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Spanish authorities recently launched an online platform that government contractors can use to submit electronic invoices. Other European countries — for instance, Italy and Germany — have taken similar steps, and the European Union is backing that push toward more digitization for B2G and B2B invoicing and transactions.
Both businesses and governments have adopted electronic invoicing methods in response to new regulations and in light of the significant cost reduction it affords. Combined, businesses and governments in Europe and the U.S. Combined, businesses and governments in Europe and the U.S. a few notable complications remain.
Government procurement can bolster the strength of local small businesses (SMBs), and provide an example for technology adoption in areas such as eInvoicing and electronic payments. government is already taking on the cybersecurity front. government business.”
(The Paypers) Based on the EU directive 2014/55/EU, all public contracting authorities and the suppliers have to be able to receive e-invoices as from 2018.
The business product is a digital payments gateway and services aggregator for B2B, B2C and B2G businesses in Saudi Arabia. BayanPay was founded in Riyadh in 2018. Finablr, founded in 2018, acquired a majority stake in BayanPay during the first half of 2019 for $30 million.
But it’s a significant milestone nonetheless that federal regulators will be required to pay suppliers via eInvoice by the end of fiscal year (FY) 2018, meaning 19 million invoices government agencies pay every year will have to be electronic. government is the largest single purchaser of goods and services in the U.S.,
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