Productivity Gaining Opportunity

The goals of the standardization of electronic invoices in France are clear: to simplify the tax environment, to combat fraud and to protect the environment. In less than two years, all SMEs and SMEs will have to be fully compliant with the reform of electronic invoicing and data transmission.

If this new regulation seems like a legal limitation, it is actually a real opportunity to increase productivity. So, what tangible benefits can you derive from it? All the answers are in this article!

Legal obligation that speeds up and automates invoice processing

In recent years, digital transformation of companies has been at the heart of their concerns and is still progressing. It no longer appears that the physicalization of business operations brings many tangible benefits on the organizational and financial side. The electronic invoicing reform promises to be a real boost for all companies in Europe towards automating invoice processing.

Digitizing supplier and customer invoices has a huge advantage: it automates control and accounting processes. Significant time savings for accounting firms, which will be able to reinvest the time saved in tasks with high added value.

The application of electronic invoicing, and more generally any use of material cancellation, has many advantages, both for companies and accounting firms.

Dominique Perrier [1]Chairman of the Technology Committee of the Association of Chartered Accountants, The Factor-X standard makes life easier for accountants, there is no longer a need to sort invoices, they are received at once. However, this means rethinking the organization of companies for receiving invoices, managing various acquisition methods (emails, secure spaces, digital security, platforms), duplicating accounting documents and monitoring processes. .

Thus, the electronic invoicing standard will bring many advantages to companies that have not yet used a flow processing automation solution.

A less relevant approach would be to wait until the deadline to prepare an automatic flow processing solution to comply with the new regulations. Why wait when there are solutions like Ingeneo that really save time and money?

Be careful anyway to choose a solution that is poised to become a partner platform for physicalization so you’re ready for 2024. That’s the case with Ingeneo solutions. Our solutions provide comprehensive support for businesses in their digitization by automating the processing of customer and supplier invoices. Thanks in particular to the advanced capture technologies, which make it possible to simplify all phases of your document processes.

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Advantages of the Factor-X standard

Ensure complete interoperability

In recent years, the phenomenon of dematerialization and automation of the introduction of accounting has gained ground on the business side. But the nature of the information exchanged as well as the technical and regulatory environment of companies is heterogeneous. It is not uncommon today to find several solutions in a company, each of which caters to specific needs. This can sometimes slow down the overall interoperability that companies expect despite publishers wanting to build bridges between different technologies.

Factor-X’s modular goal is to meet this challenge of total interoperability. This is a standard model that only takes into account Elements of basic information that an electronic invoice must contain to ensure compliance with legislation (including tax) and to enable interoperability of cross-border, intersectoral, and national trade. The semantic model can be used by both public and private sector organizations for public contract invoices. It can also be used for invoicing between companies in the private sector [2].

Thus, full interoperability is ensured thanks to standardized and structured information that allows for automatic processing by various programs on the market.

Streamline, accelerate, and secure flows

Through electronic billing, the sender and recipient communicate directly with each other without human intervention. This avoids a lot of inconveniences like, for example, blurred vision when bill processing, multiple collection channels, loss of paper bills, etc. Availability of billing thanks to secure online archiving, information integration, confidentiality and access control is made possible by automated billing software such as Ingeneo.

Increase productivity and convenience through reliable automation

The electronic billing standard provides seamless and simple exchange of information. So it becomes easier to automate accounting processes and get automatic and error-free invoice processing. The benefits are numerous and the relationship with your clients is simplified (less lost papers, instant transfer, as well as consultation, filing and archiving).

Several studies highlight the fact that digital transformation enhances the customer experience, particularly through simpler billing transfer. But this also applies to corporate employees who manage accounting operations. Factor-X eliminates time-consuming tasks of data entry and validation and reminders to invest time saved in value-added tasks that satisfy employees.

Make better use of data and rise to the rank of a strategic advisor

Invoices processed in real time are real sources of information that allow you to provide support and advice to your customers on a daily basis. Knowing how to analyze it makes it possible to better support each client in running their business.

Companies that integrate the right automatic billing solution, that help their employees develop their skills and that know how to provide the necessary advice to support their customers, will have the future in their hands!

Factor-X’s goal: Prepare for change by choosing Ingeneo

For several years, accountants have been at the heart of digital transformation. Ingeneo is part of a policy of continuous innovation by pursuing legal developments and technological needs to best support the accounting profession and its clients.

Equip yourself with a solution that prepares to become a partner of a dematerialization platform to automate the billing process

The partner platform for material removal is a platform that has undergone a registration procedure by the management, for a renewable period of three years, the conditions of which will be determined by the regulation. Only a partner platform will be allowed to provide all functions provided for in the reform in terms of electronic invoicing and electronic reporting: electronic invoicing and transmission to the customer, invoice transmission, transaction and payment data to management [3].

Although the terms of the regulations for electronic billing are not yet fully defined, the main lines regarding the registration of partner material removal platforms (PDPs) are now known.

Today, there is no publisher yet with PDP status (registration applications open September 2023), but Ingeneo, a software publisher since 2011, is preparing for this certification to support you from 2024 in anticipation of the e-invoicing reform.

We have started work to become a partner platform for physicalization, and to formalize, through audit, GDPR compliance and ISO 27001 certification. Finally, we will upgrade our infrastructure to SecNumCloud.

Anticipate change by equipping yourself with an automated management solution for various electronic streams and formats

In addition to preparing for being a PDP in 2024, Ingeneo allows companies to increase productivity thanks to fast and secure automated processing of invoices. With a unique AI equipped with machine learning, the solution collects all your invoices and extracts data into your production tool. You can finally devote your time to developing your offer, strengthening the relationship with your customers, and increasing your income.

More than ever, our ambition is to offer a cutting-edge tool that supports companies in regulatory changes to help them meet the challenges of today and tomorrow.

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