Lexmark and Invoiceware aim to utilize their combined suite of compliance and financial process automation solutions to help multinational companies reduce the risk of government audits and penalties, while improving operations in one of the most complex regulatory environments in the world.
This partnership will leverage a powerful combination of AP automation from Lexmark and Invoiceware’s sophisticated solution for compliance in Latin America’s strict regulatory environment. With eight countries enforcing mandates, the alliance will help companies proactively manage compliance and optimize AP processes, including invoice collection, intelligent data capture, government validation, commercial approvals and associated fiscal reporting.
In combination with e-invoicing standardization, countries across Latin America are implementing stringent tax reporting requirements, such as Brazil SPED and Mexico eContabilidad, to ensure that the government receives an accurate (and the maximum) amount of VAT tax revenue.
With growing operations in Latin America, Lexmark enlisted Invoiceware International’s e-invoicing and fiscal reporting platform in 2014 to manage compliance in Brazil, and has continued to expand the relationship into new countries and processes since. Through this partnership, Invoiceware combines local knowledge and a regional compliance platform with fully integrated AP workflow and archiving operations from Lexmark to seamlessly integrate AP processes with mandated tax reporting.
Ailie Kofoid, Director of Global Back Office Solutions at Lexmark:
“We’re excited to focus on Latin America with Invoiceware International in order to help companies improve accounts payable processes while proactively managing compliance. Together we will streamline accounts payable processes across the region, while improving VAT tax deduction accuracy and reducing compliance costs.”
Scott Lewin, president and CEO, Invoiceware International:
“We are happy to expand our relationship with Lexmark from a customer of Invoiceware to a partner where we will jointly help global companies manage compliance issues across Latin America. This provides multinationals with an opportunity to leverage our combined business process expertise and minimize the risks of compliance errors.”
