Fulfillment Breakout – Christiaan Van der Valk, TrustWeaver: “Electronic Invoicing – A Global...

E-­‐Invoicing  –  A  Global  Perspective  

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Why  VAT  is  critical  to  public  finance

Value-­‐Added  Tax  (VAT)  30-­‐50%

VAT  Gap  examples:  EU  20%  (193  billion  €)  -­‐-­‐-­‐  LATAM  10-­‐30%

Invoice  Controls  for  VAT  –  main  categories

Prepare  Ex  ante

Process  Clearance

Archive  Ex  post

Invoice  Controls  –  regional  analysis

USA

ASIA  (-­‐TURKEY)

LATAM  (-­‐BRAZIL)

TURKEY

RUSSIA

BRAZIL

EUROPE

COMMONWEALTH

Tax  authorizaVon  neededE-­‐invoicing  mandatePrescripVvenessIntegrity  &  authenVcityArchiving  DigSig/Timestamp  mandatoryMandatory  XMLClearance  (CL)CL  +  buyer  acknowledgementFull  cycle  CLAccounVng  doc  complianceLocalizaVon

Limited Availability

Compliance  maintenance

Average  65  requirements  per  country,  2  changes  per  year  and  country  1000s  of  configuration  permutations  

Compliance  change  management  incompatible  with  business  change  management

adjust

deploy

testaudit

monitor

How  Best  to  Support  Compliance  Maintenance?  

7

Build  Application  or  API  with  3rd  Party?  

Working  Together  in  a  Diverse  Global  Landscape

Supply  Chain  Operating  Network  Integrate  with  suppliers,  customers,  and  logistics  Receive  and  transform  invoice  data  Orchestrate  and  manage  data  flows

Work  with  local  authorities  Identify  compliant  local  providers  Sign,  timestamp,  validate,  and  archive

4  Examples

▪ EU  Example  Flow  ▪ US  Example  Flow  ▪ Turkey  Example  Flow  ▪ LATM  Example  Flow

EU  Example

Seller BuyerElemica

TrustweaverGovernment

1)  Invoice  Format  1    or  Image

2)  Invoice  Original  Invoice    

3)  Invoice  Format  2  and  Original  Image

5)  VAT  Refund

Local  Providers

Sign  and  Archive

Archive  Ex  post

4)  Archive  Copy

Government

5)Pay  VAT

US  Example

Seller BuyerElemica

1)  Invoice  Format  1  

2)  Invoice  Format  2

Turkey  Example

Seller BuyerElemica

TrustweaverGovernment

1)  Invoice  Format  1  

2)  Invoice  Government  Format

Local  Providers

Sign  and  Archive

Process  Clearance

4)  Receive  Invoice/  Refund

Government

4)Pay  VAT

3)  Invoice  Format  2

LATM  Example

Government

Seller BuyerElemica

TrustweaverGovernment

1)  Invoice  Format  1  

2)  Invoice  Format  3  

3)  Invoice  Format  2  

4)  Compliance/  Refund

Local  Providers

Sign  and  Archive

Process  Clearance

Note:    Brazil,  Chile,  and  Mexico  all  are  different

4)Pay  VAT

Questions? Gary.neights@elemica.com