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Łukasz Spirała, of Infinite IT Solutions
that is why, we see a growing interest in
our technological solutions which deliver
transparency between suppliers and buyers
and faster purchase-to-pay cycles.
With over 15 years of operations, we have
gained vast experience in integration
services by working with companies across
multiple industry verticals and regions. It
allows us to support various file formats and
have an out-of-the-box approach to business
processes of our clients.
Why do companies decide to
replace communication by e-mail,
phone or fax?
If a company is not satisfied with the
efficiency of its supply chain, it’s time to
review and refine the connection with
business partners – that’s the role of Infinite
IT Solutions.
Traditional communication by e-mail, phone
or fax comes with plenty of manual workload
to check, verify and enter information to
various IT systems. Not only is it a time
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waster, but also a trigger of costly issues
such as:
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•
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Errors in data inventory
Incorrect pricing on transaction documents
Paying incorrect invoices
Delivery delays and others
Traditional methods (post, fax or e-mail)
consume hours to process each transaction
document, i.e. create a document, send to
a business partner, have data verified and
entered manually to the IT system.
How does Infinite e-Invoice Suite
help enterprises to cope with the
introduction of VAT?
At Infinite IT Solutions, we’ve been helping
companies to follow VAT regulations in
different countries since our inception.
With the arrival of VAT across the GCC,
the process of invoicing became more
important than ever. Electronic invoicing
helps to achieve full transparency of invoice
circulation between sellers/ buyers and
tax authorities, and this way avoid any
potential penalties arising from non-
compliance. At Infinite IT Solutions, we
make sure that each e-invoice has the
highest data accuracy before it reaches the
Accounts Receivable software.
On the technical side, we ensure that
e-invoices are exchanged via a highly
secured protocol. On top of that, Infinite IT
Solutions assists companies in making the
archiving of invoices completely automatic,
so that they do not need to keep paper
invoices, which are often very costly and not
easy to maintain.
What are the legal requirements
to archive invoices to comply with
VAT regulations?
How does data automation complete
business transactions faster than
post, fax or e-mail? In general, legislation covering the
lawfulness of electronic archiving has been
in place for some time already in many
countries worldwide, including the UAE,
making the archiving of electronic invoices
as legitimate as paper-based archiving –
it’s all about meeting certain criteria. VAT
regulations may differ from country to
country, however some key requirements
are common across many regions, including
the GCC:
With a web or integrated solution in place,
transaction documents are exchanged
automatically, literally in a split second – as
soon as a document is created in the system.
Unlike e-mail, post or fax communication, we
have a real-time document flow between two
business partners, regardless of their location. • Original invoice file
• Readable format
• Timestamp which confirms that an
invoice has not been changed/edited
since its issuance
• E-signature which confirms who the
author of an invoice is
Automated exchange of data with supply
chain partners eradicates these problems
and brings a completely new pace to B2B
transactions. All because business partners
communicate between IT systems. So
instead of paper/fax documents, there is a
file-to-file message flow.
www.intelligentcio.com