Increasing eInvoicing Regulations Globally
In the rapidly evolving world of global commerce, the implementation of electronic invoicing (eInvoicing) regulations is becoming increasingly prevalent. These regulations are not just a trend; they represent a significant shift in how businesses process transactions and report to tax authorities.
With over 80 countries having eInvoicing mandates and more on the horizon, the need for companies to adapt their Enterprise Resource Planning (ERP) systems has never been more critical.
The essence of these new eInvoicing regulations lies in their ability to streamline the invoicing process, reduce errors, and combat fraud. However, the diversity in regulations across different countries poses a considerable challenge for multinational corporations.
What about ERP systems such as JD Edwards?
Each jurisdiction has its unique set of rules, and staying compliant requires a robust and adaptable ERP system. For instance, Spain has recently published regulations that demand specific technical specifications for invoicing software and systems, emphasizing the integrity and non-alteration of invoicing records.
Adapting ERP systems to comply with these regulations is not a simple task. It involves significant financial and technical resources, especially when dealing with multiple systems or versions. The integration frameworks must be robust, and data management practices must be meticulous to ensure compliance.
Moreover, the dynamic nature of these mandates means that static solutions are insufficient; continuous adaptation is necessary to keep up with the evolving laws and requirements.
In response to these challenges, many companies are turning to specialized eInvoicing solutions that can be integrated with their existing ERP systems. These solutions offer the flexibility and functionality required to meet the legal requirements of various countries. They also provide the added benefit of automating the invoicing process, thereby reducing manual labour and the potential for human error.
Steltix eInvoicing Automation Solution
And that’s how our eInvoicing Automation Solution for JD Edwards was born. This solution is designed to work natively with Oracle’s standard code and functionality, offering a seamless integration with JD Edwards ERP systems. It supports both outbound and inbound invoice processing, includes digital signature capabilities, and offers a dedicated workbench for monitoring invoices.
If you are interested in learning more about our eInvoicing Automation Solution for JD Edwards, join our upcoming webinar which promises to be an invaluable source of information. Participants will have the opportunity to see the solution in action and ask questions to an expert in the field.
Gain a deeper understanding of the global eInvoicing regulations in regards to JD Edwards and discover how you can streamline your invoicing processes efficiently.
Register now and become eInvoicing ready!
