Latin American electronic invoicing and fiscal reporting specialist Invoiceware International, has released its new supply chain financing (SCF) platform for the region.
The company is promoting it as the first LatAm financial compliance platform to combine government regulations and the power of the cloud to deliver value-added opportunities to both suppliers and buyers across the region.
Invoiceware says that in addition to ensuring Global 2000 and Fortune 500 companies maintain e-invoicing compliance and reduce the risk of audits through accurate tax reporting, its SCF solution lowers the cost of payment processing for buyers while providing suppliers greater access to liquidity.
Around 95% of transactions are electronic, as mandated by governments in countries across the region, including Brazil and Mexico. Recent regulations imposing standardised government reporting formats and approval processes have required a high degree of automation resulting in a longer financing window.
Invoiceware’s solution offers an ‘Okay to Pay’ component for real-time transactions, speeding up the payment window from several weeks to hours. Backed by leading global financial institutions, Invoiceware is empowered to ensure liquidity to LatAm supply chains and enhance cash flow across the region, providing benefits to both buyers and suppliers.
“Multinationals often view LatAm government mandates simply as a constant cost of doing business,” said Scott Lewin, president and chief executive (CEO), Invoiceware International. “When in reality, this legislation opens up unprecedented working capital opportunities across the region.
“With the release of our supply chain financing solution, Invoiceware is converting compliance processes into valuable business opportunities and optimising cash flow across the entire region, further strengthening the local manufacturing investments executives are making these emerging market economies.”
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