Despite the clear benefits of electronic invoicing, such as time and cost savings and the positive environmental impact of going paperless, the adoption of e-invoicing has remained slow. One reason might be the increased globalization of business relationships and the associated complexity of complying with different national tax laws and regulations. Now, thanks to the SAP E-Invoicing for Compliance application by Crossgate, that problem is solved.
The SAP E-Invoicing for Compliance application by Crossgate makes it possible for companies to stay in compliance with the relevant legal regulations associated with electronic invoice exchange for more than 35 countries in North America and across the EMEA region. Support for additional countries is scheduled to follow as the solution is extended to meet additional legal requirements.
This application allows companies to further automate their financial operations processes in the areas of invoice dispatch and receipt, the creation and verification of digital signatures, and compliance checks and auditable archiving. Automation not only reduces errors from manual data entry and eliminates time delays, but also offers a high degree of transparency, which is essential when dealing with international regulations.
SAP E-Invoicing for Compliance is offered as a solution extension by SAP and it is delivered with standard interfaces for SAP ERP and the SAP Invoice Management application by OpenText. The solution is extremely scalable and therefore is suitable for both small businesses and large international enterprises. SAP E-Invoicing for Compliance can send a small number of monthly invoices in PDF format as an email attachment and a high volume of invoices via Electronic Data Interchange.
“It [E-Invoicing for Compliance] should be understood as the next logical step to SAP Information Interchange by Crossgate,” says Oliver Bahner, executive vice president of SAP Business at Crossgate. SAP Information Interchange – another SAP solution extension – helps businesses exchange data with partners and suppliers more accurately, cheaply, and quickly by making it easier to comply with Electronic Data Interchange standards.
Businesses that already use SAP Information Interchange by Crossgate should consider implementing SAP E-Invoicing Compliance by Crossgate to reap the full benefits of automated financial operations processes.
For more information on SAP Information Interchange see the SAP.info article, “Dealing in Data.”