Celtrino participates in EURINV project
In many ways, electronic invoicing adoption has been somewhat of a slow burner. Despite the plethora of benefits it brings – mainly a reduction in costs, less time spent on manual tasks and predictable cash flow – adoption has only really taken off in the past few years.
The main barriers to adoption have mainly concerned difficulties surrounding cross-border transactions, due to individual European Union Member states having their own unique e-invoicing regulations and standards. To address these barriers, the European Parliament and Council implemented EU Directive 2014/55/EU on e-invoicing. This directive also accelerates the creation of a de facto shared digital market between all EU member states and allows for much easier cross-border trading.
Directive 2014/55/EU has now been transposed into law in all the member states. All European public sector bodies are mandated to be able to receive and process e-invoices from their suppliers, while also calling for the definition of a common European standard (EN) on e-invoicing. This includes the semantics of the essential information contained in the invoice, as well as a list of syntaxes (format/language) used for the transmission of the invoice. The EN ensures that all European public sector buyers and suppliers can receive and send e-invoices across Europe using a single standardised format.
Several flagship projects have been implemented to promote the benefits of standardisation and the Directive. One of them is the EURINV project, which Celtrino are participating in as part of a collaboration with the Dublin Simon Community.
EURINV (“Implementing the European Standard in consolidated e-invoicing cloud platforms”) is an e-invoicing project co-financed by the European Commission within the CEF Telecom Program, managed by the Innovation and Networks Executive Agency through the CEF-TC-2018-2 Call. The project is coordinated by the Universitat Politècnica de València with the support of LMT Group for technical and administrative aspects.
As part of the project consortium, Celtrino is providing the Dublin Simon Community with a fully compliant integrated e-invoice approval workflow solution. There are 7 EDI Providers and 2 public entities participating in EURINV from Ireland, Belgium, Finland, Italy, The Netherland, France, Spain, Germany and Slovakia.
The EURINV project is another significant step towards achieving full cross-border efficiency in electronic trading, and Celtrino is delighted to be a part of it.
To find out more about this project, you can visit its official website: https://lmtgroup.eu/home/projects/eurinv/
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