At the height of the dot-com boom, anyone attending the multitude of technology summits touting the next big "disruptive technology" would have heard the mantra that company procurement executives would make the switch from paper-based to electronic invoicing virtually overnight. Despite the hype, it didn't happen that way. Various estimates suggest that the annual cost savings from moving to e-invoicing could be more than 200 billion in Europe alone. Embarking on an ambitious cross-border e-invoicing initiative within the EU was only for those larger to mid-size companies that were prepared to navigate the legal and tax minefields. A hurdle for companies looking to embrace e-invoicing on an EU-wide basis is differing interpretations of rules pertaining to digital signatures, which are commonly used to authenticate electronic invoices. European companies have seized on Single Euro Payments Area (SEPA) as an opportunity to implement pan-European standards for e-invoicing alongside harmonized SEPA standards for credit transfers and direct debits.