15 May Tradeshift and Invoiceware International partner to deliver compliant e-invoice validation in Latin America
e-invoicing sounds to most like a boring bit of back office business but in Latin America, the issue of e-invoicing and in particular the issue of getting it right is a little bit more on the edge. Getting its wrong can have serious and dramatic consequences which is why it good news for Tradeshift to have partnered with the leading solution provider in the region, Invoiceware International, to deliver guaranteed compliance.
Take Brazil as an example to illustrate the complexity. There are three types of electronic invoices: NF-e for goods, NF-e for services and CTe, transportation invoices. I’m confused already!) The use of these invoices is not optional. They need to follow the state mandated e-invoicing rules. They have to be right, they have to show correct tax which could be set at a State level or a local level and truck drivers need to be able to produce all documentation on demand. And it all has to stack up otherwise, the truck is impounded. This is a serious business which is why it’s really important that any e-invoice service provider operating globally – if they are to be credible – have to be able to comply with these strict and rules.
Tradeshift’s partnership with Invoiceware, announced today, means that enterprises on the Tradeshift platform can now take advantage of the validation and compliance technology provided by Invoiceware International. To quote their press release: “With Latin America being well known for its complex and often intimidating business regulations, the deal signals another great step forward in the right direction for Tradeshiftand their vision of connecting every business on the planet.”
“The potential in cost and time savings to businesses in Latin America and multinationals — that alone is enough to make this partnership a success. But what is the most encouraging, for us, is to see the Tradeshiftvision and mission of delivering an open, global technology embraced by the region which has proven e-business is the way of the future,” commented TRADESHIFT CEO and Co-founder, Christian Lanng.
“As the leading e-invoicing platform provider in Central and South America, we understand financial compliance is more complicated here than in any other region on the planet. With this partnership, a new global community will be able to access multiple Latin America countries on a single platform and benefit from our commitment to guaranteed government compliance as the mandates evolve over time,” added Scott Lewin, President and CEO.
Tradeshift have made a sensible move tying up with Invoiceware and I’m looking forward to speaking to Christian Lanng and Invoiceware’s Steve Sprague next week to get a deeper insight to what’s going on in South America.
Pete Loughlin can be found on twitter @peteloughlin