E-invoicing and e-billing may have their benefits. However issuing paper bill penalties to force your customers into electronic invoicing and online billing is just a big fail. And if you persist you could potentially end up losing your mobile phone license. Even more serious: millions of households face financial problems because of scattered online bill platforms. And it becomes more and more clearly that companies do not use paper bill penalties just to make you switch to e-invoicing (B2B) of e-billing (B2C). In fact, the there are companies that keep charging for bills or monthly statements and bills without you being able to stop receiving them. Why? Because they earn extra money. A new cash cow is born! Hampering e-invoicing adoption.Read More
There probably is no such thing as coincidence. First, the European Commission published a report estimating €193 billion in VAT revenues (1.5% of GDP) were lost due to non-compliance or non-collection in 2011. Second, A.T. Kearney in association with Visa and Dr. Friedrich Schneider published there yearly report called "The Shadow Economy in Europe", which looks at the “legal business activities that are performed outside the reach of government authorities.”
Together both reports state that electronic invoicing could help governments to contain tax evasion and the shadow economy. Is that so?. let's take a thorough look at that.
Twelve years ago, 2001 marked the all-time peak in first-class mail volume. At the time, U.S. mail volume was greater than ever, but there was concern that the online revolution might reverse that trend quite soon. But Susan Brennan, te U.S. Postal spokeswoman at the time, however didn’t buy it. She gave a quote to Wired magazine back in 2001: “The Postal Service is, and always has been, one of the most high-tech companies in the world,” However, Wired Magazine wasn’t convinced. In the article Wired asked: "But what about e-mail? If people write fewer letters, won't that hurt the bottom line even more?" and Brennan said: "E-mail is not a threat." After this testament of denial, E-mail and online billing lead US Postal to an existential crisis.Read More
EDI (Electronic Data Interchange) is a document standard that is typically used in supply chain for exchanging purchase orders, order confirmations and invoices. Another field is logistics, for example third party logistics providers (3PL) and transportation.
Despite of this wide usage, quite often during last decade it has been predicted that EDI will die. To be more specific - EDIFACT will die and XML based EDI standard will take its place. What are the trends and expected changes in the EDI-world? Is EDI a fenix in disquise? Itella Information shares their experience and predictions.
More and more companies are forcing their customers towards online bills. Because your suppliers themselves can save so much by discarding paper invoices. And if you still wish to receive one, you now suddenly have to pay for it. Big time! As if you are the cause that a paper bill suddenly has become a pain in the proverbial bottoms and you have to pay for the inconvenience of having them send a paper bill to you. If this strikes you as a bit strange, you have to hold on to your seat. Because it doesn't stop at your suppliers forcing you to check in at dozens of different online portals and forcing you to pay a penalty for paper bills. You now even have to pay a penalty for online payment methods. OMG!Read More
A must read! This article in the MailOnline. Taking into account that in the US online presented bills most of the time still need to be paid, forcing up e-billing can have big negative effects for consumers, reasearch shows. The uptake of e-billing leads makes people to loose tracks of their payment liabilities. Or as one consumer put it: "I can't afford to pay for paper bills… but can't keep track without them.. And: "I find it much harder to keep track of my bills – and notice when bills increase – when it’s all done online. I don’t have time to log on all the time and check."
Even though the research was done for the 'Keep me posted' (a paper industry funded initiative), the findings don't stand alone and should be taken seriously: you wouldn't want to be held responsible for financial distress because of your e-billing ambitions. Do you? Well!?
Hail, hail ComReg! The Irish ComReg (Commission for Communications Regulation) quite probably is at the forefront of consumer protection when it comes to e-billing adoption. In this case communications provider EirCom began changing customers to e-billing. Even though EirCom notified the affected customers on three separate occasions, under ComReg rules EirCom should have given its customers the chance to reject or opt out of it.
ComReg stated that the implementation of the online billing represented a change to the customers’ contracts, and that EirCom had not complied with its statutory obligations by the Universal Service Regulations to notify customers of such modifications.
Tungsten Corporation has agreed the conditional takeover of OB10 for £99m in cash and shares. Tungsten also signed a five-year rolling licence agreement with @UK plc to deploy its analytic software technology to enable TungstenAnalytics to be delivered across -now- Tungsten's global e-invoicing network.
And Tungsten has another trick in its sleeve. It also decided to acquire an identified duly authorised UK bank, whose assets solely comprise short term UK gilts and/or certificates of deposit and to seek admission to trading on AIM.
In an international survey from Two Sides carried out by research company Toluna, 2,500 US consumers were asked their opinion on a variety of billing and statement related issues with a focus on the present supplier pressure to switch to electronic bills and statements.
At first glance, the key findings show a bleak image when it comes to the attitude of consumers towards e-billing adoption pressure and the 'going green argument'. However, with a little bit of spit and polish, we are able come up with slightly different findings. Statistics galore! Same data, different results....
The Turkish Ministry of Finance’s has put into practice a project that has been long-awaited by the e-commerce sector. As from 1 January 2015 Turkish Dotcoms (companies that do e-commerce) are to issue e-invoices to their customers instead of paper invoices, according to the penned notification of Turkish Minister of Finance Mehmet ?im?ek.
The central hub in this plan is the e-archive application of the Revenue Administration. Once it is brought into effect, internet sales will be made faster, more secure, and with minimum cost. Moreover, online shopping can now be observed more closely, and therefore the tax loss in this area would be prevented more efficiently.