European Commission e-Invoicing expert group report

The European Commission has published the report of the expert group on e-Invoicing.

Green, CSR and e-Invoicing

Over a year ago many corporations, large and small were talking about their plans for CSR targets, carbon emission challenges and the ‘green’ agenda. A year ago that all changed with global economic crisis. There is no doubt that the environmental agenda will re-emerge and gain prominence, probably soon; I give it 3 – 6 months. So, what’s this got to do with e-Invoicing? e-Invoicing eliminates paper and the associated costs on delivery, storage and destruction.

The United Nations Centre for Trade Facilitation and Electronic Business (UN/CEFACT) has just approved the Cross Industry Invoice (CII) Version 2

UN/CEFACT has approved and released the next version of the cross industry invoice standard, details and links are here …

The European Commission still has e-Invoicing high on the agenda

The European Commission issued a further press release confirming their commitment to easing the ‘red tape’ burdens on industry and highlights the new VAT proposals with regard to electronic invoicing.

UK Postal Services go on strike

The UK postal workers are continuing to strike and have started national action. This is bad for business. Surely, now is the time for companies to look at other alternatives.

Kofax acquires 170 Systems

Kofax have acquired 170 Systems, Inc., a provider of financial process automation software.

This seems to be a good move for Kofax, giving them the opportunity to offer a more rounded solution as well as competing with Readsoft who offer similar services from their acquisition of Ebydos a few years back.

While these solutions are focussed on OCR data capture, both 170 Systems and Ebydos (Readsoft) applications are well suited to processing electronic invoices through the workflow and cockpit components.

Both management and the Board of Kofax believe the acquisition, worth $32.9 million, will position the company for leadership in the rapidly growing invoice processing market.

OB10 grows by 40% and raises capital

OB10 has concluded a rights issue at the same time as increasing sales by 40% and breaking even.
More details are available at OB10.com

The European Commission fights late payments

Electronic invoices help corporations and public sector bodies to pay their suppliers on time, invoices are delivered in minutes instead of days and they are not lost in the post. Not only are invoices delivered quicker; because the data is electronic and in many cases uploaded directly to accounts payables systems, the approval process can [...]