There is no one-size-fits-all approach to e-invoicing mandates. Countries are selecting the model that best fits their various requirements, resulting in a hugely diverse landscape. Once introduced, governments fine-tune and amend guidelines, change invoice format requirements, and expand the scope. With the introduction of new cross-border mandates in several countries, things are only getting more complex.
It is no longer enough to become compliant – you must stay compliant. Just keeping up with the new mandates is more than a full-time job, let alone implementing the necessary changes. This is becoming a huge strain on resources for already overburdened finance departments.
In a recent sharedserviceslink poll regarding e-invoicing mandates, only 14% of AP professionals said they understood exactly what was being asked of them and knew what they needed to do.
Most CFOs strive to improve business process. So it’s not the best news when finance teams hear of yet another country looking to regulate how that process might work. For Enterprise companies, it can feel like a wrench has landed in an already complicated road map. Governments have their drivers to seek out more data on businesses, and find every which way to close sales tax gaps. Covid has only exacerbated that. But their scrutiny potentially leads to an encumbered delivery on automation programmes.
This exciting guide reveals how you can ‘have it all’: you can school up on country VAT compliance needs, fulfil them, and meet your invoice automation business goals.
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