EDICOM: Challenges of International E-invoicing

Globalization, the expansion of markets and legislative changes around the world means that companies are increasingly interconnected and require secure and reliable communications that allow them to engage in e-invoicing anywhere worldwide. This is compounded by the race to implement mandatory e-invoicing in almost all regions.

E-invoicing is a system which, among other measures, enhances fiscal control, boosts economic savings, cuts down on the use of paper and streamlines corporate in-house procedures. In Latin America it is already mandatory in most nations, both in the B2G and B2B areas. The United States is due to roll out a project in 2018, while in the European Union, e-invoicing with public administration is now compulsory in many countries. In 2017, two regions which so far had remained on the sidelines of this technology began to increase the volume of transactions: North America and Asia-Pacific. Check out the e-invoicing development stages in several countries worldwide in detail.

How to operate in e-invoicing projects in global terms?

It is precisely the wide range of governments and legislations that gives rise to several coexisting models and systems of e-invoicing implementation. This is where businesses come up against major challenges. An international e-invoicing project poses both technical and interconnectivity challenges.

In technical terms, we must take into account domestic legislation and the validation and certification requirements of the tax authorities. These include factors such as prior formalities to be carried out by companies, the variety of approved formats, tax controls implemented, electronic signature and safekeeping of documents.

As for interconnectivity, companies will require secure and reliable links with government agencies and other enterprises. There is also a plethora of ways to link up electronically, so an interoperable communications infrastructure is needed, with a service provider that can guarantee an efficient connection under stringent security controls.

A single supplier with a global platform

Despite the hurdles, businesses are aware of the need to have an automatic procedure for processing and managing a global e-invoicing project. To speed up these formalities and help companies handle an automatic and integrated e-billing system, it is necessary to engage a trustworthy global provider.

EDICOM provides e-invoicing services between companies around the world. From a single platform, you can link up with any company and exchange fiscal and business documents in compliance with national regulations.

EDICOM’s Global e-Invoicing Platform simplifies the e-invoicing issuance solutions and reception solutions processes for electronic invoices in multinational environments. This is the best solution for companies operating in different markets from centralized management systems, as they need to be able to process these documents according to the legislation currently in force in each country.

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