Global electronic invoicing (e-invoicing) network OB10 and Turkish e-invoicing solutions provider Digital Planet have formed an alliance ahead of new regulations being introduced in Turkey next month that will require certain companies to adopt e-invoicing.
OB10 said that the alliance will assist companies in complying with the new regulations and automating their invoicing processes.
Digital Planet, one of the first certified service providers in Turkey, helps companies that are required to adopt e-Invoicing to integrate with the government’s new system without changing their invoicing flows. As part of Tungsten Corporation, OB10 aims to offer invoice discounting to Turkish suppliers and generate substantial cost savings for buying organisations through spend analytics.
“Our partnership will help organisations meet their regulatory requirements and streamline their processes,” said Edmund Truell, group chief executive (CEO) at Tungsten Corporation. “Automated invoice processing also allows companies to take advantage of early payment discounts and improve payment performance.”
Through e-invoicing, Turkey’s Ministry of Finance aims to close the gap from lost taxation, while companies can strengthen their invoicing practices, invoice data analysis and supplier relations.
On day one of Sibos 2017, Stefan Dab, The Boston Consulting Group led a conversation examining the future of correspondent banking, and specifically the pain points corporate treasurers face in their cross-border payments operations and where technology can be developed to alleviate these.
Rising interest rates, excitement around blockchain use cases and cross-border payments were all hot topics at this year's AFP conference in San Deigo.
The US dollar and debt yields falling on the North Korea missile test, treasury being a top target for cyber criminals and why treasurers aren't into real-time payments all hit the latest headlines in the world of treasury this week. Don't miss our ten top news stories from around the world.
HSBC arguing that mid-market businesses are missing out on huge exporting opportunities, 3D printing being predicted to cut global trade by 23% in 2060 and the blockchain community launching a voluntary transparency project all hit the latest headlines in the world of treasury this week.