Global e-invoicing | Public sectors demand e-invoices
Public sectors across the globe are pushing for electronic invoicing and bills
The growth in e-invoices/bills is predominantly being pushed by demand from national public sectors. Across the globe, national public sectors are demanding corporations to do invoicing and billing electronically.
National requirements for e-invoicing affects the role of service providers
When the public sector has decided on a requirement to do e-invoicing, service providers of IT infrastructure can look forward to an increased demand for channels used to transfer e-invoices. An example of this is Italy. A requirement for e-invoices was established in Italy for the B2B, B2G, and G2B segments commencing at the start of 2019.
A considerable spike in the number of e-invoices transferred through service providers occurred when Italy introduced a mandate for using e-invoices from the beginning of 2019. That demonstrates that the public sector is one of the main drivers behind development in the e-invoice volume. Read here for more information about e-invoicing in Europe.
Channels Used for Electronic Invoices 2020, Billentis
Main reasons for the development of e-invoicing
Combatting tax evasion is the main driver behind this development. In some countries in Asia, Central- and Latin America, tax authorities are pushing for electronic invoices because this allows them to monitor invoice data in real-time to combat tax evasion. In Mexico, tax yields have improved 34 % since introducing e-invoicing.
Also, sending invoices via the internet has become a natural part of a digitalized workflow. In the past, tax reporting was a side activity. Today, in many cases, it is one of the triggers for digitalization. Electronic tax reporting is quickly becoming an integrated part of the supply chains affected in different ways.
Digitalization of tax reporting affects the financial supply chain
The financial supply chain is mainly affected by increasing requirements from tax authorities. Advanced Latin American countries (Brazil, Chile & Mexico) must transmit real-time invoices electronically and all other tax-relevant data.
Digitalization of tax reporting affects the physical supply chain
When dealing with the physical supply chain, goods may have to be tracked and traced, and this data needs to be transmitted in real-time to tax authorities.
A long-term scenario regarding tax reporting digitalization might be a complete digitalization of all relevant tax documents. That will affect the supply chain entirely from procurement to inventory.
That includes tax documents concerning:
- Conventional Invoices
- POS Supplies
- Payment Financing
- Transport & Logistics
- Trade Facilitation
Digitalization of Tax Reporting, Financial and Physical Supply Chain (1) 2020, Billentis
Supply Chain, corporatefinanceinstitute.com, 2021
Digitalize invoices with standard software
Tabellae is working with digitalizing all relevant documents with the standard Document Management software, Lasernet. With the add-on standard document package from Tabellae, the following documents are included:
- OIOUBL free text invoice
- OIOUBL Sales Order Invoice
- OIOUBL Collection letter
- OIOUBL sales order creditnote
- OIOUBL Free Text creditnote
- PEPPOL BIS 3 Freetext Invoice
- PEPPOL BIS 3 Sales Order Invoice
- PEPPOL BIS 3 Collection Letter
- PEPPOL BIS 3 Sales Order Credit Note
- PEPPOL BIS 3 Freetext Credit note
- FINVOICE Freetext Invoice
- FINVOICE Sales Order Invoice
- FINVOICE Sales Order Credit Note
- FINVOICE Freetext Credit Note
With a standard software like Lasernet provided by Tabellae, your corporation can easily do electronic invoicing and billing regardless of the segment operating in.
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