Retarus Press Release
E-invoicing: Retarus Business Integration Platform Enables Digitalization in Accordance with National Requirements
Processes for billing authorities face major reforms across Europe
Madrid, 25/02/2021 // The electronic invoice (e-invoice) is fast becoming the only accepted standard for B2G invoice communication in Europe, whether in the form of the PEPPOL standard, XRechnung in Germany or FatturaPA in Italy. With Retarus Business Integration Platform, companies are implementing future-proof invoicing processes in accordance with country-specific requirements – efficiently and sustainably.
An ever-increasing number of countries in Europe are seeking to broaden the duty for companies to report VAT-relevant data, with the assistance of e-invoicing and clearance processes. Hungary has recently stepped up its regulations substantially for the mandatory reporting of electronic invoices in real-time. As of January 2021, companies are now required to declare all invoices issued to companies liable for tax in Hungary as well as private persons electronically to the National Tax and Customs Administration. Furthermore, all invoices for companies both within and outside of the EU have to be reported. The aim is to promote the digital transformation of the administration, while also curbing tax fraud.
On the other hand, businesses are now faced with such complex requirements in switching over to electronic billing processes, that their existing systems and infrastructure are often stretched to their limits and beyond. Especially regarding EDI formats the means of transmission, the connection with the interfaces provided by government, and the legal requirements for the contents of documents and their archiving mean that each country has special requirements that need to be taken into consideration.
The more international a company is, the more complex and extensive the national laws for e-invoicing in the respective countries become. With the Retarus Business Integration Platform, companies fulfill just about every single country-specific requirement that e-invoicing in the B2B, B2G and B2C sectors might entail. All data is securely and reliably transmitted straight from the ERP system to the chosen recipient in the prescribed structured format under dynamic conditions, for instance – in Hungary – using a continually updated XML wrapper.
If required, Retarus can also verify all relevant data in advance. This significantly reduces the time and effort spent on correction cycles. The high-performance cloud services scale flexibly and can easily be adapted on the global level to meet new requirements stemming from international expansion or the introduction of new laws. In addition, Retarus fulfills national and international compliance requirements and standards such as XRechnung, Chorus Pro and FatturaPA.
As a Certified PEPPOL Access Point, it also enables companies to transmit electronic invoices effortlessly and smoothly to public-sector institutions throughout Europe. Retarus’ audit-friendly data centers guarantee the highest degrees of transparency with regard to security, process reliability and compliance. On request, the cloud service provider also offers a convenient, legally compliant long-term archiving service for digital invoices.
EDI Consulting Services crucial for success of projects
Processes for issuing electronic invoices are becoming ever more challenging from the technical perspective and have to be tailored to meet the specific requirements resulting from the company’s size, location and sector. As an international provider of cloud services with over 20 years of experience in the implementation of comprehensive EDI projects, Retarus offers its customers highly professional support in meeting this challenge.
“Before getting started on the project, many companies are not aware how many technical and content-related requirements need to be taken into account. Often, internal processes as well as the content and format of documents first need to be adapted to meet country-specific requirements, before the existing billing processes can be implemented in line with the regulations,” explains Kai Pang, Senior Product Marketing Manager at Retarus. “Starting with the analysis of their existing processes, our EDI consultants who possess many years of technical and process-related experience are on hand to advise companies during their transition to e-invoicing. They point out potential challenges for the integration at an early stage and, together with the customer, implement new or optimized e-invoicing solutions while taking any special requirements into account.”
About Retarus
Retarus is a global provider of API