xSuite and PEPPOL Access Point Storecove become partners
Global PEPPOL service provider to handle format conversions and e-invoice issuance for all xSuite Group customers
By: xSuite Group
"E-invoicing will be gaining massive momentum over the next two to five years," comments Sven Holtmann, product manager at xSuite. "To be in line with the German realization of the EU e-invoice regulations, public sector clients that offer an e-invoice portal must do so based on PEPPOL. With this in mind, our technological collaboration and partnership with Storecove offers a whole range of benefits to our customers." One of the services provided by the company is that of format conversions, e.g., transforming a German XRechnung into an Italian FatturaPA or a Singaporean InvoiceNow. As there are many different e-invoice formats worldwide all of which regularly undergo revision, this is offering is key for xSuite customers operating internationally. As a provider of centralized services, Storecove relieves companies of this effort.
The PEPPOL (Pan-European Public Procurement OnLine) initiative was founded in 2008 as a test project by the European Commission, targeting public sector clients in the EU, with the purpose of increasing the efficiency of electronic document exchange in the procurement process. "BIS Billing 3.0" is a new e-invoice standard which can be adapted to the needs of individual countries by the responsible national authorities (e.g. XRechnung in Germany by KosIT). The organizations connected are provided with security in the exchange of business documents and issuance of electronic invoices to companies and government agencies across Europe. PEPPOL is comparable to registered mail with advice of receipt. According to experts, it is geared to establish itself as the exchange method of the future. Even now, it is being used beyond EU borders.