Pennylane, Indy and Tiime lead France's e-invoicing connections

What the figures measure

The barometer counts connections to the Peppol network, cross-referenced with the SIRENE business register. It does not measure paying customers or the volume of invoices exchanged. A single company can also be connected through several platforms, so the totals overlap and should not be read as separate customer bases.

The next challenge: real usage

For the leading players, the task now is to turn a connection into regular use of their accounting and financial tools, from tracking incoming payments to managing cash flow. Being plugged into the network is only a first step: the platforms that keep businesses actively invoicing and managing their finances through their software are likely to benefit most as the French e-invoicing reform rolls out.

The ranking also shows how concentrated the early connections are among a handful of accounting and fintech specialists, several of which have raised significant funding in recent years to compete for small businesses and independent workers.