EDICOM’s New York City Branch Relocates

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EDICOM’s New York City branch has moved its offices to 1 Whitehall Street, which is located in the financial district. EDICOM New York will continue to grow and strengthen its presence here since the financial district is one of the most suitable areas for business expansion.

Whitehall Street extends to the southern end of Broadway and to the southern end of Franklin D. Roosevelt (FDR) Drive. It’s next to the ferry terminal that operates between Manhattan and Staten Island. Also, it’s located within walking distance of Wall Street, whose landmark buildings include the New York Stock Exchange and Federal Hall.

EDICOM has been providing different data integration services to businesses in the B2B and B2G sectors since it was established in the United States. Some of these businesses have made the prestigious Fortune 100 list.

The office in North America performs the important task of providing electronic data interchange and electronic invoicing to U.S. companies that do business in Latin America as well as more than 60 countries worldwide.

EDICOM is a world leader in the development of multi-faceted e-invoicing solutions designed to meet the technical and legal requirements of any country. This knowledge is especially important in Latin America where electronic invoicing is mandatory. For this reason, companies in North America find EDICOM to be the perfect partner to help them align their business management systems with the fiscal obligations of countries such as Brazil, Chile, Argentina, Mexico, Peru and etc.

If you want to visit EDICOM, Corp at our new offices, you’re invited. You can find us at One Whitehall Street 14th floor, New York, N.Y 10004. Click here to find us on Google Maps.

 

EDICOM joins GS1 organization in UK

EDICOM is now part of international organization GS1 in the United Kingdom. The association, founded in 1974, is dedicated to development and implementation of global standards. The aim is to simplify and automate communications between companies from all production sectors. This improves supply chain performance and operability, as well as supply and demand.

Until now, EDICOM was already an active member of GS1 in other regions such as France, Portugal, Spain and the United States. In fact, the company has taken part in many international initiatives to improve communications systems in the B2B sphere. Notable among them is development of the EDICOMData e-catalogue, which, through the GS1 GDSN network, enables suppliers and distributors worldwide to share real-time information on their products and services.

Joining GS1 United Kingdom is yet another proof of EDICOM’s commitment to the creation and use of international standards to facilitate interoperability. This is one of the main challenges facing electronic communications in the 21st century, when companies tend to have an increasingly globalized nature.

In this drive to maintain a robust and global communications network, in addition to being a GS1 partner, EDICOM collaborates with other world-leading organizations. Among them Odette, Amexipac, XFT, or the IATA. In fact, this year Edicom has also been certified as Access Point provider by OpenPeppol, one requirement of the e-procurement strategy in the United Kingdom healthcare sector, where compliance with GS1 standards will be compulsory.

Uruguay’s Tax Administration Responds to Doubts About Electronic Invoicing

Three years ago, Resolution 798/2012 opened the door for implementing electronic invoicing in Uruguay. Since then, taxpayers have had the option to choose whether or not they wanted to use e-invoicing methods, which save costs and streamlines procedures.   However at this time, the tax administration has made it obligatory for numerous companies to begin issuing electronic invoices.

In 2014, the rate of growth for this new system was 24% and the tax administration expects it to increase to 50% this year. These figures would make Uruguay one of the leading countries in electronic invoicing along with Mexico, Brazil and Chile. Last September, the tax administration announced its intention to make electronic invoicing mandatory in at least 1,000 more companies in 2015. As a matter of fact, since July 1st of last year, 700 companies from diverse sectors were individually notified to begin issuing electronic invoices.

However, this system has generated doubt in regards to the process of migration, the obligations of those issuing electronic invoices and the benefits of using them. To respond to these doubts, the tax administration has included a list of responses to frequently asked questions about electronic invoicing on its website.

In the FAQs, the tax administration addresses general aspects of electronic invoicing such as explaining each phase of the process: generating the e-invoice, notifying the tax administration, sending it to the recipient and publishing the e-invoice. In addition, the FAQs detail the procedures necessary to install and uninstall the system as well as the obligations of those who choose to implement e-invoicing.

How to Issue an Electronic Invoice?

When installed properly, e-invoicing cuts costs and offers improved productivity. To maximize these benefits, EDICOM has developed an international platform that automatically generates, sends and receives electronic invoices by integrating with the company’s business process management system. This solution is aligned with the requirements established by Uruguay’s tax administration and all the tax administrations in the world, which is why it can issue electronic invoices in any country. Furthermore, it’s beneficial to multinational companies because it’s the only tool they need to issue e-invoices in various countries.

Colombia Soon to Approve Implementation of Electronic Invoicing

Colombia is about to experience a huge cultural change in the Public sector and in business. This imminent change is a sign that the implementation of electronic invoicing may commence at the beginning of next year. Before this takes place, DIAN, Colombia’s national directorate of taxes and customs, will have to approve the new decree it has prepared.

“Today, only 3% of companies in Colombia use electronic invoicing. As its use grows, it will have a great impact on those who use it,” explains Cristian Uribe, EDICOM’s marketing manager in Colombia. It’s important to keep in mind that the current system is based on Resolution 14465 from the year 2007, which makes electronic invoicing optional and requires permission from the receiver. Since aspects of the law such as these have prevented the expansion of electronic invoicing, Colombia will soon approve a new decree that will increase its use.

The new billing model is known as SIFEL, and it will eliminate the existing one. The main difference between the models is that SIFEL will make electronic invoicing mandatory for certain businesses, which has already happened in Chile and Mexico. These two countries have inspired DIAN to implement the new system.

The new decree will establish requirements for companies that provide electronic invoicing services. Also, it will require authorized companies to appear in an accessible electronic catalogue. Furthermore, taxpayers will be obligated to use this system as well as those who receive electronic invoices. The goal of the new system and its initiatives is to build a more solid and secure system for taxpayers and the tax administration.

“DIAN will begin the implementation by requiring 800 companies to switch over to e-invoicing within six months,” indicates Uribe. Afterwards, more companies will be added, so the use of e-invoicing will grow gradually.

 

How does SIFEL function?

SIFEl regulates electronic invoices as well as credit and debit notes. These documents must be sent in XML format along with the required fields of DIAN’s platform, which will validate the information in less than 48 hours. Cristian Uribe adds that, “as the file is being sent to DIAN, the system simultaneously sends it to the recipient who is obligated to accept it.” Additionally, the issuing system must have the ability to generate an automatic reply signifying that the invoice has been received correctly.

In an effort to guarantee integrity and authenticity, the decree states that these documents must be signed electronically with an electronic certificate that can be provided by the company issuing the document or through a service provider. Furthermore, invoices will be numbered consecutively with an electronic code called CUFE that DIAN will provide beforehand. Further safety measures include the use of a two-dimensional code to ensure security when printing.

 

The Advantages

This technological leap has caused many companies to worry about how SIFEL will affect their internal processes. In response to this concern, Uribe notes that, “the electronic invoice is not invasive. With the appropriate solutions, it’s possible to comply with regulations and streamline procedures without changing day-to-day operations.” A good example of this is EDICOM’s electronic invoice platform that integrates with a company’s business process management system.

Uribe also affirms that, “the models used to create SIFEL confirm that the expansion of the electronic invoice will produce a positive result in Colombia.” As in Chile and Mexico, the benefits of using this system will be reflected among taxpayers, the tax administration and those receiving tax documents. These benefits include reducing costs, making business procedures more efficient and improving fiscal control. Increased security is another benefit. The list of advantages goes on for those companies that choose to invest in electronic invoicing.

EDI, a key technology to ensure traceability

The European Union is increasingly calling for greater traceability in production and distribution processes for consumer goods, with a view to ensuring food safety and consumer information. Good examples of this are the two new regulations rolled out since December 2014 governing meat and fish labelling.

Regulation 1379/2013 came into force on 1 January. In it, the European Council lays down common marketing standards to be applied by individual Member States in the sale of fish. The commercial designation of the species and its scientific name, the production method, the capture or farming zone and whether the product has been frozen are some of the mandatory specifications that must now appear on the labelling.

Similar indications have also been mandatory for meat products since April. That was when Regulation 1337/2013 came into force, governing the traceability of fresh refrigerated meat from swine, sheep, goats or poultry. In this case, it is essential to know the country where the animal was raised and where it was slaughtered.

 

What do these regulations entail for the logistics sector?

Compliance with these regulations means that traders are required to ensure traceability at all production stages of the foodstuff, as well as its distribution. This is why producers, freight forwarders, logistics operators and distributors rely on technologies like EDI, which not only automate procedures, but also provide total traceability of transactions.

“The number of companies adopting EDI solutions is growing, especially in terms of the DESADV message”, explains EDICOM Sales Manager Luis Molina. This message, which contains all the information on the goods, is now equipped with the appropriate fields to suitably comply with European regulations. This way, we are aware of the product features at all times and the correlation between the label and the packaged food is assured.

 

Other regulations driving EDI

Beyond the food sector, European legislation encourages electronic systems in other fields mainly affecting logistics companies. “Consider, for example, the EMCS or the measures implemented by Portugal and Hungary to control goods movements”, adds the EDICOM Sales Manager.

The ease of complying with these regulations, along with its operational and economic advantages, make EDI “an indispensable system for all supply chain stakeholders: producers, carriers, logistics operators and distributors.” Bear in mind that thanks to this technology it is possible to link up with any trading partner automatically and simplify the receipt and delivery of goods. This is why so many companies have already implemented EDI solutions developed by EDICOM.