Atlanta, Georgia November 20, 2013 - Invoiceware International extends their SAP® ERP electronic invoicing applications for Mexico to support inbound invoice processing and commercial compliance, also known as three way matching. With approximately 500,000 companies transitioning to electronic invoicing by January 1, 2014, multinationals need to adapt their inbound receiving and invoice approval processes to handle XML. Companies should expect upwards of 80 to 90 percent of supplier invoices to transition to electronic formats due to this legislation.
“Most companies have been concerned with the Accounts Receivable process since the May 2013 e-invoicing announcement by the Mexico tax authority (SAT); however, the inbound processing requirements are also mission critical. Failure to collect, validate and archive the XML CFDI invoices from the supplier community exposes a multinational to audit risks and potential fines, said Scott Lewin, CEO, Invoiceware International. “Invoiceware International is the only SAP e-invoicing solution that addresses both the government validations, ensuring invoices are okay to deduct, and the commercial validations, ensuring that invoices are okay to pay.”
The advantages of Invoiceware International’s SAP native extensions for supplier invoice validation include:
- Provides a collection mechanism and monitor for all supplier invoices regardless of communication protocol
- Provides direct integration of the CFDI XML into a manageable view inside of SAP with one click access to the XML and PDF representation
- Provides automatic fiscal compliance to ensure it is a government approved and valid invoice prior to processing
- Invoices that fail the government compliance check are automatically sent back to the supplier to cancel and adjust
- Provides a single scan solution at the warehouse to generate a goods receipt from the PDF accompanying the truck
- Automatically triggers the 3 Way Match of the Purchase Order, CFDI Invoice, and the Goods Receipt
- Provides one click payment release in SAP
Visit www.invoicewareint.com to learn more about Latin America E-lnvoicing Compliance for SAP ERP.
About Invoiceware International
Invoiceware International operates the Global Compliance Network, a cloud-based platform that delivers financial and supply chain managers the regulatory processes that they need while eliminating ERP configurations and customizations for the IT staff. A single connection to the network, simplifies the mandates, the implementation, and the ongoing change management associated with regulations in the Americas, Europe and Asia, including Brazil Nota Fiscal, Mexico SAT, Argentina AFIP and Europe’s Excise Movement & Control System. Invoiceware International is headquartered in Atlanta, Georgia with operations worldwide. For more information, please visit: www.invoicewareint.com