E-Invoicing | Why a global e-Invoicing solution?
Businesses operate in globalized markets and run their trading operations in a transnational framework, which means they must adapt their processes to an increasingly widespread reality: e-Invoicing. E-billing is a key transaction in trade relations that must comply with the legislation laid down by each country. In some cases, particularly in Latin America, issuance is mandatory. This is due to its potential to improve fiscal control by the tax authorities, in addition to the economic and production benefits.
The rollout of e-Invoicing must be able to optimize management as far as possible. If you plan to implement it in your company, pay attention to these ten tips so that your e-invoicing solution enables you to obtain the highest number of benefits:
01 Better a solution in the cloud
Cloud-based solutions relieve companies from having to dedicate resources, infrastructure and hardware to tasks such as installation, start-up and maintenance. If you opt for this type of platform, you will have greater assurances of availability and upgrading at a much lower cost.
02 Check the capacity for integration with your ERP
The e-invoicing solution must be able to integrate with your management system through a specific communication channel. It is important that the solution is flexible and adapts to the ERP’s technical specifications.
03 Must be multi-standard
The solution must be able to convert the data from your internal management system into multiple structured formats in line with the technical and legal specifications of each country in which your company operates, and even your customers’ particular business needs.
04 Graphic user interface
If the interface is user-friendly and provides a comfortable environment to administer the traceability and status of your invoices, managing them will be so much easier.
05 User administration
How many users need to interact with your platform? Ensure that it has the potential to manage permits and roles for each of them and for specific user groups.
06 Invoice delivery capacity
Check that tax documents can be sent to their destination by electronic means. The solution must be able to deliver bills to the receiver through multiple channels (B2B private networks, AS2, OFTP, FTPS, W. SERVICES, etc.).
07 Differentiated environments
Nowadays, multinational businesses usually work with a single ERP, which users can access from any country. This means greater efficiency, cost savings and control of corporate processes. Nevertheless, it also requires availability of a single solution that is able to invoice in line with the requirements of each country in which the company operates. In other words, you need to have administration frameworks adapted to each issuing country.
08 Must have an updated legal control module
Issues such as format, the inclusion of e-Signatures, time stamps or fiscal control codes and specific identifiers must be taken into account for the documents to be legally valid for tax purposes. This solution you choose must provide guarantees that it is permanently updated in line with the legislation currently in force in the countries where you operate.
09 Better if it is a scalable solution
The system must be able to integrate trading partners with no capacity for sending or receiving e-invoices. To this end, you should have a platform that includes specific functionalities such as customized web portals that let your customers and suppliers interact even when they do not have a specific solution for sending or receiving e-Invoicing.
10 Legal safekeeping
Storage for electronic invoices must comply with the specifications laid down in each country. So, the solution must have a module for legal storage and retrieval of invoices in line with each region’s legislation.