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What is e-invoicing?

E-invoicing is the process of creating and providing sales invoices in an electronic format, helping the electronic data interchange between the IT systems of a supplier and a buyer. Help provide structured data, such as an XML or JSON file, an e-invoice allows the recipient to automatically import the invoice data into their accounting or ERP system. These structured files are difficult for humans to read.

E-invoicing helps all businesses around the globe as the invoicing process becomes much faster, more reliable, and more efficient. E-invoices do not get lost, there is no need for paper-based sending and storage.

Human readable PDF files can only work as e-invoices if they include the data embedded into them in a structured format such as XML so that the business applications can interpret and process these. The best example is the combined PDF/A-3 format.

Governments around the world are requesting the use of e-invoicing for business activities. Increasingly, e-invoicing includes live tax reporting to tax authorities.

Why should businesses adopt e-invoicing?

Businesses should adopt e-invoicing to stay compliant and to continue trading in countries where e-invoicing is mandated, to \enable their compliance in countries where they plan to begin trading and to benefit from automated AP/AR processes as a part of a wider digital transformation strategy.

When should you consider implementing e-invoicing?

To stay competitive, it’s best to start implementing an e-invoicing solution when you discover a provider that aligns with your long-term e-invoicing needs.

Know your government’s e-invoicing requirements and prepare ahead to help ensure your operations remain seamless and in compliance with regulatory requirements and that you can respond to market demand early as more and more businesses start to use e-invoicing.

What are the main benefits of using e-invoices?

  • Save time, costs, and effort - e-invoicing brings significant cost reductions by eliminating expenses related to paper, printing, postage, and manual handling. It’s also better for the environment!
  • Faster payments boosting cash flow - Say goodbye to manual data entry and paper shuffling, as e-invoicing paves the way for quicker payment cycles and enhanced cash flow.
  • Reliable and error-proof invoices -With e-invoicing, the likelihood of errors from manual data entry or processing is greatly diminished, can more precisely invoices and fewer disputes.
  • Better business decisions - e-invoicing simplifies the invoicing procedure, cutting down on the time and energy needed to create and send invoices. This, in turn, frees up valuable resources to focus on other aspects of your business.

What are the CSFs?

In some countries, depending on the local legal requirements, the base capabilities of Epicor Financials need additional features to help customers remain compliant. The Country Specific Functionality (CSF) packages in Epicor Financials enable access to different functionalities required by law, a specific industry, or a widely used local process. Most of the capabilities available in CSF packages are related to financials. The CSF packages are developed, tested, and released with each Epicor Financials release, design to have a seamless experience for any users in the given country.

The CSF packages can be purchased separately for each country, containing detailed documentation on the configuration of the add-on functionality included. Typically, CSF packages also contain locally required human-readable reports, electronic reports, declarations, statements, electronic invoicing solutions, payment instruments, access to third-party interfaces, tax handling logics, forms, validation, or certification routines.

These packages allow your business to grow and expand into new geographies without purchasing additional third-party software, saving you precious time and costs when starting new practices.

Why are the CSFs the best place to deliver e-invoicing solutions?

Epicor Financials CSF packages are maintained by Epicor and patches are issued more frequently between the two annual major releases of Epicor Financials, based on the urgency.

Instead of customers looking at third-party applications and building out the integrations and maintaining these individually, Epicor offers a new e-invoicing solution along the relevant country CSF packages.

What can you get with Epicor Financials CSFs?

  • Add-on local capabilities built on top of standard Epicor Financials functionality in any application program where required
  • CSFs contain finance-related features such as accounting, taxation, invoicing-related functionality, etc.
  • Consistent local language, look, and feel throughout the application
  • Reduced end-user training and total cost of ownership
  • Helps your organization to do business globally New releases reflect the latest schema changes in local reporting
  • Synchronized delivery on top of each new Epicor Financials release

The Avalara relationship

Avalara is a global cloud-based tax compliance and automation company that has been a market leader in tax management, providing quick and easy ways to manage sales and use taxes, achieve compliance, reduce risk, helps provide tax reporting, and streamline processes for businesses of all sizes.

Avalara has been a long-time ISV partner of Epicor. The Epicor Tax Connect product has been used by many North American customers on multiple platforms for sales tax, use tax compliance, reporting, and tax exempt certificate management.

Avalara enables a new global service on e-invoicing, now available to Epicor customers in multiple countries.

The Avalara e-invoicing solution

The Avalara E-Invoicing and Live Reporting is a SaaS, einvoicing, cross-platform solution that can simplify compliance processes for companies operating internationally.

It can be integrated into business systems via a single Application Programming Interface (API) and is designed to adhere to evolving e-invoicing and live tax reporting requirements in 60+ countries around the globe. This enables businesses to exchange e-invoices and report data in real-time via tax authorities’ platforms and other exchange networks.

The Avalara invoicing supports:

  • B2B, B2C, B2G e-invoicing
  • Real-time reporting
  • Real-time clearance
  • QR codes
  • PDF creation

What benefits do you get with Avalara E-Invoicing and Live Reporting?

The Avalara-powered solution helps you establish a robust e-invoicing process directly in Epicor Financials.

  • Seamlessly enhance your business systems - Avalara's einvoicing features integrate smoothly with your existing workflows, allowing you to work without disruption.
  • Automate finance processes - Achieve a faster, hasslefree, more accurate invoicing.
  • Save costs and simplify maintenance -Optfor a single integrated e-invoicing solution to reduce expenses related to deployment, administration, and ongoing maintenance, instead of dealing with multiple separate systems.
  • Stay compliant - Avalara monitors the frequently changing legal requirements and keeps the solution compliant with local legislations.
  • Effortlessly expand into new markets - Avalara consistently updates its global solution to accommodate new country mandates, making it convenient for you to swiftly implement e-invoicing in other markets.

Availability

The Avalara E-Invoicing and Live Reporting solution is only available in Saudi Arabia, Australia, and New Zealand.

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