies through its FACe certified connector and also to immediately report all invoices to the Spanish Tax Agency, AEAT, through its connector with the Immediate Reporting System (“Sistema de Información Inmediata” or SII).

Bankia reduces the negative impact on the environment in three ways::

By reducing paper consumption

By reducing the energy consumption involved in printing on paper.

By reducing the harm to the environment arising from the economic and environmental costs of managing paper waste.

Eurobits–BankiaCollaboration

With its multiple interconnection methods, eFactura covers every possible electronic invoicing situation. Eurobits Technolo-gies offers personalised integration solutions for any invoicing and ERP software on the market. It also has a user-friendly web portal for users who do not have such tools or who prefer to access the system occasionally via the portal.

Case StudiesEurobits–Bankia Collaboration

Eurobits–BankiaCollaboration