Posts Tagged ‘XML’
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Last week, Adobe presented its intelligent PDF eInvoicing solution in a white paper. Adobe proposes an end-to-end approach in which the e-invoice is interpretable by both humans and computer systems. The Adobe approach is based on the eInvoicing processes as described by the CEN/ISSS Workshop on Compliance of e-Invoices and is expected to be compliant with EU and respective national VAT regulations.
The importance of the CEN/ISSS Workshop deliverables
The Adobe whitepaper shows once again the importance of the deliverables of the CEN/ISSS Workshop deliverables. At this point the Workshop is in its second phase, having delivered at least one groundbreaking deliverable: the Draft Good Practice Guidelines. These guidelines are available here, here and soon on www.cenfiscalesguidelines.com Some groups with other interests on e-invoicing do not quite agree with these Guidelines. But we arguably can not ignore the fact that this is a serious attempt to remove one of the major barriers on e-invoicing: uncertainty on e-invoicing.
Intelligent PDF: removing barriers?
The intelligent PDF approach presented by Adobe could also serve as a mean to remove a barrier to e-invoicing: adoption in a B2B environment.
E-invoicing is acknowledged to be an unstoppable innovation across and outside Europe. Taking a leap in the future, full scale e-invoicing would mean that the vast majority of organisation is not only sending e-invoices, but also –and this very important– receiving e-invoicing.
One of the results from a major survey conducted by e-business watch showed that most of the companies prefer to receive e-invoices per e-mail in PDF. This is not the answer that some of the BSP would like to hear. But it clearly shows that receivers are in need of control over the inbound e-invoice.
The intelligent PDF approach of Adobe does just that. It combines the humanly interpretable PDF with a for computer systems readable XML format. So now we can receive and read the PDF invoice and having established the perception of control over the e-invoice, we can now extract and import the XML data into our financial software.
This enables e-invoicing between business partners regardless of size, sector, business processes and accounting software. If in fact the intelligent PDF approach guarantees compliance with the respective national VAT legislation, it would also be usable in cross border e-invoicing.
Intelligence in authenticity and integrity?
Interestingly enough, the Adobe intelligent PDF whitepaper mentions the possibility to sign the PDF document. So the PDF document is the format that is being used for formal validation. The invoice’s XML data can be submitted for material validation against external documentation such as supplier contracts. E-invoices archived in PDF/A guarantee the fidelity of the invoice, while the use of XML ensures that invoice data can be transformed to any format required by auditing software.
Maybe it is also interesting to use the XML data for formal validation. This would implicate that not only the PDF document is signed, but also the XML file, for instance with XADES or XMLDSIG. Then, the XML feed can also be used for formal validation even when archived. Additionally it would be very interesting for SME’s to use the PDF document for material validation.
So, the Adobe intelligent PDF is more intelligent compared to the plain old PDF docyument. We can expect it to have an impact on removing the barrier of awareness, including the aspect of adoption by have the perception of being in control. And maybe the approach can be made even more intelligent by incorporating XML signing. This would be very interesting because then it would not matter which document is being used for formal validation: PDF or XML, or both. Creating ease of use (which will be explained in the next Featured Article).
Read the Adobe white paper here:
The first set of UBL 2.0 data dictionary translations is now out for public review. The first set of UBL 2.0 data dictionary can be downloaded from http://docs.oasis-open.org/ubl/idd/UBL-2.0-idd.zip.
Created by OASIS UBL localization subcommittees (LSCs) to aid in global UBL deployment, this package provides translations of the 1900+ standard UBL business term definitions into Japanese, Italian, and Spanish.
The International Data Dictionary (IDD) provides speakers of those languages with a key to the meanings of the standardized XML tags used in UBL 2.0 business documents. The translations are provided as ODF and Excel files using the same spreadsheet format as the data models in the OASIS UBL 2.0 Standard, as recently updated: http://docs.oasis-open.org/ubl/os-UBL-2.0-update/mod/.
Subsequent releases of the IDD will include corrections based on input from the international user community and translations into other languages as they become available. Persons wishing to start a UBL localization subcommittee should contact the IDD editor and chair of the UBL TC, Jon Bosak (bosak@ibiblio.org).
Further information:
OASIS Universal Business Language (UBL) TC
Download
Index of /ubl/os-UBL-2.0-update/mod/
Source: www.epractice.eu
The following publication explains a way of using Intelligent PDF to support compliante Invoicing solutions. Adobe has worked together with CEN to create a white paper in which a relatively new type PDF solution is worked out.
The PDF is an intelligent message. The PDF document offers not only an optical readable invoice, but also billing data extracted in XML. Besides this, even charging can be audited.
Read the entire article here:
Kofax plc (LSE: KFX), the leading provider of Intelligent Capture & Exchange solutions, today announced that it has acquired the shares of OptiInvoice Digital Technology AB (“OptiInvoice”), a Scandinavian company that develops and markets electronic invoice and other document processing software.
Headquartered in Stockholm, Sweden, OptiInvoice provides software that allows electronic invoices and other documents to be digitally encrypted and transmitted or submitted via e-mail and other data streams in standard text, image and extensible markup language (XML) file formats. It then allows the recipient to accept and process those same files.
The software eliminates the need to print, mail, receive and process paper-based invoices and other documents, thereby significantly reducing otherwise manual labor processes and costs, improving the accuracy of the related data and accelerating processing times. This enables better accounts payable management to ensure that all application terms, conditions and discounts are fully utilized.
The majority of invoices and other documents continue to originate in a paper format but many companies and government agencies are gradually migrating to electronic formats to improve efficiency and lower costs. As a result, the adoption of electronic invoice and other document processing software is accelerating and users are in need of a capture solution capable of accommodating both paper and electronic formats.
The combination of the OptiInvoice software with existing Kofax Capture and Transformation Modules software addresses these market requirements. The OptiInvoice and Kofax software products have been successfully integrated, and the integrated solution will be released during the current calendar quarter.
“This acquisition is a natural extension of our intention to grow both organically as well as through the acquisition of synergistic software companies and products,” said Reynolds C. Bish, Chief Executive Officer at Kofax. “It also begins to level the competitive landscape in the invoice processing segment of the capture market, where we previously needed to partner with a third party to provide these capabilities while our most direct competitor could already offer a complete solution. This should enable us to accelerate our revenue growth in this important and rapidly-growing segment of the capture market.”
Kofax has paid 2.00 million Euros (£1.57 million) in cash upon the closing of the acquisition, a portion of which will be held in escrow for a period of time. Further conditional payments estimated to be in the range of 1.31 million Euros up to a maximum of 10.00 million Euros (£1.03 to £7.84 million) may be made during the ensuing 4 years subject to the achievement of certain performance criteria and the retention of certain employees. The acquisition is expected to be EBITA neutral in the current financial year and accretive thereafter. OptiInvoice broke even in the year ended December 31, 2007, and at December 31, 2007 reported gross assets of £205,479.
About Kofax plc
Kofax plc (LSE: KFX) is the leading provider of Intelligent Capture & Exchange solutions. For more than 20 years, Kofax has provided award-winning solutions that automate document-driven business processes by managing the transformation and exchange of business-critical information arising in paper, fax and electronic formats in a more accurate, timely and cost-effective manner. These solutions provide a verifiable return on investment to thousands of customers in financial services, manufacturing, retail, government, healthcare, business process outsourcing and other markets. Kofax delivers these solutions through its own sales and service organisations, and a global network of more than 1,200 authorised partners in more than 60 countries throughout the Americas, EMEA and Asia Pacific.
Source: http://www.kofax.com/
The migration of Microsoft’s treasury onto the XML-based ISO20022 messaging standard is likely to be a multi-year, ongoing initiative, according to a treasury manager at the software giant.
Microsoft’s treasury would like to migrate all of its financial messaging onto the XML-based standard, however the tardiness of banks and their own adoption of the standard for their treasury services, means that the project will be an “evolution” that will involve several phases, according to Ed Barrie, group manager, Treasury at Microsoft.
“The XML standard will give us more enriched data at a transactional level which we can put into specifically defined fields in our Enterprise Resource Planning systems,” says Barrie. “This will give us better STP and a single viewpoint for all of our payments information.
Microsoft’s treasury department handles global credit and collections, cash management and account opening and closing for the software giant covering 1100 bank accounts and 130 banking partners.
Microsoft is concentrating on its treasury statements primarily, before applying the ISO20022 standard to its payment flows. However the project’s success will be heavily dependant on the progress of its 130 banking partners.
“By next year we expect to have at least two banks converted and hope to have six or more,” says Barrie.
At least the ISO standard will not face unwelcome competition. According to Barrie, there will not be a rival standard to ISO20022. “It is the format that supports Sepa payments in Europe so that is driving adoption but it has mostly been on the bank to bank payments side. What we need to see is this adoption spread to the bank to customer side.”
Despite the slow progress, Barrie is confident that by next year’s Sibos event, there will have been some significant developments, helped by demonstrable evidence of the benefits of implementing ISO20022.
“We are now in the initial analysis stage but by next year we will see more tangible case studies that show a return on investment, the percentage of straight-through-processing and the level of cost involved.”
Source: Sibos Online
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