E-invoicing Solution

Q: How is the typical implementation process of TrueCommerce’s e-invoicing solution, and which competences will TrueCommerce bring to the project?

If you are an existing customer of TrueCommerce, you will be able to use your EDI solution to become tax compliant within the countries you are operating in.

Q: Are there any specific rules for VAT compliance in different industries or countries?

No. The tax compliance requirements are not industry specific, but there are different requirements applicable for each country in Europe.

Q: How does TrueCommerce differentiate from competitors in the market?

If you are an existing customer of TrueCommerce, you will be able to use your EDI solution to become tax compliant within the countries you are operating in.

Q: Which processes will be supported? (Send, receive, error handling, management controls, etc.)

TrueCommerce supports the entire process from sending to the reception of the invoices. All documents are validated before they are sent to the recipient. In case of errors, TrueCommerce will send an error message to the sender of the invoice with the specific misdescription.

Conquer Global E-invoicing Complexity Effortlessly with TrueCommerce

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What is E-Invoicing?

E-invoicing (or electronic invoicing) refers to the electronic exchange of invoices between businesses in a structured data format. E-invoicing replaces traditional paper invoicing and brings along numerous benefits: E-invoicing enhances efficiency, facilitates automation, and reduces errors associated with manual processes by ensuring data accuracy.

With global e-invoicing comes local regulations that businesses with subsidiaries in the countries concerned need to comply with.

An e-invoicing solution effectively solves the compliance hurdles businesses face when operating nationally, across Europe, and the globe and is a more cost-effective alternative to traditional invoicing.

Our solution is your way to streamlined invoicing that navigates the complexity of regulatory standards around the world. Say goodbye to compliance headaches and hello to seamless transactions, no matter where your business takes you.

Simplify your E-invoicing process and stay ahead of the curve with TrueCommerce.

Checklist: Are You all set for Compliant E-invoicing?

If your answer is “No” or “Not sure” to any of these questions, you will most likely benefit from a review of your current e-invoicing setup.

Speak to One of Our Specialists

RULES: Are you aware of the latest CTC e-invoicing rules in the countries with VAT or similar laws in which you operate?

COMPLIANT: Are you confident that you are currently complying with the e-invoicing rules in all the jurisdictions that your business has VAT liability?

IMPACT: Have you given much consideration to the impact of new CTC mandates on your current billing and reporting processes?

UPDATED: Are you keeping up with evolving CTC mandates by reviewing your source systems for e-invoicing and e-reporting data extraction?

Are you Ready to Conquer the Challenges Hindering Your Company’s Invoicing Processes?

Current E-Invoicing methods will become incompliant due to the changing regulatory landscape, posing a significant challenge for businesses.

Navigating the ever-changing landscape of E-Invoicing requirements, staying up to date, and handling compliance tasks is complex and time consuming. Businesses struggle to interpret and implement compliance requirements across different jurisdictions, countries, and types of transactions.

The lack of standardized processes and centralized platforms increase the compliance burden, leading to increased risks of errors, fines, and reputational damage

Working with multiple providers to support your supply chain is complex and expensive

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How can TrueCommerce help?

Transform your E-invoicing processes today!

Reduce costs with compliant digital invoicing ensuring data security and integrity while you benefit from trusted advisors who ensure you stay compliant.

Our solution will be seamlessly integrated with your existing systems to optimize your e-invoicing processes so you will free up time to focus on what truly matters: Your Core Business.

Our Solution for E-invoicing

With an e-invoicing solution from TrueCommerce, we ensure that you meet your customers' and suppliers' requirements for receiving e-invoices.

No matter how you prefer to connect with your trading partners—whether through VAN, PEPPOL, or a direct connection—or which format they require, such as BIS, OIOUBL, XRechnung, or another format, we ensure that your e-invoices are compliant with those specifications as well as with the regulatory demands in the specific countries.

GLOBAL REACH

Whether you operate within Europe or across the globe, we ensure that you meet regulatory standards around the globe.

STAY COMPLIANT

We make it easy for you. Our streamlined processes ensure that every invoice you send meets the compliance standards

THE ENTIRE SUPPLY CHAIN

Your supply chain is the backbone of your business. This is why we focus on your processes and trading partner communication.

TRUSTED ADVISOR

With our extensive expertise, we are more than just a service provider – we are your Trusted Advisor.

Why is Tax Compliant E-Invoicing So Important?

Why is Tax Compliant E-Invoicing So Important?

Tax authorities around the world are actively imposing new, strict requirements to increase controls on the transactions of companies. As regulations continue to evolve, businesses face the challenge of staying updated and ensuring accuracy and compliance when sending electronic invoices to their customers in the countries where they have VAT liability.

An example of a complex e-invoicing requirement is Continuous Transaction Control (CTC) which is becoming more widespread across Europe and South America.

Who Needs Tax Compliant E-Invoicing?

Any company with one or more European/global subsidiaries will need to get familiar with the requirements within those countries. If you have VAT liability in a country with complex e-invoicing requirements, such as CTC, this solution is relevant to you.

What is Continuous Transaction Control (CTC)?

Some countries require for invoices to be passed via their local authorities for verification. This model is referred to as Continuous Transaction Control (CTC).

One example is Italy. All invoices from your Italian subsidiary to your B2B customers within Italy must be registered in the so-called SDI portal established by the Italian authorities. In the SDI portal, the invoices will be verified by the authorities before they are forwarded to your customer.

The aim of CTC is to increase efficiency, cut costs and fight fraud. CTC is becoming more widespread across Europe, and the next countries to introduce CTC will be France, Poland and Spain. This is creating huge pressure on companies to implement global tax compliant e-invoicing in a consistent, scalable and cost-effective manner.

Frequently Asked Questions

What is tax compliant e-invoicing and why is it important for businesses?

Global e-invoicing involves navigating a complex landscape of ever-changing tax laws, reporting requirements, and deadlines.

Tax authorities in countries across Europe are actively imposing new, strict requirements for electronic invoicing. As regulations continue to evolve, businesses with subsidiaries in multiple countries face the challenge of staying updated and ensuring accuracy and compliance in their sending of electronic invoices.

How is the typical implementation process of TrueCommerce’s e-invoicing solution, and which competences will TrueCommerce bring to the project?

Why is VIDA being introduced?

To put it simply, it’s because countries across Europe are losing a staggering amount of money to fraud and unredeemed VAT revenues. According to the 2022 Report on the VAT Gap released by the European Commission, EU Member States lost an estimated €93 billion in Value-Added Tax (VAT) revenues in 2020. By digitising their processes, it’s hoped that the administrative workload surrounding tax and VAT collection becomes much more efficient.

How should businesses respond to VIDA?

Essentially, businesses need to ensure that their data and their way of doing business complies with the legislation which is being rolled out. Standardisation is critical to staying compliant and avoiding penalties. Organisations need to ensure that they understand the legislation, can comply with the legislation and then sure ensure compliance across all their transactions – which is no mean feat for any business to tackle alone.

Are there any specific rules for VAT compliance in different industries or countries?

What is Continuous Transaction Controls (CTC)?

Continuous Transaction Controls (CTC) are a set of processes that enable law enforcement agencies, such as tax administrations, to view real time or near real time financial data relating to business activity in their countries.

Unlike previous methods of tracking tax owed from transactions, data is obtained directly from business transaction processes or data management systems in real time, or near-real time.

Countries already imposing CTC regulations are Italy, Poland and France.

In a CTC model, TrueCommerce takes your inhouse invoices, passes them through our compliance solution which ensures they meet tax authority requirements and then forward it onto the final destination.

What is Post Audit?

When Post Audit is applied, the authorities are not involved in the process of exchanging invoices or other data between the trading partners; instead, they can audit the compliance of the process after the exchange.

In a Post Audit model, TrueCommerce retrieves the information, and then we ensure that the information is compliant before we forward it for a qualified signature. Finally, we submit the invoice directly to the recipient, or if a VANs provider is used, TrueCommerce will send the invoice through the VANs partner before sending the invoice to the recipient.

E-invoicing Solution

Conquer Global E-invoicing Complexity Effortlessly with TrueCommerce

What is E-Invoicing?

Checklist: Are You all set for Compliant E-invoicing?

If your answer is “No” or “Not sure” to any of these questions, you will most likely benefit from a review of your current e-invoicing setup.

Are you Ready to Conquer the Challenges Hindering Your Company’s Invoicing Processes?

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How can TrueCommerce help?

Transform your E-invoicing processes today!

Our Solution for E-invoicing

With an e-invoicing solution from TrueCommerce, we ensure that you meet your customers' and suppliers' requirements for receiving e-invoices.

GLOBAL REACH

STAY COMPLIANT

THE ENTIRE SUPPLY CHAIN

TRUSTED ADVISOR

Frequently Asked Questions

What is tax compliant e-invoicing and why is it important for businesses?

How is the typical implementation process of TrueCommerce’s e-invoicing solution, and which competences will TrueCommerce bring to the project?

Why is VIDA being introduced?

How should businesses respond to VIDA?

Are there any specific rules for VAT compliance in different industries or countries?

What is Continuous Transaction Controls (CTC)?

What is Post Audit?

How does TrueCommerce differentiate from competitors in the market?

Which processes will be supported? (Send, receive, error handling, management controls, etc.)

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