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e-Invoicing

 

Cutting costs is an important consideration nowadays to every company regardless of size. e-Invoicing and electronic archiving are effective solutions to this end.

e-Invoicing has many advantages over traditional billing. The three most important are cost-effectiveness, time saving and environment-friendliness.

e-Invoicing

  • is cost-effective because there is no need to spend on postage, printing, reproduction and storage of second and third instances of bills.
  • saves significant time, because the client will receive an invoice by e-mail, for example, payment can be done online, even through a solution integrated with the e-invoicing solution.
  • is environmentally friendly because much less paper and fewer electronic devices are needed for the process, which is a benefit that should not be forgotten. An EU survey shows that the introduction of the technology CO2 emissions up to 3 million tons a year.

Switching to e-invoicing particularly pays off for companies which issue or accept bills in large numbers. The investment costs may vary depending on size, but processing even a few bills a month may produce a short term return on investment.

e-Invoicing is based on Hungarian and international standards and legislation and has full legal equivalence to paper invoices. Switching to e-Invoicing instead of traditional invoicing is just a few steps.

e-Invoicing consists of two parts:

  • issuing of e-Invoices
  • acceptance of e-Invoices

Issuing invoices is the easier process technically: the contract with the customer needs to be modified to the effect that the customer accepts e-Invoicing, then this fact and the required customer information has to be recorded in the invoicing system. In the second phase the electronic invoice is prepared, archived and delivered to the customer. This can be done through a specialized service provider or an e-Invoicing module can be integrated into the existing invoicing system. Noreg offers a number of modules and services for e-Invoicing which encompass cryptographic modules installed at and operated by the customer, an e-Invoicing service available through a web service interface and an integrated solution for SAP.

Accepting electronic invoices is a more difficult task technically since many formats are allowed according to the law. Signatures, time stamps and content required by the tax authority in invoices can be verified for specified formats. However, automatic verification of all incoming invoices is difficult to perform. The module developed by Noreg supports and handles the most popular formats (signed PDF, XAdES, es3 file). Our solution has been integrated with the SAP application on the accepting side as well, thus we offer a fully integrated SAP solution. Moreover, the Noreg e-Invoicing engine can be easily integrated into any other billing system using PDF/XML file based or web service based integration.

Noreg  developed an e-Invoicing system which fully complies with current Hungarian laws and international standards to provide its customers secure and automated e-Invoicing. The solution is based on Noreg eSign Toolkit or OrchIDEA depending on the implementation. Noreg offers its products for buying or rental, its services on a pay per transaction basis besides offering any combination of these.