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I had an interesting conversation, concerning Latin America eInvoicing, with a CFO for a Fortune 500 multi-national yesterday. And this time, the conversation was not about the legislation that I typically write about or discuss. This time it was about the risks associated with using non-integrated, local vendors to manage eInvoice compliance. Here were the key take-aways from that conversation that should be discussed with your global procurement and legal organizations before contracting with a vendor. There are always underlying issues that go beyond technical requirements.
In summary, Latin America eInvoicing is mission critical and affects your global financial processes and SAP deployments. Make sure you understand the effect working with non-integrated 3rd party solutions will have on your business. Otherwise, the lack of control due to language issues, data quality, an additional system of record outside of ERP, and support challenges could affect your financial reporting.
Take Away: multi-nationals should look for enterprise class solutions that are tightly integrated to the ERP system. The process is difficult enough to implement, monitor, and maintain -- let alone having to do that with 3 systems: your ERP, a middleware connectivity layer, and a standalone compliance box.
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Victor Irechukwu Head, Engineering at OnePipe Services Limited
29 November
Nkahiseng Ralepeli VP of Product: Digital Assets at Absa Bank, CIB.
Valeriya Kushchuk Digital Marketing Manager at Narvi Payments
28 November
Alex Kreger Founder & CEO at UXDA
27 November
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