Doing business globally is no small feat. When it comes to cross-border trade, we understand that technology is the route to solving the issues faced by enterprises.
Today we announce a solution that will make cross-border trade much easier.
Tradeshift and Invoiceware International have joined forces to alleviate a massive headache for Latin American e-business – ensuring compliance while supporting domestic and cross-border invoicing. The largest companies in the world depend on IWI to ensure their ebusiness practices are up to snuff with the Latin American laws and regulations – Siemens, Microsoft and Coca-cola – to name just a few.
The partnership allows domestic companies and multinationals on the Tradeshift platform to transact with Latin America and know their business documents are compliant thanks to the integration of Invoiceware International’s automated three-way validation match.
When it comes to e-business adoption, Latin America gets a gold star. E-invoicing is mandatory in countries like Mexico, Argentina and Brazil. In fact Brazil has the highest e-invoicing penetration in the global B2B market.
That said, it is also highly regulated. Companies wishing to conduct business within these countries, whether domestic or foreign, must abide by very strict guidelines (which are constantly changing) to avoid fines, criminal charges or even the total shutdown of their operations.
It’s an intimidating set of circumstances to face when looking to expand operations. Together, Tradeshift and Invoiceware International are delivering solutions to the problems faced by Latin America and the global enterprises striving to do business in the region.
And businesses are indeed striving. Latin America is a region ripe with growing sales opportunities, acquisitions and investments – Brazil alone is preparing to host both the World Cup and the Olympics over the next three years.
As we move closer and closer to connecting every business on the planet on one shared platform, we see this partnership as a huge milestone. Latin America has proven that e-business is the way of the future. They’ve been leading the way.