What is Electronic Invoicing?
Electronic invoicing refers to the electronic sending/ receipt of invoices, between, for example, a private company delivering their products to a customer from the public sector. Electronic invoicing is supported by all common EDI solutions. Even though electronic invoicing has historically been a requirement within the public sector, an increasing number of private companies have adopted the use of electronic invoices.
Tax authorities around the world are continuing to impose new requirements to increase controls on the transactions of companies. If your organization has subsidiaries in multiple countries, especially within Europe, you need to start thinking about how to automate, centralize, and streamline the processes needed to meet their periodic VAT reporting obligations.