- E-invoicing and e-reporting have become increasingly relevant in recent years due to factors such as compliance risk and sustainability.
- The COVID-19 pandemic has accelerated the adoption of digital technologies like e-invoicing and e-reporting.
- E-invoicing involves electronically billing invoices between a supplier and a buyer, while e-reporting allows for real-time reporting on business activities.
- SAP Document and Reporting Compliance (SAP DRC) is a solution that facilitates e-invoicing and e-reporting.
- E-invoices are different from digital invoices, as they contain structured data that can be automatically processed by accounting and ERP systems.
- Many countries, including Italy, France, Spain, and Poland, have started mandating the use of e-invoicing.
- E-invoicing offers benefits such as increased productivity, reduced processing costs, and improved compliance.
- However, there are challenges associated with e-invoicing, such as legal and regulatory compliance, integration with ERP systems, and data integrity.
- SAP DRC offers features such as a holistic dashboard, digitalized reporting, and an extensibility platform.
- Integrating SAP DRC can boost operational efficiency, scale operations, and ensure compliance in the digital world.
- TJC Group is a partner that specializes in SAP DRC implementation.
- The SAP Activate methodology is used for implementing SAP DRC.
- E-invoicing resources are available for further information.
- Governments in several countries are mandating the use of e-invoicing for organizations of all sizes.
Source: tjc-group.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
