Once again, Taulia is a proud sponsor of the Exchange Summit, kicking off this coming Sunday in Barcelona. Exchange Summit is a re-invention of the annual EXPP conference with supplier finance at the top of the agenda.
Personally, I am particularly interested in seeing how many e-invoicing providers are now including supplier finance as part of their offerings. Many of our competitors are now playing catch-up and changing course toward financing the supply chain. Our US White House ‘Supplier Pay’ initiative and our UK ‘What If?’ initiative in collaboration with the Association of Certified Chartered Accountants, the Institute of Credit Management and the Chartered Institute of Purchasing and Supply, have both prompted a recognition of the true value of e-invoicing – that it enables prompt and early payment for suppliers while optimising working capital for buyers.
Another topic that you will find interesting is invoice tracking. We are well aware of the value of the ‘data within the data’, which is why we recently launched our Taulia Analytics solution - an easy-to-use cloud-based reporting and analytics tool. With built-in information dashboards for accounts payable, treasury and procurement, Taulia Analytics can monitor supply chain activities and help meet compliance and government reporting requirements, such as Sarbanes-Oxley. Transaction data can also be shared with external reporting applications, data warehouse and Business Intelligence systems as part of corporate Big-Data strategies.
Big Data also ties in with a subject I have taken a lead in for some time now: the creation of Real-Time Economies. The monitoring and collection of VAT in real-time is a reality in Latin America where ‘grey economies’ are a real issue. These Government e-invoicing systems have attracted interest globally, and in Europe we are beginning to see the creation of similar systems. What are the implications for your company as Governments bring in new systems and legislation?
The inclusion of e-invoicing within public procurement has received a lot of focus this year. Along with many other members of the current European Commission multi-stakeholder forum, I endorsed this new directive and the creation of a new ‘semantic’ data standard. Many countries in Europe are now moving their public sector entities toward electronic invoicing. I am sure this will be a much discussed subject as mandatory acceptance of e-invoices by the EU public sectors will generate large-scale adoption across Europe.
If you would like to discuss how your company can pay suppliers on-time, or early, ensuring a financially healthy supply chain, while optimising your own working capital, or if you would like to see how e-invoicing, workflow and supplier finance actually works then come and meet us.