Efficient and legally compliant management of electronic invoices and ZUGFeRD 2.1
Whether electronic invoice receipt, invoice verification, invoice release or invoice dispatch: With the new NGDX standard (Next Generation Document Exchange) for digital document exchange, you can optimize your electronic invoice processing and streamline your invoice workflow. Send and receive ZUGFeRD invoices and e-invoices in a legally secure manner by E-Mail and optimize your online accounting for the digital world.
Often it is the small things that cost a lot of time and effort to get done: For example, the recording and checking of invoices. A modern system for document processing in combination with the new generation of document exchange such as NGDX significantly simplifies these hidious routine tasks. Invoice data is transmitted completely digital and machine-readable, the booking system further processes the data without manual entry or processing. The entire process works in a matter of seconds and contains all the documents you want to capture and process digitally. Your advantages at a glance:
- Reduces errors from manual data entry or poor analysis of OCR systems
- Release workflows are automatically controlled and monitored by the system
- The invoice goes directly to the accounting department and can be paid on time without loss of cash discount
- Invoice document is automatically stored in a revision-proof manner and deleted from the system at the end of the retention period
- NGDX is legally compliant and with blockchain option also revision compliant
- Further processes in the company can be automated
In July 2016, Germany enacted an e-bill law in accordance with EU guidelines. According to this law, public authorities will have to accept and process electronic invoices from 11/2018 or 11/2019, depending on the type of authority. It has not yet been regulated what the required structured invoice formats will look like and when e-bill will become mandatory for public authorities - as is already the case in Denmark, Finland, Italy, Austria, Spain and Sweden.
Digitization is changing the world of communication. Companies need new strategies to secure their competitive positions with the help of digital technologies. A legally compliant format for document exchange such as NGDX supports this.
With the help of digital workflows, tasks and approval workflows in the company can be better controlled and checked. They are scheduled precisely and the workflow automatically reports if a task runs the risk of not being completed on time. Nothing is left lying around. Even if, for example, an employee is unexpectedly unavailable: Deputy rules of the stored rights and roles concept automatically take over and redirect the task. The individual processing steps are logged and documented so that the current status of the process can be seen at all times.
The use of NGDX also facilitates the filing process. Employees should do as little as possible themselves: Once they have received an invoice from a new supplier, they create a new supplier file for this supplier, whereby the data from the invoice is made available to the Document Management System (DMS). From now on, the system automatically archives future invoices from the supplier in the corresponding supplier file.
If you rely on Next Generation Document Exchange for your incoming documents, you will save your employees the time-consuming process of digitizing the files. If all documents are available digitally, this leads to uniform and complete electronic files that contain all relevant information without gaps.
ZUGFeRD 2.1 is the fully compliant invoice format according to CEN 16931 with the syntax UN/CEFACT adopted by the FeRD on 13.09.2017 and fully compliant with EU regulations. Unlike version 1.0, it complies with all rules and can be received and processed by all European administrations. ZUGFeRD 2.1 is available in two versions: In pure XML format (such as the X invoice) or as an invoice consisting of XML and PDF (hybrid invoice). While in version 1.0 both variants were still sent in one file (and thus did not comply with the standard), version 2.1 sends two separate files. On the one hand, this complies with the rules of an e-bill, and on the other hand, even small companies can use and process the PDF sent along as an original document.
Are you interested in further details on electronic invoicing or ZUGFeRD with NGDX?
Lesen Sie zum Thema unsere Whitepaper.
