I was on the phone with two Fortune 500 companies yesterday to discuss Latin America electronic invoicing. The conversations were similar to many I’ve had over the last few months, they had taken no steps toward implementing Mexico CFDI invoicing either on the outbound side nor on the inbound supplier side and were now in […]
Remember, that the validation of all inbound supplier Nota Fiscals is mandatory. Many companies are still accomplishing this manually. One company had over 15 individuals manually entering supplier invoices into the government portal. Another company had over 20. Yet another company realized they had not audited and archived almost 1 million nota fiscals from their […]
The deadline of January 1, 2014 is less than 3 months away, yet many multinationals have not yet finalized their upgrade to CFDI v3.2. Below are the top 5 questions you need to ask your providers and local teams if you want to meet the deadlines. Many providers will not be able to help companies […]
There is a distinct change in the mindset of multinationals happening. The trend is becoming a reality now, and management – specifically the SAP teams – are realizing the true cost of operating electronic invoicing in Latin America. This is especially true as over 500,000 organizations look to install the new CFDI mandates for electronic […]
Many people who are tasked with filing unclaimed property don’t have an idea where to start. The process itself isn’t so bad, but there are some things you have to understand before you can file. One of those things is which Relationship Code values to use for each property. Did you know that if you […]
As we continue to explore transparency and risks in Latin America, I wanted to continue on the topic of the Foreign Corrupt Practices Act and how it is related to the electronic invoicing issues we discuss all the time in Latin America. The audit exposure is not solely a local issue, the FCPA accounting legislation […]
I read an interesting article the other day, and wanted to discuss the importance of electronic invoicing in Latin America when considering the Foreign Corrupt Practices Act. I think all too often we get focused on the technology and forget the business implications that these e-invoicing mandates can have on our global operations. Here is […]
With Latin America constantly evolving their tax and electronic invoicing policies, corporate SAP teams are left with huge support costs and constant change management requests. With Brazil changing their requirements and mandating the adjustment to version 3.1 by the end of 2014, now is the time to look at the true cost of supporting Nota […]
Should you evaluate an alternative to your current NF-e solution with the new legislation in Brazil? Many companies when first faced with the electronic requirements for electronic invoicing in Brazil turned to their ERP providers. This included SAP, Oracle, Microsega and others. But the lesson learned over the past few years is that the real […]
There is a definite trend for companies using SAP to move away frommanaging in housesoftware solutions because of the maintenance difficulties imposed by the changing legislation in Brazil. Many companies looked at Brazil Nota Fiscal over the past few years as just another invoice process and compliance solution that could be managed by internal staff. […]
In the 5thpart of our series on the dangers of working only with a PAC in Mexico, I wanted to cover support and change management. These are the real cost drivers over the long term but are often not reviewed in the decision process. Why does this get overlooked? Two reasons:
The Brazilian SEFAZ, tax authority, in combination with the ENCAT, the technical arm of the SEFAZ, has just published the latest version of Nota Fiscal as of July. In future blogs, we will be discussing the impact to the current processes; however, these are the key items your teams should be aware of concerning the […]
In my previous article concerning Mexico CFDI electronic invoicing, we focused on the logistics and shipping aspects of the CFDI legislation. The lesson learned from that article was: the new laws affect your ability to ship, so make sure you don’t just contract with a single point of failure. Instead, ensure you have built-in contingency […]
In my previous article, we discussed the common issues that are starting to make their way to the operational and finance teams. Many companies are setting themselves up for customer service issues, delayed payments, and most importantly delayed or lost revenue recognition as they implement their Mexico CFDI electronic invoicing strategy. In this document, we […]
This isn’t the first time I’ve blogged about the dangers of reciprocal filing, but I feel like it is a topic worth covering again for those who may have missed it. Reciprocal or exchange filing means reporting records to a state even though the last known addresses for the records are not in that state. […]
There is a lot of confusion in the marketplace for solutions for Mexico CFDI. To make matters worse, the timeline for implementing CFDI is looming just around the corner on December 31, 2013. In conversations with many companies, we are seeing a wide variety of solutions. Here are the five mission critical questions you need […]