EU designates UBL2.1 as referable standard. But what does that mean?

November 12th, 2014 by in Europe, Purchase-to-pay, Standards

The European Commission issued a decision on the identification of Universal Business Language version 2.1 for referencing in public procurement as Ken Holman mentioned in this LinkedIN discussion. Article 1 of the EC Decision states: “Universal Business Language version 2.1 developed by the Organization for the Advancement of Structured Information Standards is eligible for referencing in public procurement.”. But what are the implications of this decision? We have the answers!

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Intermediairy results on mandatory B2G e-invoicing in Italy

As of June 6, 2014, B2G e-invoicing became mandatory for some public sectors in Italy, such as the Ministries, the Tax Agency and the state security forces. The deadline for full mandatory B2G e-invoicing in Italy is set for June 2015. The Polytechnic University of Milan Observatory did some intermediary research on the past three months on how things are going and they’ve come with these findings:

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Chili believes e-invoicing to be an ally against tax fraud

Since November 1 this year, Chilean companies with annual revenues greater than 100,000 UF will be required to issue the Electronic Tax Document (DTE). And in 2018 mandatory e-invoicing will be in full effect in Chile. According to former SII Director, Alejandro Burr, Chili can raise roughly $600 million per annum due to the reduction in taks fraud and increased fiscal control.

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Indonesia introduces VAT steered e-invoicing system. Mandatory in July 2016

Taxand Indonesia mentioned in a post that Indonesia has introduced a new VAT biased electronic invoicing system. This new system will be implemented in 3 stages. For the first phase, the Directorate General of Taxes (DGT) has identified 45 companies which will be required to issue electronic VAT invoices. These are mostly foreign investment companies, state-owned enterprises and publicly-listed companies.

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CFDI download portals remain legal despite recent SAT ruling

November 10th, 2014 by in Compliance, Electronic Invoicing, Latin America

On 5 October, the Mexican SAT announced a new non-binding criterion related with CFDI E-invoices. According to this ruling, it is improper to ask buyers to enter a particular website to get their receipt, since the seller is obliged to issue it directly. However both SAT and Amexipac have stated that CFDI portals for issuing and downloading invoices “are legal and authorized”.

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TwoSides convinces 30 more companies to remove their “Go Paperless – Save Trees” claim

November 10th, 2014 by in Digitalisation, Electronic Invoicing

We know Two Sides as the initiative that challenges the go green claims that companies use to promote their electronic services. TwoSides believes that these claims are misleading and in the past successfully engaged with 50 companies primarily in the banking, telecommunications and utilities industries. Today, another 30 leading North American companies have now committed to remove their “anti-paper”-based claims.

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Invoiceware International hits 480 percent growth in Q4 compared to Q3

Invoiceware International announced a 480 percent quarter-over-quarter growth compared to Q3 2013. It signed 21 new deals this quarter alone and increased sales in all markets served – Mexico, Brazil, Chile, Argentina and Ecuador. And, adding to the momentum, Invoiceware International has expanded its fiscal reporting solutions, offering complete compliance support for eContabilidad mandates in Mexico.

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Another OneTime EDI client for Wesupply

Tembé DIY and Building Products moves to Wesupply for fully managed EDI for a truly outsourced, fully managed cloud EDI service that removes the requirement for considerable in-house monitoring.

As Wesupply’s solution OneTime is delivered as a fully managed service, Tembé will benefit from a dedicated team who will look after the customer on-boarding and day-to-day running of EDI activities on the company’s behalf.

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Taulia delivers Rapid Revenue and Funding Growth in Q3 2014

November 6th, 2014 by in Electronic Invoicing, Europe, North America

Taulia is a major provider for supplier financing and announced a 185% increase in year-over-year revenue during the third quarter of 2014.It also raised $13 million in a Series D funding. And it announced with the Royal Bank of Scotland to offer dynamic discounting and e-invoicing. And there is more!

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Konica Minolta selects Ariba for next generation e-procurement

November 4th, 2014 by in North America, Purchase-to-pay

Like many companies, Konica Minolta relies on an extensive global network of partners. To connect with them and execute critical business processes, Konica Minolta will utilize the Ariba Network. Used by more than 1.6 million companies in 190 countries to discover, connect and collaborate around more than half a trillion dollars in commerce on an annual basis, the Ariba Network is the world’s largest web-based trading community.

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