GXS, a leading provider of B2B integration services, recently announced that it has expanded e-Invoicing compliance for its Active Invoices with Compliance (AIC) solution to two additional Latin American countries. The Software as a Service (SaaS) solution’s global tax compliance footprint now includes 41 countries across 5 continents.
Active Invoices with Compliance now includes support for Brazil and Mexico. Electronic invoicing within these countries is subject to strict rules and standards and requires integration with government systems.
“Value Added Tax (VAT) is the predominant indirect taxation method for many areas of the world, and a key factor in electronic invoicing is ensuring that each invoice is compliant with local tax authority regulations,” said Nigel Taylor, head of e-Invoicing solutions at GXS. “This can be a complex challenge for companies operating globally. GXS Active Invoices with Compliance allows our customers to outsource this complexity to us as a Managed Service.”
Using GXS Active Invoices with Compliance, GXS’s customers operating in multiple jurisdictions across the globe have a single solution to maintain tax compliance for electronic invoicing. e-Invoicing enables global businesses to fully automate the invoice capture process by routing data straight from the supplier into the buyer’s Accounts Payable (AP) system to eliminate data re-entry, a time-consuming and error-prone process. In addition, e-Invoicing programs provide vendors with visibility into the status of approval processing or planned payment without the costly, manual verification processes. Proponents of e-Invoicing are also lowering their carbon footprint by eliminating paper from their invoice process, creating a powerful cumulative effect by removing millions of paper invoices from the financial supply chain.
GXS provides a range of e-Invoicing solutions to suit the varying needs of companies to reach 100% trading partner participation in their programs and streamline on-going collaboration with both suppliers and customers. Using GXS, companies can now electronically exchange invoices with regulatory compliance in 41 countries.
Click here to view the entire GXS press release.
GXS has sponsored two upcoming PayStream research reports – eInvoice Technology Insight and the Global eInvoice report. Be sure to check back to download a complimentary copy of the reports to learn more about GXS’ eInvoice solution.