Companies must seek new opportunities in a globalized market by becoming more competitive. Making a technological leap is sometimes necessary and can result in the improved organization, quality of information, optimization of internal processes and personnel management.
Electronic invoicing is a growing trend that pushes businesses to reinvent themselves and update themselves to meet new tax compliance requirements. This new process has a global scope as it is essential to fight fraud and tax evasion while promoting transparency in all communication flows between companies. The dematerialization and automation of financial and tax processes are challenges that companies are facing daily due to the obligations imposed by governments and tax authorities in terms of checking information on invoices and declarations. Tax.
Thanks to globalization, companies have been able to experience strong economic development and reach international markets. This situation has significant advantages but also creates new problems that companies must now face. Indeed, companies can encounter a heterogeneity of financial laws and tax requirements internationally within countries from the same region. In addition, it is essential to keep in mind the variety of needs, processes and conditions that multinational companies may impose in their business relationships with increasingly diverse customers and suppliers.
All these changes lead to the modification and adaptation of processes, management systems and the organization of operations; intrinsic to business. Therefore, all companies are tending towards new organizational and internal management models, leading them towards a profound digital transformation. In this context, technology plays a central role. Change management involves the adoption and democratization of the use of new technologies, thus allowing companies to develop and evolve towards omnichannel.
Challenges For Businesses
Internationalization raises challenges for companies because they must no longer only respond to a single market but adapt to an increasingly segmented and complex economic environment.
Improvements in the collection, the fight against tax evasion, the reduction of delays and the automation of part of the control processes have been decisive elements which have favoured the adoption of real-time electronic declaration processes for VAT by the tax authorities of many countries.
Implementing such a process requires a perfect mastery of the various IT systems, the management of the different communication channels with the tax authorities, to have integrated IT solutions which allow the automation of the sending of documents and compliance with technical requirements and implementation deadlines.
By outsourcing and automating this declarative process through a single platform, a company gains flexibility and can guarantee that its information reaches the public body concerned correctly.
Carrying out a permanent regulatory watch relating to updates and implementation dates of new developments by tax authorities and public bodies at the international level is a real challenge for a large number of companies.
This is why more and more companies are looking for a partner with the ability to support them in their international tax compliance in a multitude of countries with very often heterogeneous legal requirements.
Communications security and identity theft are growing concerns for businesses today. The digital transformation and the evolution towards 100% electronic models within commercial relations have caused the need to protect the integrity, confidentiality and authenticity of the documents exchanged and archived.
In this sense, having certified technological solutions and trusted services such as electronic signature and time stamping, among others, provides you with the security and confidentiality necessary to carry out and optimize your business activities with all the legal warranties. Our international certifications allow us to provide our technological solutions with tools that guarantee the exchange of electronic messages in a secure, honest and confidential manner.
Multiple Internal Management Systems
It is common for companies to work with different internal management systems dedicated to different perimeters and different tasks. The information they manage must sometimes be centralized and compiled before being sent and processed. The analysis of information sources, the processing of data, their management, and the provision of final data to recipients are essential steps in the process that can constitute a significant difficulty for companies.
Consolidating large amounts of data requires the implementation of platforms or data integration solutions, allowing the centralization and unification of information and processes from several internal management systems. Integrating this data can automate your foremost transactions with your trading partner community. You can incorporate all your information systems into a single, centralized B2B platform, whether your partners are located nationally or internationally.