90% of Fortune 500 misunderstand Mexican Mandatory CFDI E-invoicing

November 4, 2013  |  Electronic Invoicing, Latin America, Legal

90% of Fortune 500 ignore Mexican Mandatory CFDI E-invoicing Scott Lewin mentioned in this post that when on the phone with Fortune 500 companies to discuss Latin America electronic invoicing, the conversations were similar to many he has had over the last few months. In essence they had taken no steps toward implementing Mexico CFDI invoicing. Neither on the outbound side nor on the inbound supplier side. And now they are in panic mode. Why? Because their local team had told them it was not a big deal; but once they started understanding the requirements, the impact to their ERP, and the frequency of changes to the legislation, they realized it was a big deal. A very big deal.

When it comes to the inbound Buyer side requirements in Mexico several aspects are often overlooked by the local teams of the Fortune 500’s First of al they don’t think the mandates exist for AP validatio. Second, their suppliers are still sending paper today. And finally, they just don’t think the mandates are real because the government has not had a history of enforcing CFDI.

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