Monday, March 9, 2009

e-Invoicing Requirements for Mexico

Crossgate and SAP are collaborating to help customers meet new Mexican government regulations by providing an integrated e-invoicing service that is certified by the Servicio de Administracion Tributaria (SAT).

In May 2009 the Mexican government will change the way companies can send paper invoices to customers. Current regulations allow paper invoicing using government-issued invoices or customer-generated invoices. But with the new regulations, instead of being able to print their own invoices, companies using paper invoicing will now be required to obtain pre-printed invoice forms certified by the Servicio de Administracion Tributaria (SAT) or adopt a solution to send digitally signed invoices electronically to domestic and international customers.

Crossgate's electronic invoicing solution can help companies meet these changing requirements while helping them streamline their financial supply chains. Manually sending paper invoices is slow and expensive, and processes are not integrated among business partners. These problems result in inefficient financial supply chains with large amounts of aging and uncollected receivables. So for organizations that are still using paper invoicing, the upcoming regulatory changes will actually be beneficial rather than restrictive.

By improving cash management processes and reducing days sales outstanding (DSO) through e-invoicing, companies have more cash available to repurchase stock, expand business operations, and reduce debt, all of which have a positive effect on stock price. The benefits of e-invoicing also spread to community markets, contributing to Crossgate's green supply chain initiative to save paper and help the environment.

Crossgate's e-invoicing service supports the SAP NetWeaver(R) technology platform, providing seamless integration and easy expansion to other processes. By replacing paper invoices with electronic data exchange, companies can realize huge savings in time and staffing expenses. And companies that have been printing their own invoices will not be faced with the cost of purchasing invoices from the SAT.

For companies that are already using electronic invoicing, the Crossgate solution can make it easy for them to ensure compliance with the new regulations. The new rules for e-invoicing will require issuers to use the Firma Electronica Avanzada (FIEL), an advanced electronic signature authorized by the SAT. Crossgate provides an on-demand service that uses the FIEL and meets the technical specifications and standards determined by the SAT. The specific information that must be contained in each invoice will already be configured, and monthly reports will be provided to the SAT as required by the new regulations.

Regulatory compliance efforts are often seen as being time-consuming and difficult, but Crossgate's e-invoicing solution will make it easy for organizations with customers in Mexico to transition to an invoicing process that complies with the new government standards.

Please email me if you would like more information on these e-Invoicing rules and requirements.

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