Business process automation: GXS and OB10 seek to simplify EU and country-specific invoicing regulations
By Manufacturing Business Technology Staff -- Manufacturing Business Technology, 2/28/2008 10:13:00 PM
Compounded by country-specific requirements, disparate languages, and currency differences, the e-invoicing process in Europe is highly complex, but regulations ensure that invoices are appropriately processed and properly stored for future access. A new agreement between B2B e-commerce vendor GXS and e-invoicing specialist OB10 will help companies become compliant with global regulations without undertaking a costly and time-consuming compliance process themselves.
OB10's tax compliant e-invoicing solution will be made available as a component of the GXS Invoice Delivery Service (IDS). Leveraging GXS Trading Grid, the combined efforts of the two companies will facilitate achieving true global business process automation.
Both companies share a common vision to deliver solutions that automate supply chain processes and complement companies' investments in ERP systems while ensuring high-quality information flows throughout the extended supply chain.
GXS enables businesses to send or receive invoices and other electronic documents without having to agree on formats, file specifications, or communication methods to increase effectiveness of the invoice-to-pay process. Leveraging the OB10 service through GXS, customers can conduct e-invoicing that is compliant with international taxation regulations in 24 countries on four continents, including in North America, Europe, Asia and Australia.
For example, the EU DIRECTIVE 2001/115/EC, which governs the e-invoicing process in Europe, requires any company invoicing companies in the EU to comply with specific e-invoicing standards, which include definitions of the types of data that invoices must include, and storage requirements for auditing purposes.
"Global e-invoicing has been a mainstay of GXS' value proposition to customers. By partnering with OB10, GXS is enabling customers to easily adjust to changing regulatory environments while also bringing them one step closer to global business process automation," says Bobby Patrick, senior VP, GXS.
