Four quotes from Jan Sundelin (CEO TIE Kinetix) on the Trustweaver deal

Late February we published the announcement that TIE Kinetix incorporated global e-invoicing and e-archiving compliance capabilities from Sweden-based company TrustWeaver, to its FLOW Partner Automation platform.

The partnership allows TIE Kinetix to support its customers with legally compliant issuing, receiving, and storage of e-invoices in over 55 countries in Europe, Asia, Africa, and the Americas.

In an interview with Payments Jan Sundelin, CEO of TIE Kinetix, shared his thoughts on the global compliance cooperation:

“TIE Kinetix can now support its own client roster with e-invoicing that is compliant with rules governing issuing, receiving and storing of documents across 55 countries. Many of those countries also have outlawed paper invoicing, so digital record keeping and audit trails are mandatory and may need to be embraced immediately by companies seeking to enter new markets.”
“Among the biggest verticals to realize demand for these services are retail and also food and beverage firms. And beyond that, while larger firms, regardless of industry, may use EDI systems to manage document flow, smaller firms need to work with management systems to ensure timely communication with supply chain partners and also satisfy legal requirements.”
“The partnership is one that seeks “to serve the digital needs” of firms as they deal with trading partners and government organizations and especially “as they need more security” for those documents. Dealing with each country means dealing with local tax jurisdictions, and digital supply chains, so to speak, must work in tandem with real-world ones. Smaller firms with say 5,000 to 6,000 invoices flowing through the business on a monthly basis, can see such e-invoicing initiatives as a “pain point.””
“Technology, and the compliant paperless invoicing initiative also allows for tracking, which is especially useful in emerging markets and economies in tracing the flow of goods and services across orders, invoices and shipping notes. Such tracking involves eSignatures and can lead to better customer satisfaction, along with fewer errors that might otherwise be tied to manual entry of data.”

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