Four Advantages of Having a Global e-Invoice Provider

Four Advantages of Having a Global e-Invoice Provider

19/06/2017

The electronic invoice is being used more and more throughout the world. In some cases, companies have made the decision to use e-invoices in order to eliminate paper and increase efficiency. However, in most cases it is a requirement for tax compliance. This is already the case in most countries in Latin America and Europe. Other regions such as Asia and North America are also beginning to take steps to encourage the use of this technology.

The problem is that in a globalized world, where companies often operate in different markets, electronic invoicing does not follow the same pattern. Each country has implemented a different model, which requires the use of certain technical requirements. Therefore multinational companies are faced with the challenge of adapting to the requirements of each country.

The communication and the implementation of this system with different partners in different markets can jeopardize its efficiency. The way to overcome this obstacle is to hire one global electronic invoice provider. These are the main advantages of centralizing management.

1. Increased Productivity

If a company uses one provider and solution, the administration department will be able to work in a centralized way. In other words, it will be possible to control all tax compliance at the global level from the same country and headquarters. This will avoid possible errors and streamline tasks, which will increase productivity.

2. Economic savings

One of the most important trends in the business world is the centralization of tax systems and operations through a Shared Services Center. The integration of tasks and the centralization of communications is key to saving on economic costs, in terms of infrastructure and personnel. With a provider and a global electronic billing platform, these centers can fully outsource the processes. Otherwise, they would encounter fiscal compliance difficulties in different zones due to the heterogeneity of current models.

3. International Support

A global electronic billing provider will allow companies to have direct support in the different languages that they use and will be available 24 hours a day. This is fundamental because of time differences involved when dealing with several partners. If there’s a problem and the manager is at the other end of the world, a company may have to wait to solve it. Any delay in the area of tax compliance can become a serious mistake.

4. Constant updates

Not only are there different electronic billing regulations in each country, but legislative changes must also be kept in mind. This system is constantly evolving. That's why it's advantageous to have a single global provider that keeps up with all the updates and adapts to the electronic invoice solution automatically. That way companies will have a guarantee of tax compliance that will avoid possible sanctions.

Global E-Invoicing Platform: The EDICOM Solution

EDICOM is a global electronic billing provider based in eight countries around the world and offers support 24 hours a day, seven days a week, 365 days a year. The Global E-Invoicing Platform is designed to integrate with the management systems of multinational companies and it adapts to the tax compliance regulations in more than 60 countries. In addition, it is constantly updated with any changes detected by the International Electronic Invoice Observatory.

e-Invoicing Platform

A single solution that lets you issue electronic invoices in any country worldwide

Consulta las últimas noticias en...

Resources

E-Invoicing in Latin America

Adapt your billing system to the needs of any Latin American country.