Mandatory B2B e-invoicing in Portugal? The first in Europe? Allowed?

December 15th, 2014 by in Electronic Invoicing, Europe, Featured Articles

Now this is interesting. Edicom mentioned in this post that in April 2014, electronic invoicing finally became mandatory for all companies registered in Portugal and that as as from e-invoicing is mandatory for all companies as from 1 January 2015.

To me, this seems the first instance of mandatory B2B e-invoicing in Europe. Which is interesting. Probably even more interesting is the question whether this approach is allowed based on the European e-invoicing directive? I thought that the current directive didn’t provide enough room for Member States to create such compulsory B2B legislation.

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12 E-invoicing and AP Automation bites you may have missed last month

We continuously collect news items that for some reason don’t make it to a full post here at the E-invoicing Platform. News from the world of on e-invoicing, payments, invoice automation, order to cash, purchase to pay, compliance or e-procurement. And because we do want to give you the opportunity to get informed about what is going on all over the world, we provide you with this news flash.

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LATAM E-invoicing mandates drives supply chain adoption

Supply chain finance encourages collaboration between a buyer and seller rather than each party working solely for self-interested purposes. Though supply chain finance has been around for a number of years, there’s an argument to be made that the government mandated e-invoicing system that’s in place throughout much of Latin America may help to further drive financing in the supply chain.

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When will the trade finance world see the future? [Opinion]

Companies are moving into open account trade relations. Banks’ role is limited to money transfer and fees made, in letter of credit methods are now gone. Apparently with the Bank Payments Obligation, SWIFT has once again thought to have found a cure (after its failed TSU product) to recapture the dying trade income.

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Mexico eContabilidad SAT updates focus on Corporations in 2015

The Mexico SAT has doubled down on their eAccounting requirements with a focus on corporations. While the go-live date has transitioned from January 25 to March 3rd, this doesn’t mean you should delay your implementation. Watch this 20-minute overview to understand the key changes and how they will affect your company going forward.

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Beijng expands electronic invoicing pilot

December 8th, 2014 by in 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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Only 7% of of 24% Slovenian e-invoices were in structured format

December 8th, 2014 by in Adoption, Electronic Invoicing, Europe

E-invoicing is most widely used in large companies (24%) followed by medium-sized companies (8%) and small companies (6%). Some 35% of large companies issued invoices in electronic form that are not suitable for automatic processing. On the other hand, 77% of companies issued only printed invoices to other companies or public institutions last year. E-invoices were received by 16% of companies.

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Consultation: Should UK companies provide payment, e-invoicing details?

December 8th, 2014 by in Adoption, Europe, Government, Legal, Payment

Now this is an interesting news release on the website of Supply Management. It states that the UK Goverment is asking for views on our proposals to make companies report on their payment performance to help create responsible payment practices. The idea behind the consultation is to know if the UK Goverment should ask companies to report on a series of measurements that will tell them about several payment performance indicators.

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E-Invoicing- Key stakeholders as game changers [Billentis report]

A market report authored by Bruno Koch of Billentis, a globally recognized industry analyst in the e-invoicing space, examines the global opportunities for electronic invoicing / electronic billing in 2014. The market is expected to grow at 20-25% in the coming years. Companies considering e-invoicing solutions can use this report to find the best model for themselves and a suitable solution.

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Tungsten’s Early Payment is now live in the UK and in the USA, to reach the USD 1,000 bn goal

This move is part of the company’s progress towards its medium term goals of:$1,000 bn of invoice value on the Tungsten e-Invoicing Network, $100 bn of invoice financing through Tungsten Finance, $10 bn of savings for clients using Tungsten Analytics.

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