E-invoicing is picking up steam around the world. There are currently over 50 countries with e-invoicing mandates. However, most of these mandates are based on e-invoicing systems that require the use of specialized formats like Peppol BIS 3.0.
Reformatting each individual PDF or EDI file is time-consuming, resource-intensive, and risky if you make even a small mistake – not to mention the difficulties that come with staying on top of highly specific local compliance requirements.
That’s where Storecove’s Enveloped Mode comes in.
In this post, discover how to simplify your e-invoicing process through our unique Enveloped Mode. Learn about current challenges, why e-invoicing interoperability is so important, and how Enveloped Mode can transform your business’ operations.
Let’s dive in!
Compliance Interoperability Challenges
Transmitting e-invoices internationally isn’t easy. Businesses face many hurdles, from the sheer number of regulations across the world to the strict formatting requirements imposed by many regions.
Companies may not be used to using certain formats required by local e-invoicing regulations. Entire business processes may already be configured based on the use of older formats like PDF or EDI, making it extremely difficult to adopt e-invoicing.
Many local e-invoicing requirements are based on the Peppol or Digital Business Networks Alliance (DBNA) networks, which typically require formats like Peppol BIS 3.0 or UBL. Plus, as e-invoicing becomes more popular, the number of available formats increases. Poland uses KSeF, Italy requires SDI, Malaysia works with the LHDN, and Belgium is moving to Peppol.
With each new addition, it gets more difficult for businesses to keep up with format specifications. Converting documents is tiring, especially when there are so many different types required by different jurisdictions.
Read more: E-invoice Formats Explained: A Comprehensive Guide to All Types (In-Depth Analysis)
Why is E-invoicing Interoperability Important?
E-invoicing interoperability is extremely important. Interoperability makes it much easier to fit e-invoicing into your business’ existing workflows, minimizing the amount of additional administrative work and resources needed to make the switch. Also, interoperability makes it easier to comply with local regulations, helping you avoid processing delays and penalties.
Manually changing your invoices to an accepted format is a massive timesink, and correcting any errors can cause operational strain. These activities force time away from revenue-generating or business-growing activities.
Invoices that are in the incorrect format or are otherwise noncompliant can take longer to process or be flat-out rejected. They can hold up payment for weeks, slowing down your organization and causing cash flow problems. Many countries impose financial penalties on organizations that do not issue compliant e-invoices. Noncompliance fees are typically issued per invoice and can add up quickly.
On the other hand, interoperability ensures you can send documents in their original format, increasing efficiency and making it possible for organizations around the world to adopt e-invoicing without stress.
Avoid the issues that come with e-invoice noncompliance by working with an e-invoicing provider that handles document conversion for you. You’ll save time and ensure uninterrupted business.
Read more: Download our free E-invoicing Compliance Timeline
Your E-invoice, Our Envelope
There are currently over 50 countries with e-invoicing mandates. Each of these countries operate using different systems. Luckily, our Enveloped Mode can help you streamline the international e-invoicing process.
Instead of wrestling with dozens of formats, connections, and compliance rules, you can send your document through our API exactly as-is. It can be in any format, from EDIFACT, to XML, to even a flat PDF file. We then reformat it to fully comply with local regulations, wrap it in a secure envelope, and deliver it straight to its endpoint via the Peppol network.
Enveloped Mode allows you to skip hours of painstaking reformatting work, instantly saving your business money in administrative costs and giving you time back to work on what really matters: growing your business.
With our API, international e-invoicing is as streamlined as possible. Our software fits into your existing invoicing workflow, so no changes are necessary to begin e-invoicing. Harness ultimate flexibility with our e-invoicing API.
Read more: How to Send a Peppol Invoice: Step-by-Step Guide for Compliance
Why Storecove is the E-invoicing Provider for You
Whether you’re connecting to Peppol for the first time or trying to expand your e-invoicing capabilities, Storecove is here to help. We offer numerous benefits beyond our revolutionary Enveloped Mode.
As a certified Peppol Access Point, we are prepared to help your business connect to the worldwide open exchange network. Our software will also allow you to send and receive e-invoices through the U.S.-based DBNAlliance at no extra cost. Our global API makes connecting easy: just connect to our software once, and you’ll instantly be able to send and receive e-invoices across the world.
Our software can easily fit into your organization’s current invoicing flow, allowing you to integrate quickly and meet regulatory requirements without complex onboarding. All you need to do is submit an invoice of any format, even PDF. We take care of the rest.
The Peppol and DBNAlliance networks are constantly expanding, with new members joining daily and many mandates planned for the next few years. Get ahead of compliance issues by connecting to our API now and keeping your document standards up to date.
Get Started
Wondering whether our e-invoicing solution is a fit for your company? Request a free test account to gain access to a sandbox environment for 30 days. You’ll be able to experiment in a sandbox environment, giving you the chance to explore our intuitive interface and experience the benefits firsthand.
To learn more about Peppol or our e-invoicing solution, book a demo with our team. Feel free to contact us with any questions. We’re here to help.
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