Latest news with #e-invoicing
Khaleej Times
4 days ago
- Business
- Khaleej Times
Suntech Group honoured as UAE's emerging invoicing innovator
In a landmark moment at UAE TaxTech 2025, Suntech Group was awarded the prestigious title of Emerging Invoicing Innovator, sharing the spotlight with the region's most transformative tax leaders, regulators, and technology pioneers. The event, held under the patronage of key government bodies, celebrated breakthrough achievements in e-invoicing, automation, and compliance intelligence — and Suntech stood tall among innovators for its bold strides in digitising high-value, high-complexity industries. As the UAE accelerates its transition to a fully digital tax regime, e-invoicing is no longer just a compliance mandate — it's a critical enabler of efficiency, transparency, and trust. The Federal Tax Authority's e-invoicing framework, based on global PEPPOL standards, is set to reshape how businesses issue, track, and report transactions. "We're honoured to receive this recognition. E-invoicing is not just a tech upgrade — it's a paradigm shift in how businesses govern, report, and grow," said Pawan Kumar, managing director at Suntech Group. "We're proud to be at the forefront of this change, bringing global-grade infrastructure and local insight to the businesses that need it most." "We see e-invoicing evolving into an intelligent layer — not just transmitting data, but validating, reconciling, and predicting,' added Tushar Gupta, executive director at Suntech Group. "The invoice of tomorrow is a business asset, not a paper trail."
Zawya
4 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. (
Yahoo
17-06-2025
- Business
- Yahoo
xSuite Introduces New Feature for E-Invoice Delivery from SAP
e-xSuite_Grafik_eDNA_880x450 The cloud-based e-invoicing platform xSuite eDNA now supports both the receipt and transmission of e-invoices directly from SAP Ahrensburg/Germany, June 17, 2025 – In many countries around the world—including Germany, Poland, and France in Europe—electronic invoicing will become mandatory within the next one to five years. To support SAP users in this transition, xSuite Group is now offering an extension to its xSuite eDNA (electronic Document Network Adapter) product. This extension enables the creation and dispatch of outbound invoices from SAP SD in XML formats compliant with EN 16931. The cloud-based e-invoicing platform supports a wide range of e-invoicing formats and serves as a central hub between SAP and the global world of electronic invoicing. It is compatible with both SAP S/4HANA and SAP ECC. Since June 2024, xSuite eDNA has supported the receipt of various e-invoicing formats via the Peppol network, transferring invoice data directly into the customer's SAP system to enable fast and efficient processing of inbound e-invoices. Now, xSuite eDNA also enables the creation and delivery of e-invoices from SAP. To achieve this, an xSuite add-on (transport) is installed in the SAP SD module. This add-on leverages SAP's message control functionality. As soon as an invoice is created in SAP, the relevant data is captured via message control and sent to the cloud-based xSuite eDNA platform. The platform performs various validation steps in accordance with EN 16931—such as checking data integrity, mandatory fields, data types, and business rules. Format conversion and all subsequent processing take place entirely in the cloud. Any updates or enhancements (e.g., new e-invoice formats or versions) are implemented centrally in the cloud and are immediately available to all customers. This significantly reduces maintenance efforts on the customer side and ensures high flexibility. xSuite eDNA offers two transmission options: via email in formats such as BIS Billing, ZUGFeRD, and XRechnung (with more formats planned), and via the Peppol network. The portfolio of supported countries and portals is being continuously expanded with a strategic focus. Currently available networks and formats include: Peppol (various countries and formats) SdI – Sistema di Interscambio / Fattura PA (Italy) ANAF – Agenția Națională de Administrare Fiscală / RO e-Factura (Romania) NAV – Nemzeti Adó- és Vámhivatal (Hungary) Others available upon request Sven Holtmann, Product Manager at xSuite, presents the new solution for sending e-invoices from SAP SD in a release webinar: Release WebinarDate: August 14, 2025Time: 3 PM – 4 PMLink: is free of charge for both customers and interested parties. About xSuite Group xSuite is a software manufacturer of applications for document-based processes and provides standardized, digital solutions worldwide that enable simple, secure, and fast work. We focus mainly on the automation of important work processes in conjunction with end-to-end document management. Our core competence lies in accounts payable (AP) automation in SAP (including e-invoicing), for leading companies worldwide, as well as for public clients. This is supplemented by applications for purchasing and order processes as well as archiving – all delivered from a single source, including both software components and services. xSuite solutions operate in the cloud or in hybrid scenarios. We take pride in the high-quality solutions we offer, as evidenced by the regular certifications we receive for our SAP solutions and deployment environments." With over 300,000 users benefitting from our solutions, xSuite processes more than 80 million documents per year in over 60 countries. Founded in 1994 and headquartered in Ahrensburg, Germany, xSuite has around 300 staff across nine locations worldwide – in Europe, Asia, and the United States. Our company has an established information security management system that is certified in accordance with ISO 27001:2022. Contact:Barbara WirtzxSuite Group GmbHMarketing & PRTel. +49 (0)4102/88 38 Attachment e-xSuite_Grafik_eDNA_880x450Sign in to access your portfolio
Khaleej Times
26-05-2025
- Business
- Khaleej Times
Navigating the digital tax era: A CFO's roadmap to indirect tax assurance
With more countries enforcing mandates for e-invoicing, real-time VAT reporting, and digital audit trails, CFOs are navigating a complex and fast-changing environment Tax is no longer a reactive task, it has evolved into a real-time, strategic function fueled by accurate and timely data. As regulations continue to shift, technology is taking center stage in how modern tax is managed. Indirect taxation is undergoing a significant shift. As economies become increasingly digital and governments move toward real-time regulatory models, indirect tax has moved from the back office to the forefront of boardroom discussions. The concept of cognitive taxation is gaining ground, leveraging AI to identify patterns, detect anomalies, and forecast tax risks in real time. With e-invoicing becoming the standard, tax data is no longer just a compliance necessity; it's now a valuable asset for business intelligence. Yet, despite these advancements, CFOs across the globe face a common challenge: how to stay compliant, control operational costs, and keep up with evolving mandates, while still ensuring financial stability. Indirect Taxation and the burden of digital tax: Navigating the new normal With more countries enforcing mandates for e-invoicing, real-time VAT reporting, and digital audit trails, CFOs are navigating a complex and fast-changing environment. These developments have drastically increased the volume, speed, and scrutiny of tax data, raising the stakes for finance teams. The CFO's Dilemma: Finance leaders must now answer: 1. Am I reporting sales compliantly across regions? 2. Am I claiming the right input tax credits, without overpayment? 3. Can I predict my tax risks and liabilities with confidence? Tax Authorities Share Similar Concerns: They ask: 1. Are taxpayers reporting sales accurately? 2. Are they availing credits as per law? 3. Can we forecast revenue gaps or detect fraud in real-time? This mutual concern for data accuracy, visibility, and predictability underscores the need for more intelligent tax systems. PEPPOL and UAE: A Case study in digital transformation The UAE is already moving forward. Its adoption of e-invoicing and commitment to the PEPPOL framework reflect a broader vision for a connected, transparent, and intelligent tax ecosystem. With the deployment of PEPPOL Access Points and SMP infrastructure, UAE businesses are expected to do more than just check compliance boxes, they need to embed digital compliance deeply into their ERP and financial systems. This marks a significant shift in how tax is viewed - not as an obligation, but as a transformational force. Platforms like Cygnet Tax are enabling businesses to streamline VAT filings, automate validations, digitize invoice processing, and stay prepared for global mandates - all through a single, unified platform. Why Manual is No Longer Manageable The cost of staying manual is steep. Businesses face: - Fragmented ERPs and inconsistent data - High operational overheads - Delayed reconciliations and errors - Compliance penalties due to missed or inaccurate filings With compliance mandates evolving rapidly, spreadsheets and siloed systems simply won't scale. Technology as a Strategic Enabler Digitisation today isn't just about compliance, it's about competitiveness. Disjointed systems lead to delays, errors, and compliance risks in tax operations. A unified tax platform centralizes processes and data, enabling faster, more reliable compliance and growth. Technologies like AI, RPA, and real-time APIs offer: - Faster, error-free reporting - Invoice fraud detection and prevention - Predictive analytics for better tax positioning - Centralised compliance dashboards across jurisdictions Toward a smarter, scalable tax strategy At we advocate a unified platform approach, one that doesn't just handle invoicing but integrates VAT processes, digital signing, compliance monitoring, audit trails, and global regulatory updates in one ecosystem. A well-implemented platform helps CFOs not only cut costs, but gain strategic insights into cash flow, tax leakage, and policy impact. With cognitive systems and PEPPOL Powered automation handling routine tax tasks, tax professionals can focus on advising business growth, managing risk, and ensuring ESG accountability. Partnering with right solution providers will be critical to be ready for such a massive change in the invoicing landscape. Here is a guide that can help you get ready with e-Invoicing implementation. What the future holds Expect tighter enforcement, real-time validations, and increased cross-border alignment. Countries will converge on standards like PEPPOL and BEPS 2.0. CFOs who act now will gain long-term agility. Global tax will only grow more digital, and companies equipped with intelligent platforms will lead this change - not follow it. Conclusion: From risk to ROI The shift to digital indirect tax is not just regulatory - it's strategic. It offers a unique opportunity for CFOs to drive transformation on a scale. The question is no longer "Is your business compliant?" The real question is "Is your business intelligent about compliance?" As we step into a future defined by data, automation, and trust, finance leaders must begin to see tax not as a burden, but as a catalyst for business advantage. Niraj Hutheesing is the founder and managing director of a global leader in tax technology and compliance automation. With over two decades of experience at the intersection of finance, technology, and regulation, Niraj is a recognised thought leader shaping the future of tax intelligence.
Yahoo
08-05-2025
- Business
- Yahoo
Vertex Inc (VERX) Q1 2025 Earnings Call Highlights: Strong Revenue Growth Amid Strategic Investments
Q : It seems that you've been highlighting more recently some larger customers who had homegrown solutions who are converting to a packaged software solution like Vertex. Can you just give us a sense, is there anything going on in terms of product or feedback from those customers, why now is the time to be migrating to a packaged software solution? A : David DeStefano, CEO: Two main factors are driving this shift. First, the growing complexity of e-invoicing mandates is pushing companies to seek more future-ready solutions. Second, increased audit pressure is making it unsustainable for companies to rely on manual efforts and point solutions. Our comprehensive suite, including e-invoicing and compliance, is prompting customers to reconsider their current setups. Vertex Inc ( NASDAQ:VERX ) announced an equity investment in Kintsugi, a startup focused on AI technology for indirect tax, which could enhance their offerings in the SMB market. Story Continues Q: The direct customers did decline sequentially. Can you help us understand, is there just some more low-end customers with like really low ARPUs that are coming out of the model there? A: John Schwab, CFO: Yes, the decline is primarily due to lower-end customers migrating away. Our focus remains on scaled customers, which grew by about 15% this quarter. The gross revenue retention remains strong at 95%, indicating our main focus is on larger, more stable customers. Q: I wanted to hit on the macro and what you're seeing out there. Really great to hear that there's no change in the buyer behavior. But just curious like from your perspective, why you think you're not seeing that macro volatility show up in the model? A: David DeStefano, CEO: Tax is becoming a higher priority in strategic discussions, especially with the rise of e-invoicing mandates. Our diverse set of wins across ecosystems and continued investment in channels, particularly with Microsoft and Azure, are helping us maintain a strong pipeline and mitigate macro volatility. Q: Could you talk about how the competitive environment in e-invoicing comparison contrast to maybe your core indirect tax market? And has there been any impacted deals as a result of ecosio not having as broad of country coverage as others in the market? A: David DeStefano, CEO: Most competitors focus solely on e-invoicing without integrating compliance, which is a core part of our offering. Our combined VAT compliance and e-invoicing solution is a significant differentiator. We have coverage in major economies and are well-positioned for upcoming mandates in France and Germany. Q: Can you discuss what you're seeing in terms of new logo growth? Anything in terms of the composition of enterprise versus mid-market would be helpful. A: David DeStefano, CEO: We saw solid growth in new logos across key ecosystems. SAP and Oracle tend to bring in scaled customers, while Microsoft Dynamics sees fewer scaled customers initially. Our strategy is to land and expand, with most wins in the enterprise market. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
