Mexican e-invoicing displayed as best practice for Pan EU e-invoicing

More than 9,000 million (9 billion!) electronic invoices issued by different companies and entities in Mexico the past decade displays the success of the Mexican Einvoicing initiative. It represents a major step in the country's progress in its goal towards the development of e-government that provides greater efficiency, avoide the use of paper, to minimize fraud and to increase in public agility.
The successful implementation of electronic invoicing in Mexico has attracted much interest of the European Commission, as well as single EU Member States.

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Spanish companies saved at least € 458 million thanks to e-invoicing

March 3, 2014  |  Electronic Invoicing, Europe, Featured Articles, Publications, Research  |  Comments Off

The study "The Electronic Invoice in Spain 2012-2013" also confirms that 35% of all Spanish companies use e-invoicing. From 2012 to 2013 the absolute amount of companies grew from 120.000 to a total of 130.000. A growth of 10.2%, even while the number of firms in Spain has decreased by 1.84% during that period.

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Introducing our latest member: AMEXIPAC

February 26, 2014  |  Compliance, Electronic Invoicing, Featured Articles, Latin America, North America  |  Comments Off

AMEXIPAC is a non-profit organization that represents the leading e-Invoicing companies in Mexico. Our members are certified by Mexican Tax Authorities, (SAT) and as a group represent the majority of e-invoicing transactions issued in the country.
All AMEXIPAC members offer tax compliant e-Invoicing as well as value added services, such as sending and receiving solutions for different market verticals and segments, oriented towards improving customers´ business efficiency. AMEXIPAC brings together highly qualified legal and technical experts in order to meet the stringent requirements for e-invoicing in Mexico.
The implementation of these requirements by all members of AMEXIPAC have been set as a benchmark for e-Invoicing best practices in Mexico and Latin America.

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Hackers uses e-billing system connection to steal credit card data from 110 mln customers

February 11, 2014  |  Compliance, Electronic Invoicing, Featured Articles, Payment  |  Comments Off

Late 2013 Target (a massive US retailer) revealed it had been targeted by a team of unknown hackers, who managed to gain access to the personal info (and credit card numbers) of a whopping 110 million customers. It was, as onlookers noted at the time, a "disaster," and the impetus for at least one lawsuit.
Today comes news that the breach may have originated with Fazio Mechanical Services, a small heating and refrigeration contractor based in Pittsburgh.

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Over 20 Leading U.S. Companies Remove their “Go green, Go Paperless” Claims

January 22, 2014  |  Electronic Invoicing, Featured Articles, Research  |  Comments Off

Over 20 leading U.S. companies have removed their "anti-paper" green claims, used to promote electronic billing and other e-services as a more environmentally-friendly solution than paper. These companies are primarily top Fortune 500 organizations in the banking, utilities and telecommunications sectors.
The removals follows on an educational campaign by Two Sides U.S. to correct greenwashing related to print and paper products.

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Europe extends SEPA transition with 6 months to ultimately August 2014

January 10, 2014  |  Europe, Featured Articles, Payment  |  Comments Off

The European Commission considers this measure necessary in order to reduce the likelihood of both domestic and cross border payment disruptions.
Technically, the current deadline of February 1 remains in effect, but the European decision enables an ultimate additional transition period of six months during which domestic payments without IBAN number can still be made, in other words: payments that not yet meet the new European standard.

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Breaking: Tungsten/OB10 receives USD 200mln funding for -UK- supply chain finance

Breaking: Tungsten/OB10 receives USD 200mln funding for -UK- supply chain finance

January 8, 2014  |  Electronic Invoicing, Featured Articles, Supply Chain Finance  |  Comments Off

Today Tungsten (the organisation that acquired OB10 last year September) announced that Blackstone Tactical Opportunities has agreed a $200mln funding deal that will allow Tungsten to provide customers supply chain finance. Tungsten, valued at $225mln before this deal was made public, is aiming to acquire the UK arm of the First International Bank of Israel to create an invoice discounting business.
The deal shows that OB10, now a Tungsten company, is looking what lies well beyond e-invoicing: supply chain finance.

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Descartes acquires Compudata, a Swiss B2B supply chain integration and e-invoicing provider for USD 17.9mln

December 23, 2013  |  Electronic Invoicing, Europe, Featured Articles, Merger, Acquisition, Funding  |  Comments Off

After InterCommIT, Infodis and KSD it is now time for Compudata to be acquired by Descartes. Compudata is one of the bigger providers of B2B supply chain integration and e-invoicing solutions in Switzerland.
The all cash purchase price for the acquisition was CHF 16.0 million (approximately USD $17.9 million at December 20, 2013). Descartes funded the purchase price for this acquisition by drawing on its existing acquisition line of credit.

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Introducing: the Ocean Freight Industry E-invoicing Standards Advisory Board

December 13, 2013  |  Cooperation, Electronic Invoicing, Featured Articles  |  Comments Off

Established in 2010, the EIPP Standards Advisory Board (SAB) is a self-funded and governed organization, comprised of executives from many of the leading ocean carriers and freight forwarders. The SAB gathers regularly throughout the year to discuss, develop and decide on collaborative e-Invoicing message and process standards for the ocean freight industry. At its latest meeting the SAB focused on some interesting upcoming interoperability best practices.

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Portugal mandates use of certified electronic invoicing software

December 5, 2013  |  Compliance, Electronic Invoicing, Europe, Featured Articles, Government, Legal  |  Comments Off

On November 22, 2013, the Portugese Ministry of Finance published Ordinance Nº 340/2013. The ordinance includes modifications to the certification process for electronic billing software and solutions.
As of now all e-invoicing software must be audited and certified by the Portugese Tax Authority: the Direcção Geral de Contribuições e Impostos (the DGCI). That said, all proprietary software will no longer be considered valid without proper certification. Even if it follows the XML file construction criteria with inclusion of the mandatory fields proposed by the tax authorities!

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