New cloud solution for government communications wins award in “Digital Solutions” category
E-compliance is an ongoing issue for many global industrial companies. It is about much more than just e-invoicing, i.e. creating paperless invoices. It’s about reporting the movement of goods, the flow of payments, and the reporting of various balances to tax authorities. Today, we are no longer talking about the digital exchange of invoices between two business partners. Rather, we are talking about the requirements of authorities for the transmission of information from business processes. And these are very complex and vary greatly from country to country. In fact, the topic should be defined more broadly and called “electronic communication with public authorities”.
The Romanian authorities (Agentia Nationale de Administrare Fiscala – ANAF) require companies operating there to report tax data, inventory movements, assets and financial transactions on a regular basis.
Until now, there was no solution for this on the market – so the cbs experts built one. The team led by Leopold Straubinger and Elena Dengler has created its own e-reporting framework and a cockpit as a new product in the E-Invoice World Cloud for Romania. The data is read from the SAP system, mapped in the cbs World Cloud and converted into a format specified by the OECD (Organization for Economic Co-operation and Development) to be processed by the authority.
With an agile mindset, an innovative NEXT ONE solution has been created for more than 15 industrial customers from a wide range of industries, which has long since been integrated into the proven E-Invoice World Cloud.
With this project, the team has now secured the award for best “Digital Solution” and is thus one of the winners of the cbs Innovation Award 2023. The E-lnvoice World Cloud covers all four key areas of electronic compliance requirements for global enterprises: Complexity reduction, automation, cost reduction and external monitoring. With the special solution, industrial companies are properly positioned, can adequately meet short-term challenges and are able to fulfill all necessary compliance requirements. This strengthens their resilience and thus also increases their competitiveness.
The cloud solution has now processed more than ten million transactions. Almost 300,000 messages per month are now processed by cbs – in numerous nations such as Brazil, Argentina, Mexico, Chile, India, Thailand, Taiwan, Spain, Italy, Bulgaria, Finland, Denmark, Hungary – and Romania.
