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Do You Know About Global e-Invoicing?

05/02/2015

Business to Government (B2G) and Business to Business (B2B) electronic e-Invoicing models are breaking out around the world as a result of a raft of government initiatives with one factor in common - their mandatory nature-.

The reason behind international e-invoicing is that it provides an ideal framework for modernization and optimization of B2B and B2G relations, while providing governments with the perfect tool for tax control of business transactions taking place in their respective countries.

Monitoring business transactions for tax purposes is the main issue that prompts Latin American governments to roll out e-invoicing models, as the region with the highest level of e-invoicing penetration. Thus, we find pioneering countries implementing e-billing solutions over the past 10 years, such as Mexico, Chile, or Brazil, alongside many others still involved in the gradual and compulsory process of e-invoicing rollout, such as Chile, Peru, Uruguay… etc.

The complexity of the legal and technical requirements is also a common denominator of e-invoicing in the Latin American scenario, which makes the guidance of a technological partner specialized in development of worldwide e-invoicing solutions highly recommendable. Moreover, in certain models, such as those implemented in Mexico or Guatemala, e-Invoicing government-mandated electronic invoice reporting must be carried out through an Authorized Provider with the proper certification in place

Europe is also making great progress on e-invoicing deployment, being the European Union's main aim to harmonize a cross-border standard between businesses. However, lately it is in the B2G area where much of that effort by many member states has been focused, with the introduction of compulsory e-invoicing schemas for vendors invoicing public institutions. . Countries like Spain, Italy, Portugal and Slovenia already require mandatory e-invoicing with the public administration, and others such as France or Switzerland are set to do so in the years to come.

In light of the above, it is clear today that companies need to implement a global e-invoicing solution able to operate in any country worldwide. So, the next question should be:

 

Is your company ready for the challenge?

We are. Find out the advantages of a Global e-Invoicing solution on our new website, or reach out our sales consultants

www.edicomgroup.com/us

Would you like to find out more?


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