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Today I was speaking with a Fortune 100 company who was looking at their Inbound Validation processes and trying to decide whether automation would be required. My answer was a resounding yes, but more often than not – I see multinationals doing the inbound validation of supplier and business partner XML through manual processes. I think it is important to understand the risks as well as the consequences on your business operations by not automating. So here are the common issues when approaching Inbound Validations in Latin America:
First, it is important to understand that in many Latin America countries – Inbound Validation of the XML is not an option, it is required. The process is required in Brazil for both Goods and Transportation documents called CTe. As of December 2012, the same holds true for Mexico. And with Chile mandating the usage of electronic invoicing as of November 1, 2014 – inbound validations will be required as well.
So here are some considerations when looking at the inbound process.
So as you look at the Account Payable process, remember it is more than just the cost of your AP staff – there are extension and affects into all parts of your business because of the Latin America process. So I always recommend automation – remember that the government imposed the legislation – you might as well get all the operational cost savings that the process allows. It doesn’t just have to be about what you have to do, it should be more about what you should do.
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Scott Dawson CEO at DECTA
08 May
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07 May
Yuliya Barabash Managing Partner at SBSB Fintech Lawyers
06 May
Anastasiia Kazakova Fintech Project Manager at Uptech
05 May
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