Elavon Financial Services is now extending its electronic freight invoicing support to Europe.
The fully automated electronic invoicing service from the European subsidiary of U.S. Bank will now offer provisions designed specifically to meet the regulatory requirements of European countries, providing traceable services that comply with auditing requirements and local regulations.
“Europe generally lags behind the Americas in adoption of e-invoicing due to multiple competing formats and regulations,” Gráinne Fennell, senior product manager for Elavon Freight Payment, said. “However, the European Union is trying to jumpstart wider adoption through ordinances such as the EU e-invoicing directive, which mandates electronic invoicing for business-to-government transactions in the EU by November 2018. We expect the directive to have a much wider commercial impact as suppliers sending e-invoices to government customers migrate to the same process for all customers for efficiency.”
Elavon’s automated invoicing process will improve efficiency between business partners by taking advantage of pre-existing business tools that have already been developed and proven in North America in the creation of business solutions that meet evolving needs and regulations in Europe. Elavon’s e-invoicing process offers improved traceability, tax compliance, and cost savings over paper invoicing, providing increased control and visibility to users of the fully automated system.