Fidectus announce membership with the European E-Invoicing Service Providers Association (EESPA) to strengthen interoperability and wider adoption of eSM.
Interoperability and tax compliance are less straightforward than electronic Settlement Matching (eSM) compliance. Ensuring transactions are compliant across service provider platforms requires additional levels of review from customers and suppliers. In addition, compared to e-invoicing and settlement requirements, tax compliance requirements differ more across countries. Because of this, the specific methodology for ensuring tax compliance will vary depending on which country you are operating. The Global Energy Network (GEN) provides automated tools to ensure tax compliance for eSM.
The GEN platform supports interoperability regarding the exchange of electronic settlement documents between buyers and sellers. To achieve this interoperability, GEN enables the exchange of business documents with other service providers within these networks based on bilateral or multilateral agreements.
Interoperability frameworks governed by national or international standardization organizations like EFET or EESPA set the scene for this cooperation. As a result, everyone involved in the transactions benefits from a collaborative effort by saving time and effort in setting up electronic document exchanges.