«Certain caterpillars such as the silkworm, use innovative capabilities to supply the raw material of the textile fibre known as silk from the spinning threads of their cocoons.»
Invoice ProcessingOne of the most commonly used business processes is invoicing. A regulation created by the Federal Department of Finance exists since 2002, that made legally compliant, electronically controlled invoicing processes possible for the issuer as well as the invoice recipient.
As a result of this, it is no wonder that legally compliant, electronically controlled invoice processing spread rapidly in Switzerland and Europe.
The main advantages of electronically controlled invoice processing is the faster payments process, increased efficiency due to the prevention of manual input, as well as substantially lower transaction and process costs. Standardised processes, such as those defined by GSI or swissDIGIN for example, as well as the continuous methods of automating, form the basis of a successful electronically controlled invoice processing.
An important point in the introduction of electronically controlled invoice processing is compliance with the legal guidelines provided by the Swiss Code of Obligations and the tax law. The invoice recipient bears particular responsibility having the right to re-claim prepaid VAT from the VAT authorities.
By using legally compliant, electronically controlled invoice processes, particular care must be taken that both the invoice issuer and the invoice recipient employ legally compliant methods. Media disruption may not take place.
Compudata has the expertise in the implementation of invoice processing in electronically controlled business transactions.