TALKING BUSINESS
Name the most
important issues to
discuss with an IT
provider in the light of
VAT implementation in
the GCC
Now is the right time for GCC
businesses to assess technological
capabilities of existing IT solutions
and implement new enterprise
software to get ready for VAT
implementation. When it comes
to the e-invoicing technology,
GCC companies should look for
e-invoice providers offering a
wide spectrum of e-invoicing
technologies legally compliant
with the new VAT regulations.
These days, the most widespread
technological solutions include:
- EDI Invoice Suite (Electronic Data
Interchange),
- PKI Invoice Suite (Public Key
Infrastructure).
The selection of e-invoicing
technology is conditioned by the
volume of invoices handled by
a given trading company. EDI
invoicing is recommended to
companies with a large volume
of invoices (both issuers and
recipients), while PKI invoicing is
suitable for companies with a big
total number of invoice recipients
but rather a small volume of
invoices per a single recipient.
Software integration is another
crucial matter. System integration
with accounting solutions or ERP
is essential in order to achieve
100% automation, when no
manual workload is required. By
establishing cooperation with an
IT provider who can deliver built-in
integration engines, invoices are
captured from and delivered to
the financial system in the fully
automated manner.
In order to increase the data
accuracy, it is important to opt
for solutions with a multi-level
validation engine, where all
electronic invoices are validated
in terms of: size, e-signature,
master data, content, EAN code
among others.
Certain lead time is needed
to technologically prepare for
VAT introduction, yet properly
planned and conducted VAT
implementation will result in
full VAT compliance as well as
business process automation
achieved, owing to enterprise
solutions such as e-invoicing suite
or e-archive suite. ¢
Lukasz Spirała
Business Development
Manager at Infinite IT
Solutions responsible
for implementations of
enterprise solutions at
trading companies of
various industries across
the GCC region. Member
of the Middle East Council
of Shopping Centres
(MECSC).
[email protected]
ABOUT INFINITE IT SOLUTIONS
Infinite has designed and developed IT solutions which automate and enhance key business processes since
2002. The systems are deployed in various industries, including: FMCG, automotive industry, heavy industry, DIY
and SHE.
IT tools offered by Infinite have been successfully deployed in over 5 000 companies in Poland as well as
abroad. The company systematically strengthens its position as the B2B systems provider on numerous
international markets. Infinite systems operate, among others, in Germany, Croatia, Spain, Romania, Hungary,
Slovakia and the UAE.
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