Global E-Invoicing Compliance
Compliance-related challenges and mistakes can waste your time and resources. Precision is more crucial than ever.
Global E-Invoicing Compliance
Compliance-related challenges and mistakes can waste your time and resources. Precision is more crucial than ever. With the drastic growth of globalization, governments worldwide nowadays are utilizing tech to close tax loopholes. While each state’s laws vary, the move toward real-time e-invoicing is changing business-to-government compliance at every stage of the supply chain. That’s why it’s become a focal point in every business, including yours.
We at Penny help buyers and sellers send, process, and settle invoices online in their chosen language, currency, and format. We improve the buyer/seller relationship by allowing suppliers to send invoices from anywhere at any time.
Invoice Management
Manage AR and AP invoices on a unified system. Penny’s global e-invoice compliance solution helps you submit and validate invoices while staying on the safe side. You can also ensure VAT compliance by using the same data for both the AR and AP processes.
Data Extraction & Validation
Determine all government financial compliance fields and map them to the appropriate XML document defined by the state’s tax authority.
Analyze submitted and obtained invoices and systematically confirm them to guarantee the XML document perfectly meets the standard specifications of tax authorities.
Universal Connectivity
With a protected, trusted connection, connect to a wide range of authorities regarding B2B requirements.
Impeccable Tracking
View the audit trail, monitor invoice statutes, and rejection alerts, and see attachments in different formats. You can also view invoices and reports from a single platform, allowing your team to reduce errors & risks while monitoring accepted & rejected invoices.
Stay Up To Date
Invoicing rules and regulations differ from one country to the next. Penny’s e-invoice compliance solution is up-to-date and fully supports many countries worldwide.
Thanks to our cloud-based approach, you can rest assured that Penny’s e-invoice compliance solutions are always up-to-date, helping you go global uninhibited.
Guarantee Authenticity & Integrity
Ensure invoices have digital certificates delivered by certified authorities accredited by local tax authorities.
Remain compliant with national tax and accounting standards for document storage and access by properly archiving all your P2P documents, such as invoices and purchase orders.
Unparalleled Flexibility
Create data integration processes with organizational systems to generate, send, and receive all invoices automatically. Our tool’s flexibility helps you easily integrate it with various ERP solutions.
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Frequently Asked Questions
Penny is a cloud-based Procure-To-Pay system. penny helps you digitize and manage your full procurement cycle from request to approval. Manage RFQs to vendors, compare quotations, send POs and even payment. penny was designed to make things easy and consolidate all of your organization’s spending needs into one intelligent system.
- Allocate, manage and monitor budgets by expense accounts, projects, departments, location, teams..etc
- Streamlining procurement means requests, approvals, and POs won’t be lost in emails or offline.
- History and records of requests and purchases can be extracted and tracked easily via the platform.
- Product requests are more accurate through the catalog, and hence avoid purchasing mistakes.
- Reports and analysis can be extracted from the platform, giving you a consolidated data center for all your procurement activities.
- penny is cloud-based and an easy to use platform. The action-board gives your team a user-friendly and simple experience.
Yes, penny is designed to handle complex procurement operations. We make EVERYTHING simple. Via the contract management feature, you can set the terms and conditions of your contract, and the system will recognize the products and the vendors of your request and match it with specified terms of your contract. Easy.
Putting you in control of your spending is integral to our mission. penny allows you to create Expense Accounts that match your P&L, and assign budgets to them. For example, you can assign $X for your “Travel Budget” and reflect on the budget before approving a travel request. In addition, penny allows you to set budgets for cost centers like projects, departments, locations, and so much more. With penny, you can extract reports and view your spend per Expense Accounts or cost center.
