SunTec e-Invoicing

Stay Compliant with e-Invoicing Regulations E-invoicing is rapidly emerging as a mandate as countries shift to digital invoicing to combat fraud, improve efficiency, and enhance tax collection (e.g., VAT, GST). The key tools in this transition are e-invoicing and Continuous Transaction Controls (CTC). e-invoicing standardizes processes, allowing trading entities and government authorities to track invoices (generation, reporting, issuance and archiving), while CTC ensures real-time tax data reporting. Due to the complementary nature of e-invoicing and CTC, a variety of e-invoicing models incorporating the CTC framework have evolved over time. Different countries have mandated various e-invoicing CTC models to receive maximum benefits, while ensuring that country specific-requirements are met with its own tailoring. Some of these models are complex and still evolving, requiring organizations to keep track of new regulations to ensure compliance. A strong technology platform, therefore, becomes essential for seamless integration and adherence to these frameworks.

Leading Banks Rely on SunTec for Compliant e-Invoicing

• 30+ years of experience in delivering pricing, billing, and revenue management solutions
• 0 compliance violations
• Over 15 Million e-invoices Generated/ month
• Over 107 Million Transactions/ Month
• OpenPeppol Accredited Access Point Service Provider

Unlocking Efficiency with SunTec e-Invoicing

SunTec e-Invoicing is a comprehensive, fully configurable, industry-agnostic, and country-agnostic product designed to help your organization comply with emerging mandates seamlessly and quickly. Our product provides flexible capabilities for collecting transaction data from systems, utilizing standard interfaces for data validation, electronic invoice generation, format conversion, verification, transmission, exchange, and archiving. The product’s functional and technical architecture caters to the specific requirements of any of the following e-invoicing and CTC models: Interoperability: Electronic generation and exchange of invoices through certified service providers through an interoperable network. SunTec e-invoicing provides the capability to electronically generate and exchange the invoice in any standard format, as prescribed by the service provider. Real-time Reporting: Invoices are electronically generated and reported to the government authority’s CTC platform in real-time. SunTec e-invoicing provides the capability to electronically generate the invoice in the specified format and integrate with the government authority’s CTC platform for electronic reporting in real time. As the exchange with buyer is not regulated, it is directly done between the trading parties in mutually agreed formats, mostly as PDF documents. Our product provides highly configurable capabilities for template-based PDF generation and auto emailing to customers. Centralized Exchange Model: Electronically generated invoices from sellers are received on the government authority’s CTC platform and exchanged with the buyers, triggered centrally from the same platform, after validating them electronically in real time or near real time. SunTec e-invoicing has the capability to electronically generate the invoice in the specified format and integrate directly with the government authority’s CTC platform (V Model) for electronic reporting in real time or integrate with private platforms (Y Model), adhering to the agreed specifications. Clearance Model: This involves control by the government tax authority through a clearance process. Electronically generated invoices are received by the government authority’s CTC platform and cleared with stamping after validations. The clearance model can be further categorized into:

• Pre-Clearance or Hard Clearance Model: Invoices must be sent to the tax authorities before they can be sent to the buyer.
• Post-Clearance or Soft Clearance Model: : Invoices can be sent to the buyer first and then sent to the tax authority for clearance.
• Decentralized Clearance Model: The task of clearing invoices is distributed or delegated across different entities or service providers instead of the government authority’s CTC platform.

Maximize Your Advantages with the SunTec e-Invoicing

Compliance: Ensure full adherence to international e-invoicing standards like European Standard on e-invoicing (EN), UN/EDIFACT, Peppol BIS, Peppol PINT, to name a few, and locally mandated specifications including Core Invoice Usage Specification (CIUS). This not only minimizes the risk of penalties but also shields your brand from potential reputational damage. If you are doing business across different regions in the world, e-invoicing compliance becomes even more challenging. Our product ensures you stay ahead of the latest regulatory changes, ensuring seamless compliance across diverse jurisdictions. Flexibility: Benefit from unparalleled adaptability, seamlessly integrating with any existing accounting systems, ERP systems, and other financial systems. We ensure a smooth transition and deployment, enabling your business to maintain its operational flow without the need for extensive system overhauls. Automation: Enhance your invoicing accuracy and staff productivity significantly by automating routine invoicing processes. Our advanced algorithms reduce manual data entry and the associated human errors, streamlining your workflows and allowing your team to focus on more strategic tasks. Protection: Defend your sensitive financial data against the ever-growing spectrum of cybersecurity threats. Our robust security protocols are designed to thwart potential breaches, ensuring data integrity and safeguarding customer information. Visibility: Gain instant access to critical financial data with real-time analytics and reporting features. This increased visibility into your financial operations allows for more informed decision-making, better resource allocation, and enhanced financial planning. Our dashboard provides a comprehensive overview of your invoicing landscape, helping you to manage cash flow more effectively and predict future trends.

Capabilities

• Can be deployed either as a standalone e-invoicing product or as an integrated e-invoicing and VAT/GST product
• Adapts to widely used e-invoicing frameworks
• Integrates with e-invoice portals directly or through an API middleware manager
• Ensures traceability using an invoice audit trail and search capability
• Automatically configures invoice data according to the organization/customer’s regional jurisdiction
• Generates human-readable e-invoices and e-notes