Outsourcing package for data exchange with tax authorities strengthens resilience of global players
Singapore, November, 2nd, 2022 – Global legal and tax requirements in the business-to-government sector are increasing significantly. In addition, official regulations are constantly changing, with sometimes far-reaching system and process changes. This is why cbs has developed the E-Invoice World Cloud, which handles the complex data exchange with the tax authorities for industrial companies.
The solution has nearly processed 8 million transactions to date. Almost 300,000 messages are now processed by cbs each month. More and more well-known customers are using the all-in-one carefree package; there are now more than 450 legal entities at more than 100 companies worldwide. And this number continues to grow. The cloud solution has a unique selling point in the SAP market.
“Industrial customers highly value the holistic concept. They can handle every country-specific future requirement via the cbs cloud solution. This frees up resources, while customers can focus on other issues,” explains Oliver Villwock, Consulting Director at cbs. In addition, the cbs package is also S/4HANA-ready – giving planning security to many customers who are now about to switch to the new SAP world. The solution is hosted in an ISO 27001-certified data centre in Germany.
The E-Invoice World Cloud covers more than 25 countries. Companies from a wide range of industries in Central and South America (Mexico, Argentina, Brazil, Chile and Colombia). This solution is now used in Asia (India and Vietnam) and in Europe (Denmark, Germany, Finland, Italy, Norway, Portugal, Poland, Romania, Sweden, Serbia, Spain, Great Britain, Hungary, Romania, and Turkey).
Soon there will also be an offer for Australia, Bulgaria, China, Japan and Slovenia. In Europe in particular, the legal requirements within the framework of EU regulations are increasing more and more – the cbs Cloud provides suitable solutions for this. The legal requirements have a deep impact on the process world of customers and have long since ceased to be a pure EDI/middleware issue.
Managing short-term challenges successfully
In addition, other challenges and external factors currently need to be resolved: Ongoing pandemics, the climate crisis, political upheavals and their impact on the economy, global migration, increasing bottlenecks in the supply chain, cyber-attacks and the demand for sustainability. Because these factors are changing the business, the supply chains, the collaboration and thus also the process world. The challenge is to embrace these changes in business and in terms of new technologies and innovations.
“The E-invoice World Cloud covers all four key areas of electronic compliance requirements for global enterprises: Complexity reduction, automation, cost reduction and external monitoring. No matter what happens tomorrow, whether in Spain, Turkey, the Czech Republic, Chile or Mexico, no matter what external influences come and affect daily business, with E-Invoice World Cloud, industrial companies are properly positioned, can adequately meet short-term challenges and can fulfil all necessary compliance requirements. This strengthens their resilience and thus also increases their competitiveness,” explains e-invoicing expert Villwock.