Further to my previous post, I believe I cracked the conundrum attached to e-invoicing today! Now, do not get too excited, as I have not decided whether I am going to do anything about it. Most likely, I will park it for the time being. But let’s explore what the problem is in the first place.
What is the biggest problem faced by the e-invoicing (EIPP) market?
I argue that at the very top is the lack of market penetration. Paper documents continue to rule. Some of these are now replaced by e-mail attachments, but this does not solve the fundamental problem of duplication of effort. I do not believe OB10 will be able to crack this market as they think they will, whilst remaining independent. I am not holding much faith on JP Morgan Chase Xign and Amex Harbour Payments as the entities to conquer the world. I strongly believe that a new startup with deep brain storming can crack this market easily. So, who will this be?
I believe I found the answer. It’s a company that is not currently involved in the market place. It’s a company that probably do not even understand what I am talking about let alone what e-invoicing truly means. But they have the potential to revolutionise (not evolutionise) the market and become the dominant player within three years of starting. They alone can make e-invoicing truly happen. And it took me well over 3 years to realise this. And the answer was right in front of my eyes all this time. Man, have I been stupid! edocr actually helped me put the puzzle pieces together. I was on M56 when this realisation kicked in. It was exhilarating…and the speedometer certainly showed my joy – 3 digits!
I already worked out the business plan – real fag packet stuff (never smoked and never will be). The revenue model + product road map + distribution/channels strategy + the lot . Strangely, no real marketing effort will be required. Very simple. Too good to be true! That’s why it is so convincing, and therefore do-able
Now the question is what am I going to do with this knowledge! I have not got a clue…I suppose I could always talk to them. Perhaps…Do I want to? Let me think about this over next few days and weeks…It’s no point waking a sleeping giant without a clear strategy of education, don’t you agree.