Archive for Featured Articles

Will the 'Spanish Approach' be the next step in E-invoicing Compliance in Europe?

Will the ‘Spanish Approach’ be the next step in E-invoicing Compliance in Europe?

SII will enter into force the 1st of July 2017, and will require that companies concerned submit their information electronically to the Spanish Tax Authorities regarding all customer and supplier invoices within 4 days of each invoice’s issuing date or book keeping date. During the first 6 months, companies will have 4 more days (8 days in total) to submit the invoice information, to allow for a smooth transition of current processes to the new routines.

A total of 62,000 companies are estimated to be concerned, representing 80% of the nation’s invoicing volume are affected by this new move, resembling Latin American compliance approaches.

Read More

Finnish/Nordics attempt to revive ISO20022 after turned down as EU syntax

The objective is to deliver proof of concept in December 2016 and to allow companies to report VAT information faster and facilitate real-time reporting.

Read More

Break: only UBL and CII remain as mandatory EU B2G e-invoicing syntaxes!

At a recent plenary meeting in Barcelona, CEN/TC 434 unanimously agreed to endorse UBL and CII as the syntaxes complying with the forthcoming EN and to be listed in a specific CEN Technical Specification (TS).
Once the EN and TS are published by CEN and referenced in the Official Journal of the European Union (OJEU), contracting authorities and entities in the EU will have to receive and process electronic invoices which comply with the EN and any of the two syntaxes, in accordance with the provisions of Article 7 of Directive 2014/55/EU.

Read More
The EESPA annual survey results are in: >1 billion B2B, B2G and B2C e-invoices processed!

The EESPA annual survey results are in: >1 billion B2B, B2G and B2C e-invoices processed!

European e-invoicing service providers report a significant growth of 27% and over 1 ¼ billion processed e-invoices in 2015.
1 252 million electronic invoices were processed and delivered in 2015 by members of the European E-Invoicing Service Providers Association (EESPA), based on a set of survey results completed in July 2016. This represented a significant growth of 27 per cent over 2014 volumes of 985 million.

Read More

VAT Gap: Nearly EUR 160 billion lost in uncollected revenues in the EU in 2014

September 6, 2016  |  Compliance, Europe, Featured Articles

A staggering €159.5 billion in Value Added Tax (VAT) revenues were lost across the EU in 2014 according to figures released by the European Commission today. Compared to 2013, the 2014 VAT GAP has decreased by €2.5 billion but individual performances of Member States still vary enormously when it comes to VAT compliance. Some 18 Member States showed an improvement in their figures, while eight Member States failed to collect more VAT revenues than the year before.

Read More
New approach: efficient invoice processing as an intangible asset

New approach: efficient invoice processing as an intangible asset

In this article on CFO.com William Heitman explains that in the last 40 years, tangible assets have declined to 15% of business value, while intangible assets now generate 85% of value. This means that most intangible assets (and there value) are no longer comprised of trademarks and patents, but rather of "tasks", "processes" and "competences".

When we relate invoice processing to intangible assets, it is clear to see that e-invoicing and AP automation increases the value of this as an intangible asset dramatically. An interesting new approach to the value of e-invoicing, interoperability and AP automation.

Read More

Spoof Adele: “Should I give up or should I keep chasing payments”

July 18, 2016  |  Featured Articles, Payment

This video highlights the struggles of UK Small business owners over unpaid invoices. Figures show that 60 per cent of invoices are not paid to small businesses on time and 5.4 million small businesses in the UK spend an hour a day chasing them up.

Read More

EESPA + OpenPEPPOL Position Paper: reduce the amount of syntaxes

EESPA and OpenPEPPOL are very concerned by the provision in the Directive 2014/55/EU that all 300.000+ EU public sector contracting authorities will need to be able to receive electronic invoices expressed in any of a list of up to four syntaxes to be recommended by CEN TC 434 for a European core invoice standard. They propose 2 syntaxes.

Read More

The State of E-invoicing – 2016 Trend Report [Sponsoring opportunity]

E-invoicing is on the rise. The next 5 to 10 years, millions of companies and organisations will be looking for applications, providers, products and services. They start (and validate) their decision making processes by researching information. And in today's world, the most effective and efficient way of information gathering is by using online and social media resources.

Starting from 2004 numerous daily search queries on e-invoicing, by representatives of these millions of companies and organisations all over the world, have created a massive ‘e-invoicing data set’. Using this data set, this report answers questions like: ‘What are the best en worst performing queries on e-invoicing?’, ‘Which topics are rising faster than others compared to a year, two years or five years ago’, ‘What are the trending topics in Europe, North America, Latin America and in Asia?’, ‘Which providers can be ranked among the stars in their domain?’, ‘Did trends mentioned by experts really take off?’, and so on.

We invite you to become part of this exciting report with unprecedented insights and audience. More details and the sponsoring opportunities about 'The State of E-invoicing - 2016 Trend Report' can be found in this document, as well as online here.

Read More

Electric Ireland: discounts of up to €114 to EXISTING customers that accept e-billing

Energy experts said the offer to existing customers represents a new departure for an energy company. In fact is a novelty for almost every company in the EU, not just in Ireland or for an energy company!

Read More