Archive for Asia

Bank of China lowers SME credit threshold

Bank of China lowers SME credit threshold

Bank of China had provided loans to more than 8,000 SMEs through 500 supply chain finance projects. The amount of loans increased to nearly 1 trillion yuan ($160 billion) last year from 74 billion yuan in 2009.

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Tungsten gets the go ahead for e-invoicing in India

Tungsten Corporation has received nationwide approval in India to deliver services related e-invoices. Tungsten also helped effect a change in legislation, allowing all service-related invoices to become 'e' in India.

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Introducing FIT Solutions: creator of world’s new ‘e-Transformation’ concept

We are glad to welcome yet another participant from Turkey. It shows once again that Turkey is at the forefront of e-invoicing, e-ledger, e-signatures, e-archiving and e-ticketing.
According to data from Turkish Information Technologies Industrialists Association, the e-Invoice market in Turkey is approximately worth 300 million dollars and Turkey is expecting a rapid and significant growth of market through ‘e-Transformation’. FIT Solutions is taking an active role in this process with their added value services.

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Singapore is the Asia Pacific leader in e-invoicing; ApexPeak explains why

Singapore is the Asia Pacific leader in e-invoicing; ApexPeak explains why

February 6, 2015  |  Asia, Electronic Invoicing, Government

Singapore is one of the few nations in the Asia Pacific region to have mandated the practice of e-invoicing. Since May 2008, e-invoicing has been mandated by the government for their suppliers.

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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

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

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

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

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

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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