The majority of advisors have urged small and midsize enterprises (SMEs) in Spain to prepare for invoicing reform, according to the latest edition of Wolters Kluwer Tax & Accounting Spain’s Advisory Barometer report.

The 2025 study delves into digital advancements and regulatory shifts in the field. It remains a vital guide for Spain’s tax, accounting, and labour specialists.

The research shows 63% of advisors pressing SMEs to gear up for invoicing changes. Yet, 55% note that SMEs lack readiness for these legal updates.

The report covers new mandates on Computerised and Electronic Invoicing Systems. Economic confidence prevails, with 63.8% of firms seeing revenue growth last year.

Almost 59% anticipate sustained income increases in 2025. Half of the firms report yearly earnings between €150,000 ($177,000) and €500,000 ($590,000). 

Digital transformation is key, with 40% of advisors viewing it as a growth catalyst. Cloud technology and automation are gaining traction in professional practices, according to the latest report.

Invoicing systems (41.2%) and AI productivity tools (25.5%) top planned tech spending.  Regulatory shifts are boosting workloads, as reported by 80.2% of firms.

More than 71% are turning to software to handle these new requirements. Time-tracking systems are essential for 90% to meet new labour regulations.  Knowledge of invoicing rules is strong, with 82.8% of advisors well-informed.

Nearly 63% suggest invoicing software to their SME clients. The industry is evolving, with 57.4% of advisors prioritising consultancy roles.  Technological change poses the biggest hurdle for 62.4% of firms.

Shifting demands from younger clients worry 50.6% of advisors. The study highlights the sector’s strategic shift amid regulatory challenges.

Wolters Kluwer Tax & Accounting Europe South Region vice president & general manager Tomàs Font said: “The Advisory Barometer 2025 once again puts on the table the most immediate challenges for professional firms, starting with the regulatory changes in the area of invoicing, which will have a profound impact on companies and will require them to accelerate their digitalization.

“Almost two thirds of advisors are already actively advising their clients to anticipate these changes, which is evidence that the sector is accompanying companies in adapting to this important transformation of invoicing processes..

“Our hope is that the findings of this fourth edition of the Advisory Barometer will serve as a guide and enable professional firms to make informed decisions to successfully meet the challenges that lie ahead for this industry.”