Electronic Invoicing 

While specific requirements vary by country, global companies operating in Latin America can expect some consistencies among e-invoicing mandates:

  • E-invoicing is mandatory – If you want to do business in these countries, you will comply with the process for all invoices sent to customers or received from business partners.
  • Latin America requires a real-time, fully integrated process – Compliance is much more than a digital signature. It requires full integration between your ERP, the government server and tax reporting.
  • Logistics processes are affected – You can’t ship your products until you receive approval from the government. 
  • The country defines the standards (and requirements in each country vary) – The only valid invoice in mandated countries is the XML; paper and PDF formats don’t matter and won’t help with an audit.
  • Constant change – Expect mandates to change two to three times per year for each country. For companies managing compliance internally, that means constantly updating your ERP system, the process, the XML files and the government connections.
  • All business processes are affected – finance, accounts receivable, accounts payable, shipping, inbound receiving and logistics are all impacted by these regulations, and many countries are expanding regulations into HR and payroll as well.

Invoiceware’s end-to-end e-invoicing solutions allow companies to maintain comprehensive compliance within their existing ERP, maintaining complete corporate visibility and eliminating audit risks.

Contact us today to learn how Invoiceware can streamline your Latin American e-invoicing processes.

 

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“…By transitioning to the Invoiceware solution, Philips lowered annual maintenance fees by 80%... and achieved a 25% increase in productivity among employees across all the business units of the Brazilian multinational…”

Alexandre Quinze, CIO Philips Latin America 

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