In today's digital age, e-invoicing has become a cornerstone for businesses aiming to streamline their operations, reduce costs, and improve efficiency. However, as companies expand globally, they face the dilemma of whether to adopt a global strategy for e-invoicing or to tailor their approach to each local market. While local strategies may seem appealing due to their adaptability to specific regulations, they often fall short in several key areas.

Here's why a global strategy is the better choice:

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Conclusion



While a local e-invoicing strategies may offer the allure of customization to specific market needs, it often comes at the expense of efficiency, scalability, and robustness.

A global strategy, on the other hand, offers advantages in terms of implementation time, cost-effectiveness, scalability, enhanced security, streamlined data cleansing across ERP systems and more powerful data analytics.

Therefore, for businesses aiming for a seamless and efficient e-invoicing system, a global strategy is the clear winner.

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How can Deloitte help you on your journey?

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E-invoicing and digital reporting matrix

Customised matrix based on the business’s tax footprint, containing standardised requirements and a jurisdictional status of existing e-invoicing and digital reporting mandates.
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Roadmap of developments

Implementation roadmap for system readiness, setting out the key stakeholders and key deadlines. The roadmap includes a report of upcoming developments and functional specifications.

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Gap analysis

Assessment outlining where companies are required to comply with e-invoicing mandates on a country-by-country basis. The gap analysis includes a technical specifications analysis regarding the company’s current state for e-invoicing/reporting.

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Solution selection and implementation

Assist companies with the coordination of e-invoicing vendor solution selection and implementation. For this purpose, Deloitte professionals use a pre-defined methodology with the aim of driving key criteria that will be used for the evaluation of solutions.

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Knowledge transfer

Coordination with Deloitte professionals who can assist on outlining strategic plans for knowledge transfer sessions based on a company’s global tax footprint.

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Customised developments

Supplemental services to track and document e-invoicing/reporting developments tailored to a company’s global tax footprint, complied in an easy to navigate database.
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To assist businesses with keeping track of these dynamic developments in e-invoicing and digital reporting, we have created a global tracker, which is updated regularly.
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Deloitte and EDICOM alliance

Deloitte have created an alliance partnership with EDICOM which allows us to offer our clients end-to-end e-invoicing solutions.
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Get in touch

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Richard Mackender

Partner, Deloitte Singapore

Ong Siew Yong

Director, Deloitte Singapore

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