Latest news with #digitalization
Associated Press
a day ago
- Business
- Associated Press
Wolters Kluwer Releases Annual Advisory Barometer 2025: Study Finds Majority of Advisors Urge SMEs in Spain to Prepare for Invoicing Reform
BARCELONA, Spain--(BUSINESS WIRE)--Jul 1, 2025-- Wolters Kluwer Tax & Accounting Spain has released the fourth edition of its annual Advisory Barometer, a report firmly established as a key reference for understanding both the current landscape and future direction of the tax and accounting and labor sector in Spain. The latest edition explores key themes such as digitalization, technological transformation, and the sector's shift toward a more consultative business model, while offering an in-depth analysis of ongoing regulatory changes—particularly those impacting invoicing—and their implications for professional firms. 'The Advisory Barometer 2025 once again puts on the table the most immediate challenges for professional firms, starting with the regulatory changes in the area of invoicing, which will have a profound impact on companies and will require them to accelerate their digitalization,' said Tomàs Font, Vice President & General Manager at Wolters Kluwer Tax & Accounting Europe South Region. 'Almost two thirds of advisors are already actively advising their clients to anticipate these changes, which is evidence that the sector is accompanying companies in adapting to this important transformation of invoicing processes. Our hope is that the findings of this fourth edition of the Advisory Barometer will serve as a guide and enable professional firms to make informed decisions to successfully meet the challenges that lie ahead for this industry.' Among the key findings, 63% of advisors are actively recommending that small and midsize enterprises (SMEs) anticipate upcoming legal changes in invoicing, yet 55% believe these businesses are not adequately prepared. The study highlights the urgency of adapting to the imminent implementation of the Regulation on Computerized Invoicing Systems and the forthcoming Regulation on Electronic Invoicing. Key Insights from the 2025 Advisory Barometer: For more information or to download the report (in Spanish) please visit: About Wolters Kluwer Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services. Wolters Kluwer reported 2024 annual revenues of €5.9 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 21,600 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands. For more information, visit and follow us on LinkedIn, Facebook, YouTube and Instagram. View source version on CONTACT: Media Contacts Shannon Wherry Associate Director, External Communications Wolters Kluwer Tax & Accounting Office: +1 972-209-2767 [email protected]ó Romero Communications Manager Wolters Kluwer Tax & Accounting Europe South Region 608 85 18 42 [email protected] KEYWORD: SPAIN EUROPE INDUSTRY KEYWORD: SOFTWARE FINANCE DATA MANAGEMENT ACCOUNTING PROFESSIONAL SERVICES TECHNOLOGY FINTECH BUSINESS SOURCE: Wolters Kluwer Copyright Business Wire 2025. PUB: 07/01/2025 04:30 AM/DISC: 07/01/2025 04:30 AM
Zawya
6 days ago
- Business
- Zawya
Qatari-Russian cooperation to promote digitalization, e-invoicing in tax systems
Doha, Qatar: As part of efforts to enhance international cooperation and exchange expertise in tax practices, the General Tax Authority (GTA) organized a joint workshop with the Federal Tax Service of Russia at the GTA headquarters in Doha. A statement by GTA on Wednesday indicated that the workshop focused on enhancing collaboration in key areas such as digitalization, the e-invoicing project, and improving the overall efficiency of tax performance. Senior officials and technical experts from both sides participated in the event. During the main discussion session, both parties explored areas of cooperation, including the scope and outcomes of an ongoing technical assistance project. This initiative supports the GTA's digital transformation strategy and aims to develop its systems into an integrated hub for financial and tax information. The joint workshop provided a platform to exchange best practices in the digitalization of tax systems, aligning with broader efforts to build a modern, technology-driven tax administration. The agenda featured a series of technical presentations and expert-led discussions, with a particular focus on Russia's experience in value-added tax reform and digital innovation. The workshop also included presentations covering strategies for expanding the use of electronic documentation, addressing associated technical and regulatory challenges, and assessing the potential impact of future tax policies on innovation and economic growth. Participants emphasized at the conclusion of the workshop the importance of continued technical cooperation and knowledge exchange to strengthen the resilience of tax systems in both countries and better equip them to respond to future challenges, ultimately contributing to the broader goals of sustainable development. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
Arabian Business
25-06-2025
- Business
- Arabian Business
Borouge and Honeywell to build AI-driven control room at Al Ruwais
Borouge, UAE's leading petrochemicals company, is collaborating with Charlotte, NC-based Honeywell to deliver the first AI-driven control room for a petrochemicals company that is designed for full-scale, real-time operation. The two companies will deploy a proof-of-concept technology to enhance Borouge's operations across its Ruwais facilities in the UAE. They will bring their expertise in process technology and autonomous control capabilities to identify new opportunities to deploy Agentic AI solutions and advanced machine learning algorithms. Strategic tech alliance with Honeywell The project is a key part of Borouge's AI, Digitalisation and Technology (AIDT) programme, which is projected to generate US$575 million in value this year. In 2024, the company's diverse portfolio of over 200 AIDT initiatives – spanning operations, health and safety, sales, sustainability, and product innovation – generated US$573 million in value. Hazeem Sultan Al Suwaidi, Chief Executive Officer of Borouge, commented: 'Borouge's AI, Digitalisation, and Technology transformation programme is setting new standards in operations, innovation and business performance. By collaborating with global AI leaders such as Honeywell, we are accelerating growth, driving efficiency, and enhancing shareholder value. This project further strengthens Borouge's competitive edge as we continue to deliver on our ambitious AIDT roadmap.' George Bou Mitri, President of Honeywell Industrial Automation in the region, added: 'Our collaboration with Borouge is a clear example of how joint efforts can accelerate innovation across industry. By integrating AI and automation technologies into core operations, we are helping unlock new levels of efficiency, safety, and performance. This agreement shows how advanced technologies, applied with purpose, can reshape industrial operations at scale.' Autonomous operations will enable Borouge to optimise production, reduce energy use, and enhance safety while reducing costs at what will be the single largest petrochemical site in the world. Founded in 1998 through a strategic partnership between ADNOC and Borealis, Borouge operates a polyolefins complex in Al Ruwais Industrial City, which is one of the world's largest integrated polyolefin complexes. ADNOC owns a majority 54 per cent stake in the company.
Forbes
24-06-2025
- Business
- Forbes
Manufacturing At The Speed Of Influencers
Since 1999, Bill Rokos has spearheaded the development of Parsec's manufacturing operations management (MOM) platform, TrakSYS. It happened in the blink of an eye—so fast you might have missed it. All of a sudden, out of the woodwork, came … Crocs. After over a decade of being relegated as yet another bygone trend of the aughts, the decidedly uncool shoes were unironically hotter than ever. It started, like so many trends do, on social media. Momentum built precipitously over a few days after several celebrities were seen wearing the foam clogs during the pandemic. From there, it was off to the races. Since the brand's resurgence, Crocs has been pumping out product like never before, their global manufacturing facilities firing on all cylinders to keep up with sky-high demand. But this is by no means the only example of influencer-led product booms. Stanley's insulated tumblers became the vessel of choice for every "hydration girly" on social media in the early 2020s. King Arthur Baking experienced a boom as homebound amateur bakers took to TikTok with recipes for banana bread and sourdough starters. As of this writing, Lamb Chop—yes, that Lamb Chop—has gone viral as the hottest dog toy in America. These product booms happen at a clip made possible only by the internet—and manufacturers can respond to this demand thanks to the industry's rapid march toward digitalization. The question is: Would your facility be ready for a product to become the next TikTok sensation? When the @s start rolling in, would you rise to the occasion and meet the moment, or would your facilities fall flat under the pressure? The call is coming from inside the app. When a product goes viral, manufacturers need to do more—and quickly. The volume of customer orders skyrockets, applying pressure up and down the supply chain. Manufacturers likely can't physically speed up production (and even if they could, it may not be safe or prudent), but they might consider redistributing production lines to allocate more resources toward the viral product. To keep up with the new level of demand, manufacturers will need a rapid influx of raw materials and ingredients. Supplier relationships will matter more than ever, and backup suppliers may make all the difference between a moment met and a moment squandered. With production reaching new heights, quality control will become harder to manage and more important. The last thing you need is for the entire world to turn its eyes to your product, only for substandard production and unforced errors to tarnish your newfound popularity. You can't get sloppy. Of course, it's not enough to simply manufacture the product; it has to go somewhere, too. Logistics and distribution will feel the strain. More orders mean more packaging, more label printing, less warehouse space and busier distribution networks. To heed the people's call, manufacturers will need to amp up production quickly, but not hastily. Remaining calm under pressure is an absolute must here. However, success doesn't ride solely on your ability to be chill; technology can help in a big way, too. You can do more than play the waiting game. Knowing what to expect ahead of time is helpful, but what can manufacturers do today to prepare them for their moment in the sun? At the risk of oversimplifying, shore up your production. • Identify and address bottlenecks, especially if they seem to occur in the same area of production consistently. • Optimize your inventory management and traceability. Make sure you can pinpoint every item entering and exiting your facility. • Formalize your quality control and assurance practices. • Make sure you have a good rapport with your suppliers. You'll need their support more than ever if you experience a sudden jump in demand. • Ensure your ability to meet audit and regulatory requirements is iron-clad. • Embrace technology like automation, ML and IIoT. Depending on the facility, this may be a sizeable undertaking. Connected platforms like manufacturing execution systems (MES) and enterprise resource planning (ERP) solutions can help simplify this process. Your teams will need support amid these changes. Get them up to date on any training or continuing education that may help them perform their duties. Look for ways to upskill them and augment their knowledge of your facility. Make it clear how much they are valued; they are the business' lifeblood, and you certainly couldn't withstand a tidal wave without them. Broadly speaking, you want your entire organization—across all departments—to be operating as efficiently as possible. Your true north should be digitalization and Industry 4.0. Getting there will position your facility well to adapt to anything that might come your way. Not everyone can be Lamb Chop, but there's no harm in trying. Of course, not everyone will go viral. Sometimes you manufacture a stuffed animal that only some dogs go mega-crazy for. Or a lot of dogs go only medium-crazy for. That's okay, too. There's no downside to attaining new levels of efficiency and optimization. But on the off chance that the spotlight suddenly shines on you, you'll be prepared. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
Associated Press
23-06-2025
- Business
- Associated Press
Eaton's 'Factories as a Grid' Approach Helps Manufacturing Companies Advance Energy Security for More Affordable, Resilient Power
CLEVELAND, June 23, 2025 /3BL/ - Electricity is the backbone of modern industrial operations and digitalization provides new opportunities to optimize energy systems. Intelligent power management company Eaton is empowering customers to put electrification and digitalization to work in new ways with its Factories as a Grid approach that maximizes the functionality of existing energy systems along with renewable energy resources to achieve greater levels of energy resilience, affordability and efficiency. The strategy builds on Eaton's Everything as a Grid perspective that provides customers with more energy choices and enables a flexible foundation to secure reliable and resilient power. Adopting this Factories as a Grid approach can help manufacturers simplify the electrification of critical processes while simultaneously improving energy efficiency, ensuring a constant supply uninterrupted power and reducing operational costs by producing and consuming electrical power more intelligently. 'There are multiple global megatrends at play impacting manufacturing. Everything is electrifying and extreme weather events are becoming more common,' said Marc Elliott, director – mining, metals, minerals, pulp and paper at Eaton. 'Solving these challenges requires integrated solutions that transform electrical systems from simple loads on the grid into intelligent business assets that assure energy security. At Eaton, we're leveraging our expertise and industry-leading solutions to help our customers make that happen.' The strategy hinges on the scaled implementation of intelligent power management solutions to manage the new demands of electrified processes. By taking a holistic view of energy needs and infrastructure, Eaton can help customers intelligently balance energy production and consumption to achieve operational goals, including: microgrid technologyenergy storageBrightlayer portfolioelectric fleet Eaton is demonstrating its Factories as a Grid approach at its Arecibo, Puerto Rico manufacturing facility, which produces circuit breakers for homes, buildings and industrial applications. This first-of-its-kind project integrates onsite solar generation, energy storage and intelligent digital solutions into a microgrid that is cutting operational costs, energy consumption and emissions. Matt Hockman, president of Global Energy Infrastructure Solutions at Eaton, will highlight the Factories as a Grid approach during a keynote address focused on innovative approaches to meet growing energy demand during the Reuters Global Energy Transition 2025 event in New York City on June 25. Learn more about how Eaton is helping build the factories of the future. Eaton is an intelligent power management company dedicated to protecting the environment and improving the quality of life for people everywhere. We make products for the data center, utility, industrial, commercial, machine building, residential, aerospace and mobility markets. We are guided by our commitment to do business right, to operate sustainably and to help our customers manage power ─ today and well into the future. By capitalizing on the global growth trends of electrification and digitalization, we're helping to solve the world's most urgent power management challenges and building a more sustainable society for people today and generations to come. Founded in 1911, Eaton has continuously evolved to meet the changing and expanding needs of our stakeholders. With revenues of nearly $25 billion in 2024, the company serves customers in more than 160 countries. For more information, visit Follow us on LinkedIn. Contact: Kristin Somers+1.919.345.3714 [email protected] Regina Parundik Cobblestone Communications+1.412.559.1614 [email protected] ### Visit 3BL Media to see more multimedia and stories from Eaton Corporation
