Internationalization is a big challenge for major companies, and among all the requirements they must face stands the international e-Invoicing issue. How can companies send electronic invoices around the globe? How can they control payments efficiently? And, most importantly, how can companies comply with the different mandatory e-Invoicing models developing in Latin America in Europe? These are some of the questions that will be answered in this new “International e-Invoicing” series by EDICOM.
For companies working on an international scale, technology has become their best ally. Communication becomes easier, regardless of the distance, and file interchange is also achievable thanks to Electronic Document Interchange (EDI). This is especially significant for a very common file, frequently used in almost every kind of company: invoices.
Thanks to technology, conventional paper-based invoices can be swapped for international electronic invoices. Digital billing allows invoices to automatically flow from sender to receiver around the globe, saving time, space and money and contributing too to the instauration of an environmentally friendly working environment. This doesn’t only help the company’s efficiency, but also provides it with a greater control over payments.
Even if you are not seduced by these advantages, it may come to a point where e-Invoicing will not be just an option, but an obligation. This is because in many countries around the world, this system is expanding as mandatory. In these regions, elements like electronic signatures or authorization codes must be included in the files, to guarantee their authenticity and integrity and allow a further use for tax control.
Different e-Invoicing models around the world
Electronic invoicing is not spreading across countries as a uniform model. Digital invoicing as a mandatory system is especially relevant in Latin America and Europe. In these regions, each country is setting out its own technical and legal requirements for issuing electronic invoices, which may be troublesome for companies with an international presence.
In European countries such as Italy, Spain, Portugal or France, electronic invoicing has taken its first steps into a mandatory model that affects the B2G sector, that is, the economic relationship between the Administration and its suppliers. Only in this continent, businesses processed over 840 million e-invoices in 2013.
In Latin America countries, on the other hand, the e-Invoicing system has expanded itself as mandatory within the private sector. In Mexico, for example, digital billing is compulsory for 100 % of invoices issued as of 2011 for most taxpayers.
EDICOM’s International e-Invoicing Platform
When present in different countries where e-Invoicing is mandatory, companies need a technological solution ready to meet the demands of a continuously changing international landscape. This is why EDICOM has an International e-Invoicing Platform, a global electronic invoicing solution designed to serve multinational companies.
EDICOM is ready, through a single platform, to create, send or receive invoices for any country in the world in the format required. The platform is integrated in the client’s ERP or management system, and runs automatically and in total security. This service is moreover always up to date, thanks to the background work of a Permanent e-Invoicing Observatory, where the digital billing system and its worldwide changes are studied. This way, companies can face the internationalization challenge with an extra help.