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🧾 🔐 🛜 𝐓𝐢𝐜𝐤 𝐭𝐨𝐜𝐤… 𝐩𝐮𝐬𝐡 𝐭𝐡𝐞 𝐛𝐮𝐭𝐭𝐨𝐧 𝐧𝐨𝐰 𝐭𝐨 𝐮𝐧𝐥𝐞𝐚𝐬𝐡 𝐭𝐡𝐞 𝐄-𝐈𝐧𝐯𝐨𝐢𝐜𝐢𝐧𝐠 𝐦𝐚𝐠𝐢𝐜 🛜 🔐🧾 Starting from 2025 onwards, electronic invoices will be mandatory in certain EU markets for B2B transactions. The initiative introduces an electronic reporting system to simplify the exchange and processing of structured invoicing data sets. How to tackle this challenge, particularly as a Small or Medium-sized Enterprise (#SME)? ⛓️𝐓𝐞𝐜𝐡𝐧𝐢𝐜𝐚𝐥 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬 & 𝐈𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐢𝐨𝐧: Companies need to adapt their systems and ensure compatibility with the chosen transmission method. Seamless integration into existing processes through designated APIs and standardized data formats is crucial. 📊 𝐓𝐫𝐚𝐧𝐬𝐦𝐢𝐬𝐬𝐢𝐨𝐧 & 𝐏𝐫𝐨𝐜𝐞𝐬𝐬𝐢𝐧𝐠: Companies must in a first phase of the roll-out be able to electronically receive data and later transmit / report it by registering to the invoice receipt platform. Different options for exchanging data sets are available, such as using a designated web platform, uploading data directly, leveraging certified provider networks or sending secured emails. 🪢 𝐏𝐨𝐬𝐭-𝐓𝐫𝐚𝐧𝐬𝐦𝐢𝐬𝐬𝐢𝐨𝐧 & 𝐓𝐫𝐚𝐜𝐤𝐢𝐧𝐠: After the successful transmission, a unique identifier is assigned to track the path of the invoice. It is ensured that all required fields are filled out and the system automatically forwards the invoice to the relevant recipient. 🔑 𝐃𝐚𝐭𝐚 𝐏𝐫𝐢𝐯𝐚𝐜𝐲 & 𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐲: Compliance with data protection regulations (#GDPR) is essential. Secure transmission channels must be used effectively and necessary measures to protect data transfers have to be implemented. Next to legal compliance, e-invoicing leads to cost savings, efficiency of systems, transparency of processes, accuracy by using structured formats and sustainability of activities. InnoTWOnity is the right partner to properly prepare and implement the optimal e-invoicing approach in collaboration with your tax advisors. Furthermore, your team will be familiarized with adjustments to essential workflows in their day-to-day operations to tackle complexities. For more information about InnoTWOnity, please see the website: www.innotwonity.com #Standardization #Automation #Digitalization #DataExchange #OperationalExcellence #Sustainability Photo credit: amgun