While e-invoicing is by no means the norm in all corners of the globe, today’s businesses can ill-afford a myopic view, whether or not they face mandates for adoption across all jurisdictions in which they operate. The growing shift in standardizing data and making it transparent is here to stay, and like a stack of cards, companies will eventually need to fall in line with e-invoicing requirements by governments.
Before e-invoicing implementation can occur, companies should look at internal operations, and ensure close collaboration across any and all departments that touch data elements including who is responsible for data in the first place, what systems store it, what processes maintain it, and what different systems is the data fed into, until it reaches the invoice stage.
Answering these questions requires a thorough understanding of who does what within your organization, the different layers and stakeholders who impact data accuracy and standardization.
How KPMG can help ?
- Consult clients on statutory requirements on e-invoice mechanism
- Analyze clients’ IT systems and operational models regarding invoice management process
- Develop and configure e-invoice system based on designed solutions/demands requested by clients and recommended by KPMG
- Conduct integration between e-invoice system with clients’ systems
- Support clients on e-invoice system operations after Go-live
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