Businesses are striving to continuously improve their processes, aiming for ongoing automation and to become paperless.
Electronic Data Interchange (EDI) is on the rise and steadily replaces antiquated business structures.
Electronic incoiving is the exchange of an invoice document for an executed service or delivered goods between a supplier (issuing party) and a buyer (receiving party).
The traditional paper based way of invoicing is not only time consuming but also prone to human error and can therefore lead to extra costs on the invoice receiver side.
Issue your e-invoice to customers with myinv and take advantage of early payment discounts.
Providing invoice data digitally has fundamental benefits for both the business sector and public administration: quicker and more efficient work processes, fewer late payments as well as lower printing and postage costs. This in turn reduces errors and improves transparency, while the procedural steps involved in processing invoices are made quicker overall. ZUGFeRD 1.0 is designed to achieve these objectives, most notably for those parties which only issue a small number of invoices to one partner each year or for parties which sometimes or even exclusively deal with partners without a regular business relationship. To achieve this aim, electronic invoices should be just as easy to send and receive as paper invoices.
The vast majority of e-invoices are issued as XML.
Using PDF and XML
The original XML is transformed into a new XML which is readable by the buyer´s ERP.
In collaboration with FeRD, various partners from the private and administrative sector have developed a data format called ZUGFeRD. The ZUGFeRD approach builds on a combination of PDF with integrated structured data. It is based on a core invoice, which leads to easy implementation. Basic idea of ZUGFeRD is that everybody should be able to exchange electronic invoices without consultation or agreement in advance. The ZUGFeRD data format for electronic invoices is available for free in its version 1.0.
Ready to start your next project with us? Send us an email and we will get back to you as soon as possible!