Challenges and benefits of electronic invoices
Author: Alberto Freitas
Source: Portal Fator Brasil - RJ - ARTICLE - 04/09/2009
The deadline for companies to comply with the mandatory issue of the Electronic Invoice ends on September 1st. To date, 79 sectors will have to issue NF-e in transactions with other companies. However, despite the short time, I have noted that many of them still express doubts about the functioning and benefits of the process.
One of the most frequent concerns the requirement. It is still unclear to most companies whether it is really mandatory to adhere to this model, or when it will become mandatory. Another uncertainty concerns the question of IT - whether it is necessary to form a technological base and have dedicated links to support the digital system. I still notice more basic doubts about what a contingency form is, and what an invoice consists of.
It is undeniable that the adaptation to the new standards should change the structures of the companies a lot, mainly in the smaller ones, since the implementation of the electronic invoice requires several updates in the IT infrastructure, such as revisions in the billing systems, investments in hardware and software, among other technologies. In addition, it also requires the training of all employees involved.
However, I can say that all these difficulties that adapting to the process can bring to the routine of companies at the beginning, will turn into much greater benefits in the near future.
The adoption of the Electronic Invoice provides advantages to everyone involved in a commercial transaction, ranging from reducing the cost of purchasing paper and printing the tax document, better monitoring of the transit of goods, to reducing costs for shipping and storage of tax documents.
A company that hypothetically issues 100 invoices per day, for example, will have to print and store 2.000 bills per month, adding up to approximately 120 bills after five years. Archiving this volume requires investment in large rooms or even warehouses. The NF-e eliminates all this problem.
In addition, whoever adopts it can enjoy facilities in the use of BPM models and tools - Business Process Management, which will be facilitated once the standardization of the information contained in the NF-e and in the SPED will allow companies use a standard to adapt activities such as: physical and tax receipt of goods; validation and approval workflow for the entire purchasing cycle until the receipt of goods; loading data directly into the management systems, with content control and information validation, among others.
B2B practices will also be encouraged, since the standardization of information based on definitions and specifications of the Secretariats of Finance (SEFAZ) creates mechanisms that no longer require translations and changes in the content of documents and files between companies, as was the case in the past. that only EDI existed.
Another benefit is data transparency. Notes cannot be issued if the CNPJ and company address are not validated and updated. The issue is already valid as confirmation and validation of the information, which already works as an audit, with the availability of files of all the transactions carried out.
This brings more speed and veracity to the transaction. All information contained in the NF-e issued and or received by taxpayers is recorded in real time at the Treasury Departments, being available there for consultation and auditing of any and all transactions by the Tax Authorities, at any time.
The benefits also extend to the Tax Authorities, as it makes it possible to increase the reliability of the invoice, improve the tax control process, reduce tax evasion and, consequently, increase the tax collection.
Expanding the scenario, even society can be included among the beneficiaries of the mandatory issuance of the NF-e, because in addition to ensuring reliability in the collection of taxes, the process will bring ecological benefits by reducing paper consumption, encouraging electronic commerce and the use of new technologies and also the emergence of new business and job opportunities.
By: Alberto Freitas, CEO of Signature South Consulting
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Challenges and benefits of electronic invoices
Source: Decision Report - SP - FINANCE - 18/08/2009
It is undeniable that the adaptation to the new rules should change the structures of the companies a lot, mainly in the smaller ones. The implementation of the electronic invoice requires implementations and revisions in the billing systems, updates in the infrastructure, investments in hardware and software, among other technologies, and also requires training of all the personnel involved.
The Electronic Invoice provides benefits to everyone involved in a business transaction. For the seller taxpayer there is a reduction in the cost of purchasing paper and printing the tax document, better monitoring of the transit of goods, in addition to a reduction in costs for sending and storing tax documents.
If we think of a company that hypothetically issues 100 invoices per day, it will have to print and store 2.000 bills per month, adding up to approximately 120 thousand bills at the end of 5 years. Some companies have to maintain rooms or even warehouses to archive this material. And the NF-e eliminates all this problem.
Another benefit is data transparency, notes cannot be issued if the CNPJ and company address are not validated and updated. The issue is already valid as data confirmation, in addition to the online process allowing the issuance of notes 24 hours a day. The issuance of the NF-e itself already validates all data online, which already functions as an audit.
The buyer taxpayer also obtains advantages, the issuance of the NF-e enables the planning of product delivery logistics by receiving information in advance, also allowing the rational use of docks and parking areas for trucks, for example. Among other benefits are the elimination of typing invoices at the reception of goods and the reduction of bookkeeping errors due to typing errors in the bills.
The benefits also extend to the Tax Authorities, as it will make it possible to increase the reliability of the Invoice, improve the tax control process, reduce tax evasion and, consequently, increase the tax collection.
As soon as the bill is issued, its receipt is confirmed. This crossing of data makes the audit simpler, with the availability of files of all transactions carried out, ensuring greater speed and veracity of the transaction, with greater data transparency.
Expanding the scenario, even society can be included among the beneficiaries of the mandatory issuance of the NF-e, because in addition to ensuring reliability in the collection of taxes, the process will bring ecological benefits by reducing paper consumption, encouraging electronic commerce and the use of new technologies and also the emergence of new business and job opportunities.
* Alberto Freitas is general director of Signature South Consulting
