Tradeshift partners with Recruit Holdings, solidifies Japanese market presence

According to Akihiko Okamoto, president of Recruit Strategic Partners, both Tradeshift and Recruit Holdings understand that the way businesses interact is changing. This partnership will help even more Japanese businesses recognize their goals.

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Vietnam starts mandatory e-invoicing pilot with 200 enterprises

January 14, 2015  |  Asia, Electronic Invoicing, Government  |  Comments Off

The Vietnamese Ministry of Finance has announced a pilot scheme to allow 200 firms in Hanoi and Ho Chi Minh City to use electronic invoices late this year. According to the newspaper, the electronic bill will be provided with authentication code and unique identification number and a QR Code.

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30 percent of invoices in Hong Kong are paid late! What to do?

January 13, 2015  |  Asia, Credit Management, Payment  |  Comments Off

There is nothing quite as gratifying as receiving a cheque in the mail from a customer, or an SMS notification from the bank announcing the arrival of payment for services rendered. Late payments, on the other hand, can signal cash flow disaster for growing small businesses.

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We give the floor to our supply chain finance sponsor: ApexPeak

January 7, 2015  |  Asia, Electronic Invoicing, Featured Articles, Supply Chain Finance  |  Comments Off

ApexPeak is a new capital provider aimed to provide services to small and medium size enterprises directly and those transacting on electronic invoicing networks. Founded in 2012, the firm provides in excess of US$1.3 billion trade finance to businesses located in 160 countries worldwide
By offering a simple, fast, flexible and affordable service, ApexPeak removes the lengthy, manual and restrictive processes required by banks. As a result, their customers no longer need to worry about cash flow problems and can instead focus on growing their businesses.

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Beijng expands electronic invoicing pilot

December 8, 2014  |  Adoption, Asia, Electronic Invoicing, Government  |  Comments Off

The Beijing IRS revealed that the Beijing Council and the Municipal Commission of Commerce, Local Taxation Bureau, City of Industry jointly issued notice on "further promotion of electronic invoicing and some public matters" In this notice the current e-invoicing pilot areas will be expanded to a large-scale retail, telecommunications and finance, insurance and other fields.

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E-invoicing now also operational in Kazakhstan

December 2, 2014  |  Asia, Compliance, Electronic Invoicing  |  Comments Off

E-invoicing recently became operational in Kazakhstan (KZ). The relevant e-invoicing provisions of KZ Tax Code have been effective since 1 July 2014, and the e-invoicing legal framework has been completed with KZ Government’s decree on e-invoicing of 24 July 2014 (Decree). That is what Sergii Shcherbak wrote in this post on LinkedIN.

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EDICOM partners with TAXCOM to deliver its EDI ASP platform in Russia

November 17, 2014  |  Asia, Compliance, Electronic Invoicing  |  1 Comment

The partnership enables TAXCOM to distribute solutions EDICOM’s electronic data interchange solutions in service mode. The idea is direct integration of a client companies’ management systems with the ASP platform of EDICOM, without the need for costly investments in hardware and software.

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Indonesia introduces VAT steered e-invoicing system. Mandatory in July 2016

Indonesia introduces VAT steered e-invoicing system. Mandatory in July 2016

November 10, 2014  |  Asia, Compliance, Electronic Invoicing, Featured Articles, Government  |  Comments Off

Taxand Indonesia mentioned in a post that Indonesia has introduced a new VAT biased electronic invoicing system. This new system will be implemented in 3 stages. For the first phase, the Directorate General of Taxes (DGT) has identified 45 companies which will be required to issue electronic VAT invoices. These are mostly foreign investment companies, state-owned enterprises and publicly-listed companies.

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Turkey reports massive -environmental- savings due to e-invoicing

November 4, 2014  |  Adoption, Asia, Electronic Invoicing, Europe, Government  |  Comments Off

According to Finance Minister Mehmet ?im?ek, the Turkish electronic invoicing system has already saved 650 million Turkish Liras ($293 million) of extra costs and prevented 100,000 trees from being cut. The electronic invoicing system, which has been implemented in Turkey since 2010.

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SAP and Ariba Transform e-Procurement in Middle East

October 28, 2014  |  Adoption, Asia, E-procurement  |  Comments Off

As little as two years ago, procurement in the Middle East could be summed up in two words: administrative task. But a transformation is underway. Procurement is fast becoming a strategic capability that beyond costs savings and efficiencies, can deliver business innovation and outcomes. And with increasing frequency, companies across the region are turning to SAP and Ariba to drive it.

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