Latin American compliance is much more than electronic documentation; requirements for companies include comprehensive updates to existing systems and thorough knowledge about these changing regulations
Atlanta, GA (PRWEB) February 04, 2015
Invoiceware International, the leader in Latin American electronic invoicing and fiscal reporting, announces the expansion of its hybrid cloud solution to support financial compliance in Ecuador and Uruguay. As the only complete compliance solution supporting multiple countries throughout Latin America from a single platform, Invoiceware International enhanced its service with an integrated extension for multinational companies operating in Ecuador and Uruguay that works within their existing systems, including SAP® ERP.
Ecuador recently mandated specific taxpayers, including financial institutions and exporters, to issue and validate electronic invoices as of January 1, 2015. Further waves of companies will be required to adapt throughout 2015. Failing to comply with the Ecuador SRI’s (Servicio de Rentas Internas) e-invoicing mandates will result in companies being forced to halt operations and face significant tax penalties, as these XML will support the ability to apply for tax credits. Additionally, the introduction of e-Factura in Uruguay has led to a more complex regulatory environment, with companies now being required to submit all invoices electronically as early as July 2015.
“As the only solution to provide compliance services for multinationals across multiple countries in Latin America from a single hybrid cloud solution, we maintain our commitment to simplify complex compliance issues for our clients,” said Scott Lewin, President & CEO, Invoiceware International. “Latin American compliance is much more than electronic documentation; requirements for companies include comprehensive updates to existing systems and thorough knowledge about these changing regulations, which is why it is more critical than ever for companies to utilize a complete compliance solution.”
With more than 80,000 businesses operating on the Latin America Business Network and over 84 billion USD transacted annually, Invoiceware International continues to expand its hybrid cloud solution to meet the changing e-invoicing and fiscal reporting requirements throughout the region. As countries throughout Latin America require new business mandates such as Brazil’s eSocial for HR and payroll and Mexico’s e-accounting (eContabilidad), Invoiceware International continues to help clients maintain complete compliance with on-going portfolio additions.
About Invoiceware International
Invoiceware International is the leader in Latin American electronic invoicing and fiscal reporting, providing solutions and services that reduce the risk and cost of maintaining compliance across the region for the world’s largest companies, including The Coca-Cola Company, Philips, Kellogg, DuPont and Siemens. Its proprietary Compliance Network, a hybrid cloud platform, delivers financial and supply chain managers the regulatory processes that they need while eliminating ERP configurations and customizations for IT staff. A single connection to the network simplifies the mandates, implementation and ongoing change management associated with regulations in Latin America, including Brazil Nota Fiscal, Mexico CFDI, Argentina AFIP, Chilean DTE, and Ecuador. Learn more at Invoicewareint.com and by following @InvoicewareInt.