Media and Policy Makers

EESPA News

E-Invoicing between tax transparency and process efficiency – Exchange Summit Vienna

Press Release by Vereon – Switzerland, July 2021 E-Invoicing is being mandated for by a growing number of governments all over the globe. The desire to close the VAT gap is one main driver, but for corporates this results in a growing variety of requirements and thus demands for increasing efforts to stay ahead of

Exchange Summit 2021

The 2021 Exchange Summit takes place on 27-29 September in Vienna.  Participation is possible on-site as well as online. EESPA as sponsoring partner of the event, can offer its members discounted tickets for 28-29 Sep – Get your discount code from the Secretariat! For more information, agenda and registration, visit www.exchange-summit.com/europe. At this global platform

EESPA Standard Definitions for Legally Compliant Electronic Invoicing and their usage

This guide is published by EESPA to define and explain a set of definitions to support legally compliant electronic invoicing (e-invoicing), and provides guidance on their usage in the conduct of customer relationships by service providers. The EESPA Public Policy and Compliance Working Group (PPCWG) formally started a work stream on compliance during 2016 following

CEF article on “Onboarding for SMEs and Private Sector”

with contribution from EESPA… Since March 2020, the CEF eInvoicing team held a series of online activities to shape policy discussions and co-create the future of eInvoicing with you. We are delighted to share this article on “Onboarding for SMEs and Private Sector”, presenting the latest developments, current eInvoicing projects, and goals related to stakeholder onboarding.

European Commission on eInvoicing Transmission

EESPA was very pleased to have been part of the authorship team for this paper on Transmission in cooperation with the European Commission. Read the article Download the PDF:

EESPA Summary of Policy Positions

EESPA Publishes its latest Summary of Policy Positions… 1.Adoption: EESPA supports concerted action by all European stakeholders to promote the benefits and ease of adoption of e-invoicing and e-procurement for both the public and private sector. Mandates and incentives should be carefully considered to promote significantly higher rates of adoption of digital processes. The COVID-19

#Connecting Europe Building Block Bulletin


EESPA Letter to the Market

Covid-19 and the urgency of adopting paperless supply chain automation to accelerate payments to cash-strapped small suppliers Today’s circumstances demand radical action to keep the wheels of commerce turning and supply chains delivering. For this to happen there must be timely electronic invoicing, and certainty and acceleration of payments, especially to small suppliers. Never have

GREECE: myDATA project

myDATA – IAPR e-books myDATA (my Digital Accounting and Tax Application) is the name of the new electronic platform by which IAPR introduces electronic books into the daily lives of businesses. Electronic Books is a very important step in the digital transformation of the Tax Administration and its relationship with businesses. Our goal is primarily to

ITFA Budapest – Podcast: Is e-invoicing the giant on our doorstep

The ITFA conference covered developments within areas of supply chain finance, credit risk insurance and ever more creative risk distribution techniques, as well as the rise of FinTech within the trade and open account environment. TFG heard from Mr Charles Bryant, the founder and Secretary-General of European E-invoicing Service Providers Association EESPA, discussing e-invoicing. PODCAST:Season

EPC – European Payments Council – eInvoicing gathering pace…

Read the article by Charles Bryant, EESPA Secretary General here: https://www.europeanpaymentscouncil.eu/news-insights/insight/electronic-invoicing-gathering-pace

Billentis The e-invoicing journey 2019-2025 REPORT

FNFE-MPE announces Factur-X V1.0.04

Factur-X is a Franco-German standard for hybrid e-invoice (PDF for users and XML data for process automation), the first implementation of the European Semantic Standard EN 16931 published by the European Commission on October 16th 2017. Factur-X is the same standard as ZUGFeRD 2.0. Factur-X is at the same time a full readable invoice in a PDF A/3 format, containing all information useful

CEF eInvoicing’s big day is here!

Today is the deadline for the implementation of the eInvoicing Directive. This is an important milestone for the eInvoicing Building Block. On behalf of the CEF Digital Team, we would like to thank everybody involved for all the effort and dedication you have put in making Europe’s eInvoicing dream a reality!  

Guide for referencing standards in public procurement in Europe

This Guide has been developed in the frame of the Joint Initiative on Standardisation within JIS Action 11 ‘Pilot Project on Increased use of Standards in Public Procurement to better implement the public procurement Directives’, under the leadership of the Swedish Standards Institute (SIS), and has been financed by the European Commission. The Guide has been drafted with

The European E-invoicing Service Providers Association reports a significant growth of 23% and over 1.9 billion processed e-invoices in 2017

The headline results: 1 984 million electronic invoices were processed and delivered in 2017 by members of the European E-Invoicing Service Providers Association (EESPA). This represented a significant growth of 22.9 per cent over 2016 volumes of 1 615 million. EESPA commissioned this fifth annual survey among its members as part of a continuing commitment

Singapore adopts PEPPOL Standard to launch nationwide e-invoicing framework

IMDA is the first national PEPPOL authority outside of Europe and the first National Authority in Asia to adopt the e-invoicing standard which enables the exchange of standardised machine-readable documents over its network. Read the article here 

Germany mandates PEPPOL for invoicing to the public sector

In April 2018, the German National IT Planning Council decided to mandate use of the PEPPOL eDelivery Network for transport of e-invoices to public authorities in Germany. The timeline for implementation will be decided in October, but the April decision already sets the direction for public sector e-invoicing in Germany in the years to come.

2018 CEF Telecom Call – eDelivery, eInvoicing & eTranslation

The Innovation and Networks Executive Agency (INEA) has launched a call for proposals under the Connecting Europe Facility (CEF) supporting eDelivery, eInvoicing and eTranslation. The call makes available an indicative €0.5 million for eDelivery, €5 million for eInvoicing and €5 million for eTranslation (Automated Translation). This means a total of approximately €10.5 million via CEF,

Second Call: European Multi-Stakeholder Forum on Electronic Invoicing’s new mandate – Apply now!

DG GROW has launched a call for members of the EMSFEI’s new mandate. Read the News release here: https://ec.europa.eu/cefdigital/wiki/x/qNtUAw

WHITE PAPER: TAX-COMPLIANT GLOBAL ELECTRONIC INVOICE LIFECYCLE MANAGEMENT

Read the TrustWeaver Press Release.

EESPA publishes its annual Summary of Positions on Public Policy setting out its recommendations for action by stakeholders

Brussels 5 January 2018 – EESPA publishes its annual Summary of Positions on Public Policy setting out its recommendations for action by stakeholders  EESPA and its members seek to engage in the public policy debate on e-invoicing in the interests of wider e-invoicing adoption. The Summary (v8.0 dated 10 November 2017) of current public positions

Bengt Nilsson and Marcus Laube are elected as Co-Chairs of the European E-invoicing Service Providers Association (EESPA)

Brussels 5 January 2018 – Bengt Nilsson and Marcus Laube are elected as Co-Chairs of the European E-invoicing Service Providers Association (EESPA)  Bengt Nilsson and Marcus Laube were elected as Co-Chairs at the Annual General Meeting of the European E-invoicing Service Providers Association (EESPA) on 30 November 2017, for a two-year renewable period of office.

EESPA launches its new Multilateral Interoperability Framework Agreement for use by its members

Brussels 5 January 2018 – EESPA launches its new Multilateral Interoperability Framework Agreement for use by its members  At its Annual General Meeting on 30 November 2017, EESPA agreed to launch its new Multilateral Interoperability Framework Agreement (MIFA) under which its members will exchange e-invoices and other documents on behalf of their customers. An EESPA

Connecting Europe Newsletter Volume 13

This edition’s highlights Register now! “Connecting Europe with Building Blocks: Making the Digital Single Market a Reality” Still time to apply! Calls for Proposals to support the uptake of CEF eInvoicing & eTranslation close 28 November 2017 The European standard on eInvoicing is here Overview of B2G eInvoicing in public procurement in Europe CEF eID webinar: eIDAS

The European E-invoicing Service Providers Association reports a significant growth of 29% and over 1.6 billion processed e-invoices in 2016

The headline results:  1 615 million electronic invoices were processed and delivered in 2016 by members of the European E-Invoicing Service Providers Association (EESPA). This represented a significant growth of 29 per cent over 2015 volumes of 1 252 million. EESPA commissioned this fourth annual survey among its members as part of a continuing commitment

B2B Fintech: Payments, Supply Chain Finance & E-Invoicing Guide 2017

The Paypers team (www.thepaypers.com) has released the B2B Fintech: Payments, Supply Chain Finance & E-Invoicing Guide 2017. Download HERE The pages of this year`s edition keep the vibrant and dynamic atmosphere of the banking & payments industry we shared with you in previous editions. The fresh pages of 2017 Guide offer its readers eye-opening information

The Connecting Europe Newsletter Volume 9

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Brief on the new European standard for an e-Invoice prepared by CEN/TC 434

By Charles Bryant, Secretary General EESPA EESPA members and the Secretariat have been actively engaged in CEN/TC 434 and this briefing provides an up to date picture of what is happening Background: The new standard (or European Norm- EN) is the subject of EU Directive 2014/55/EU, whose objectives are to encourage e-invoicing in the public

Invitation to apply for Implementation Workshops on the CEF eInvoicing Building Block Digital Service Infrastructure (DSI)

The CEF eInvoicing Building Block offers a range of services to support Public Entities in their eInvoicing projects, and facilitate interoperability between contracting parties in Europe. In this context, different implementation workshops are available to promote the uptake of electronic invoicing, the European standard and other relevant CEF Building Blocks DSI services. The workshop modules on

Guidance paper for EU public administrations – The adoption of e-invoicing in public procurement

This document was prepared by an Activity Group of the European Multi-Stakeholder Forum on e-invoicing (EMSFEI) focused on the adoption of e-invoicing in public procurement and endorsed by the EMSFEI on 21 March 2016. This Guidance Paper is addressed to all those involved in the implementation of electronic invoicing in public procurement. It supports public sector entities throughout

Standard definitions for techniques of Supply Chain Finance

Global SCF Forum participating organisations: The International Chamber of Commerce (ICC) Banking Commission , BAFT, the Euro Banking Association (EBA), Factors Chain International (FCI), and the International Trade and Forfaiting Association (ITFA). The International Factors Group, one of the original sponsoring associations is now integrated with FCI. For the record Charles Bryant edited this document

New deliverable: The EESPA Glossary

EESPA is pleased to present its new on-line Glossary containing over 180 terms and acronyms related to e-invoicing, compliance and standards. Share this URL with all your contacts: eespa.eu/glossary/

A complete Beginners’ Guide to Blockchain – Forbes

Read this interesting article on Blockchain posted Bernard Marr on Forbes.com Bernard Marr is a best-selling author & keynote speaker on business, technology and the effective use of data. The link to the article: http://www.forbes.com/sites/bernardmarr/2017/01/24/a-complete-beginners-guide-to-blockchain/#2f83fde066a6

EESPA and VeR sign Memorandum of Understanding

EESPA is pleased to announce the signature of a Memorandum of Understanding with the E-Invoice-Alliance Germany- the Verband elektronische Rechnung (VeR)   It is intended that EESPA and VeR together with their respective membership communities will benefit from closer and deeper levels of cooperation across a range of common topics of interest and areas of activity, such

Tax-compliant global electronic invoice lifecycle management

Download your copy here.  

European e-invoicing service providers report a significant growth of 27% and over 1 ¼ billion processed e-invoices in 2015

Brussels, Belgium, 12 September 2016 – 1 252 million electronic invoices were processed and delivered in 2015 by members of the European E-Invoicing Service Providers Association (EESPA), based on a set of survey results completed in July 2016. This represented a significant growth of 27 per cent over 2014 volumes of 985 million. EESPA commissioned

Joint Position Paper: requirement to receive electronic invoices in the ‘listed syntaxes’ under Directive 2014/55/EU

Introduction The European E-invoicing Service Providers Association (EESPA) and OpenPEPPOL present this joint paper on the subject of the European Norm (EN) for the semantic data model for a core electronic invoice, and in particular the List of Syntaxes to be used. There is a current consultation within the relevant CEN Technical Committee, CEN TC

European E-invoicing Service Providers Association and OpenPEPPOL to cooperate in supporting the rapid adoption of e-invoicing

The cooperation aims at developing common positions on EU public policy support for e-invoicing, promoting interoperability and rolling out easy-to-use services The European E-invoicing Service Providers Association (EESPA) and OpenPEPPOL have entered into a Memorandum of Understanding (MOU) to cooperate in supporting the rapid adoption of e-invoicing across Europe. Both associations, together with their respective

EESPA in the NEWS: B2B Fintech: Payments, Supply Chain Finance & E-invoicing Guide 2016: A complete overview at your fingertips

The Paypers, the global source of news and analysis for the payments industry, has just released its B2B Fintech: Payments, Supply Chain Finance & E-invoicing Guide 2016. Read what industry experts have to say about the potentially untapped opportunities in cross-border B2B payments, how banks are innovating, what are the latest innovations in SMB financing, what

EESPA’s concerns about the proliferation of additional requirements on e-invoicing at Member State level

Resolution carried unanimously at the EESPA General Assembly Meeting of 19 May 2016, Tallinn Estonia Document reference/no. EESPA-RES-2016-003  Date: 19 May 2016 Background Whereas it is observed that a growing number of Member States are introducing Additional Requirements in the areas of invoice definition, reporting and audit, which in practice significantly impact the ability of

Aggregated Volume Statistics Survey results

European e-invoicing service providers processed nearly 1 billion e-invoices, according to EESPA survey  Brussels, Belgium, 30 July, 2015 – 986 million electronic invoices were processed and delivered to invoice receivers in 2014 by members of the European E-Invoicing Service Providers Association (EESPA), based on a set of survey results completed in June 2015. This represented

 

 

Summary of EESPA Policy Positions - Read & Download the PDF
  1. EESPA supports concerted action by all European stakeholders to promote the benefits and ease of adoption of e-invoicing for both the public and private sector.
  2. The EU should continue to promote greater uniformity and legal clarity in e-invoicing and e-archiving laws and regulations, which should be unambiguous, harmonised and practical to implement. There is a growing trend towards the imposition of additional requirements, typically for real-time reporting of invoices to the tax authorities at Member State level, which is creating new elements of fragmentation.
  3. The new EU core invoice standard (EN) is an important enabling initiative but needs a strong focus on implementation, to ensure its success.
  4. Europe should look outwards and evaluate e-invoicing policy models in other continents for its own use, suitably tailored towards the European Single Market and Digital Agenda.
  5. Policies related to e-procurement and e-invoicing should be solution neutral and recognise the trend towards ‘cloud’ based service and outsourcing models.
  6. EESPA is pleased to participate in a range of legal, policy and implementation-related initiatives.
EESPA Aggregated 2016 Volume Survey

The European E-invoicing Service Providers Association reports a significant growth of 29% and over 1.6 billion processed e-invoices in 2016

The headline results:  1 615 million electronic invoices were processed and delivered in 2016 by members of the European E-Invoicing Service Providers Association (EESPA). This represented a significant growth of 29 per cent over 2015 volumes of 1 252 million. EESPA commissioned this fourth annual survey among its members as part of a continuing commitment

 
Electronic Invoicing Basics
Basics

European Union legislation provides a clear definition of an electronic invoice:

Electronic invoice’ means an invoice that has been issued, transmitted and received in a structured electronic format which allows for its automatic and electronic processing’.

E-invoicing delivers the complete removal of paper from invoicing and its replacement with digital processes. It comes in many forms across the global economy and includes models based on direct connections between contracting parties, or more commonly on the use of networks and service platforms, such as those offered by EESPA Members.

Its ease of implementation can be demonstrated with reference to many successful private and public sector experiences, and to the extensive range of existing market solutions. ‘Big bang’ IT projects are not required and transition costs are modest.

In some countries e-invoicing is motivated by fiscal considerations and the need to improve tax collections. Elsewhere the motive is more about creating efficiency and value through digitization, or a combination.

E-invoicing is growing rapidly in all B2B, B2G and B2C spaces.

Typical Process for e-invoicing
  1. A supplier of goods and services must create, or have created on its behalf, an electronic invoice containing the right information and in a format that can be automatically processed in the system of its buyer.
  2. Such structured e-invoices may be created in a supplier’s own system and delivered directly to the buyer’s system.
  3. Alternatively, a supplier may use a service provider to deliver or create a structured e-invoice from invoice data provided to it, for example, in the following ways:
    • In an electronic data file produced by the supplier and transmitted to its service provider.
    • Through a portal or web-site operated on behalf of the buyer.
    • From data supplied in a machine-generated PDF which has been forwarded to the service provider.
  4. Although this is a less reliable method of automation, the structured invoice could be created from data contained in a paper document, or in a humanly generated PDF, and extracted through scanning and OCR (optical character recognition).
  5. Once the structured e-invoice is created it is then delivered to the buyer by electronic means. In all cases, it is usual that the electronic invoice is validated for completeness and accuracy before being remitted to the buyer’s system. This avoids multiple errors and manual intervention. In turn, a buyer and/or its service provider will perform a number of checks and business approvals before the invoice is processed and paid.

Service providers will present the costs and benefits of these various modalities including their technical implications, their ease of use, and consistency of data integrity. Such solutions are diverse and offered in a highly competitive landscape.

Barriers to e-invoicing

Barriers have been removed, such as:

  • Policy Direction: There is clear policy support at supra-national (e.g. EU) and in most counties.
  • Business case: can be easily demonstrated with reference to quantifiable value
  • Legality: it is perfectly legal and supported by legislation in the countries which dominate the trading universe
  • Interoperability: internet technology and the power of networks have made inter-operation between parties extremely easy.
  • Security and confidentiality: these very important issues are dealt with through commonly available technology and human processes
  • Competence and resources: are available on an affordable and accessible basis.
Benefits

There is a strong business case for e-invoicing adoption.

Many users have been able to reduce invoice processing costs by 50-75%, with a return on investment of over 60% p.a. Independent research suggests that the cost of processing a paper invoice (to the buyer) is around EUR17 per invoice.  Depending on the degree of automation the net benefits can be 4-12 euro per invoice.

The manual processes involved in handling paper invoices are:

  • Labour-intensive
  • Prone to errors, delays and long payment cycles.
  • Liable to potential fraud
  • Likely to create difficulties in achieving accurate audits for all parties.

By moving to a process that handles invoices electronically, buyers and suppliers achieve material cost and efficiency gains by:

  • Removing delivery and print and mailing costs
  • Removing the need to archive paper.

Even more significant cost savings are obtained through:

  • Improved workflow
  • Reduced errors and fraud
  • Accelerated process improvements
  • Economies of scale
  • Potentially faster or more predictable payments
  • Administrative efficiencies
  • Greater transparency built into the whole procure-to-pay cycle.
  • More efficient reconciliation, financial reporting and audit
  • Release of resources for more productive work
  • More satisfied supply chains
  • Environmental benefits

It is recognised that the potential for cost savings is dependent on the degree of automation targeted and delivered. It is important to take the opportunity to maximise automation.

Prepare your business case

When preparing a business case and evaluating the benefits of e-invoicing it is important to gather some facts and figures on the current activities undertaken and use these as a basis for further analysis. Key questions are:

  • Question 1: How many invoices does your organisation currently process to assess the scale of the opportunity?
  • Question 2: How many people/person hours are employed within your accounts payable/receivable function within your organisation to assess the opportunity to save resources?
  • Question 3: What is the cost of processing a paper invoice in your organisation to set the starting point?
  • Question 4: What are your costs and requirements for archiving of invoices given long archiving requirements in tax law?
  • Question 5: What are your opportunities for ‘outsourcing’   to external solutions or ‘shared services to establish your options to make it happen?
  • Question 6: What is the make-up of your customers and suppliers? How many are SMEs to understand the landscape you face?
  • Question 7: What is your current on-time payment performance?  How many (%) invoices are paid on time to assess the scope for improvement?
Implementation

Most e-invoicing projects today start on the buyer side. What follows takes this perspective. A supplier-centric approach is also covered below

Need to consider e-invoicing from the point of view of:

  • The buying organization
  • The suppliers
  • The connection layer, which brings buyer and supplier together

The successful implementation of e-invoicing is not just a technology project. Success stems from the management of people, other stakeholders, business processes and automated IT systems.

Buyer’s key objectives

  • Create commitment and focus at the top
  • Build a project organization to make the change
  • Plan and implement the appropriate systems to achieve automation and integration
  • Align with procurement and payment processes

Supplier engagement- the essential requirement

  • Engagement with suppliers of all sizes
  • On-boarding is key to success
  • Deliver ease of use for all systems and services
e-invoicing models

Connection- bringing it together

Different e-invoicing models provide alternative ways of exchanging e-invoices between buyers and suppliers:

Direct connection between trading parties can be established to exchange invoices, based on acceptable formats. While this e-invoicing model can be easy to implement, it will require new test procedures when the individual suppliers change their IT environment and can be complex and costly to manage.

Three-corner model is an exchange model where senders and receivers of invoices are connected to a single service provider platform or hub for the dispatch and receipt of messages using accepted formats. The key benefit of a 3-corner model is that the service provider can offer a tailored and granular service to both buyers and suppliers, while a drawback is that suppliers can be forced to work with many service providers simultaneously when their customers are using different providers.

Four-corner model is an exchange model where senders and receivers of invoice messages are supported by two service providers, one for the sender and another one for the receiver. The key benefit of a 4-corner model is the freedom for both the buyer and the supplier to choose their preferred service provider. As an example, the OpenPEPPOL network is based on a 4-corner model where Access Point providers ensure the validated exchange of electronic invoices between the trading parties based on agreed standards.

Examples of other e-Invoicing solutions are:.

  1. EDI (Electronic Data Interchange) is the electronic transfer of structured data (commercial and administrative) using agreed message standards, from computer to computer and agreed by two trading parties. There are many EDI standards, some of which address the needs of specific industries or regions.
  2. Web portal (or Supplier portal): a web-based application used for online submission of individual invoices, allowing suppliers to present invoice data to their customers for matching and approval. All transactional information is stored in the buyer’s system (or with a third party service provider). Web portals are also a feature of three-corner and four-corner models.
  3. Shared service centre is a processing centre used by a group or organizations and will often contain an electronic invoicing service platform.
  4. P-card (purchasing card) is a form of company charge card that allows goods and services to be procured without using a traditional purchasing process. P-cards are usually issued to employees who are expected to follow their organization’s policies and procedures (source: Wikipedia). The e-invoice is embedded in the process.
  5. EIPP/EBPP: stand for Electronic Invoice Presentment and Payment, and Electronic Bill Presentment and Payment. They are solutions that combine e-invoicing services and payment services. They are facilitated directly/indirectly by payment service providers and/or e-invoicing service providers, enabling the payer to flexibly receive and manage e-invoices/bills and to pay them with existing payment instruments (i.e. credit transfers, direct debits, card payments) or e-money transactions, without the need to manually copy/paste or type in data for initiating the payment: and enabling the payee to digitize the processing of its invoices/bills and to automatically send them to the payers.

In a supplier centric model, a service provider may work with a supplier with multiple buying customers to select and implement the means of invoice creation and then the optimal channels (including any residual paper invoices) for buyers to be able to receive electronic invoices for the delivery of invoices into the buyer’s system.  

Additional services may be provided by  your e-invoicing service provider such as supply chain finance/invoice discounting, analytics, archiving, e-procurement and payments/remittance advice processing.

EESPA Members are ready to help review these options and the overall approach to e-invoicing adoption.

European Public Administrations

Guidance Paper for Public Administrations – The adoption of e-invoicing in public procurement

Under European Directive 2014/55/EU, public contracting authorities engaged in public procurement will be obliged to support e-invoicing by 2019, or up to 12 months later for smaller authorities based on the adoption of a new e-invoice standard.

The Commission requested that CEN- the European standards organisation through CEN/TC 434- draft a European standard for the semantic data model of the core elements of an electronic invoice.

A ‘semantic data model’ means a structured and logically interrelated set of terms and their meanings that specify the core elements of an electronic invoice.

The Directive does not itself create a mandatory requirement for the parties, contracting authorities and their suppliers, to move to e-invoicing exclusively based on the European standard. Member States may retain e-invoicing based on existing national standards and indeed are not forced to move away from traditional invoicing.

But the arrival of a European standard creates an opportunity for wide harmonization and a concerted process of adoption across national public sectors and the EU as a whole.

There are various ways in which the public sector at national level may wish to implement or further expand the usage of electronic invoicing e.g.:

  • Build on already achieved successes in e-invoicing adoption
  • Establish a national strategy and policy framework whether centralised or decentralised
  • Consider a mandating process to make e-invoicing compulsory to achieve the necessary scale
  • Investigate the use of shared services and integration with the whole e-procurement chain.
  • Aim high for maximal automation rather than just minimum compliance

‘The benefits of electronic invoicing are maximised when the generation, sending, transmission, reception and processing of an invoice can be fully automated. For this reason, only machine-readable invoices which can be processed automatically and digitally by the recipient should be considered to be compliant with the European standard on electronic invoicing. A mere image file should not be considered to be an electronic invoice for the purpose of this Directive’ – Reference  Directive 2014/55/EU

Scope of the Directive 2014/55/EU

The e-Invoice Directive shall apply to electronic invoices issued as a result of the performance of contracts to which Directive 2009/81/EC, Directive 2014/23/EU, Directive 2014/24/EU or Directive 2014/25/EU applies. These govern public procurement.

This Directive does not apply to electronic invoices issued as a result of the performance of contracts falling within the scope of Directive 2009/81/EC, where the procurement and performance of the contract are declared to be secret or must be accompanied by special security measures in accordance with the laws, regulations or administrative provisions in force in a Member State, and provided that the Member State has determined that the essential interests concerned cannot be guaranteed by less intrusive measures.

The interpretation of this article is that only contracts signed as a result of a tendering process, which was above the EU threshold for inclusion in the Official Journal, are covered by Directive 2014/55/EU.

Requirements

A public administration is obliged to accept and process electronic invoices, which comply with the European standard for e-invoicing, whose reference has been published pursuant to Article 3(2) and with any of the syntaxes on the list published pursuant to Article 3(2), from these suppliers.  These invoices must have been issued, transmitted and received in a structured electronic format which allows for its automatic and electronic processing.

Public administration accepting such electronic invoices, and processing the electronic invoice in whatever manner they decide, will be compliant with the provisions of Directive 2014/55 /EU.

Therefore, they cannot refuse electronic invoices which meet the above conditions solely on the grounds of non-compliance with requirements (for example national or sector-specific requirements, or additional technical requirements of any kind) other than those specifically provided for in this Directive.

Timescale

The Directive 2014/55/EU states that Member States shall adopt, publish and apply the laws, regulations and administrative provisions necessary to comply with this Directive at the latest by 27 November 2018.

By way of derogation from paragraph 1, Member States shall, not later than 18 months after the publication of the reference of the European standard on electronic invoicing in the Official Journal of the European Union, adopt, publish and apply the provisions necessary to comply with the obligation contained in Article 7 to receive and process electronic invoices.

Member States may postpone the application referred to in the first subparagraph with regard to their sub-central contracting authorities and contracting entities until 30 months after publication of the reference of the European standard on electronic invoicing in the Official Journal of the European Union at the latest.

Upon publication of the reference to the European standard on electronic invoicing, the Commission shall publish in the Official Journal of the European Union the final date for the bringing into force of the measures referred to in the first subparagraph.

Key features of the new CEN e-invoice standard EN 16931

The new standards consists of the Semantic Model for the core information elements of an electronic invoice, the listed Syntaxes and Methodology, the Syntax Bindings, the Extension Methodology and Transmission Guidelines.   During 2017, users will be able to start work on implementation. The standard is also designed for use in B2B standards. The CEN Technical Committee based its work on a Standardization Request issued by the European Commission and has brought together standards experts over a two year period.

It is based on pre-existing standards, such as CEN BII used in PEPPOL, UBL, UN/CEFACT and EDIFACT rather then re-inventing the wheel. It supports a large number of business processes and use cases. It can be mapped into and out of other common standards and the data models embedded in most service provider platforms.

It has an elegant architecture as it contains a semantic model for the core information elements of an e-invoice i.e. the terms and business meanings used in an invoice. The data model is independent of the technical language in which it is expressed. Given the range of options for information elements provided in the Semantic Model, trading partners may agree on a Core Invoice Usage Specification to specify the exact content of the required information elements, such as transaction/PO references codes and means of payments accepted.

The two nominated syntaxes for which syntax bindings will be provided are UBL and UN/CEFACT. Syntax bindings will also be provided for EDIFACT. There will continue to be a flourishing format conversion requirement, albeit based on consistent semantic terms.

The EN supports fully the EU VAT regime in all its aspects: various VAT rates, exempt and zero-rate transactions. It even can be adapted for certain VAT-like taxes in Member States. The invoice will support the various recognized methods for demonstrating authenticity and integrity such as digital signatures, EDI and Business Controls.

It will be possible to create Extensions to the core invoice to meet specific industry or country needs. Whilst this is a requirement for justified needs, there is a danger of proliferation. A registration and monitoring process is under review.

Given the variety of information elements available, the Core Invoice Usage Specification has been developed allowing buyers to indicate how they wish suppliers to use the information elements and any restrictions on their use. The classic usage here will be for purchase order, contract and other procurement references.

The e-Invoice is designed to be fully integrated into the financial supply chain with backwards compatibility to procurement and forward compatibility with the payment process. A separate industry group is working on a family of Invoice Response and Status messages.

Validation tools are being created, although many service providers will wish to develop their own versions.

A note on visual presentations

The use of the European standard requires the transmission or delivery of a structured invoice compliant with the semantic data model and the syntax bindings. However, it is perfectly possible to present invoice data in a structured electronic format in a human readable representation, such as a PDF or through an automated interface or as a ‘hybrid’ invoice containing both a structured XML element and a PDF, for visualisation and convenience and as a complement to the structured invoice.”

EESPA Compliance Definitions for e-Invoicing

This guide is published by EESPA to define and explain a set of definitions to support legally compliant electronic invoicing (e-invoicing), and provides guidance on their usage in the conduct of customer relationships by service providers.

The EESPA Public Policy and Compliance Working Group (PPCWG) formally started a work stream on compliance during 2016 following a request from Executive Committee and the inclusion of a responsibility for compliance within its terms of reference.

It was agreed to start by focusing on what is encompassed by 'compliance' at both an industry level and from the point of view of individual service providers. For the latter, there is a spectrum of opinion ranging from regarding compliance as an important part of the value proposition for service provider offerings, to a view that it is a subject for clients alone; and various intermediate positions. EESPA remains neutral with regard to these perspectives.

The initial focus was on framing key definitions which are important to the compliance matters. The current document builds on these EESPA compliance definitions through a proposed implementation matrix described as the Responsibility Matrix. This is proposed for use by businesses and their solution providers at their sole discretion and risk.

To download the definitions, enter your contact details here. A mail with a link to the file will be sent to your inbox. Please avoid using free email accounts like yahoo, hotmail, gmail, etc…: 

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This policy was last modified on 21 April 2018

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Billentis The e-invoicing journey 2019-2025 REPORT

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This Guide has been developed in the frame of the Joint Initiative on Standardisation within JIS Action 11 ‘Pilot Project on Increased use of Standards in Public Procurement to better implement the public procurement Directives’, under the leadership of the Swedish Standards Institute (SIS), and has been financed by the European Commission. The Guide has been drafted with

WHITE PAPER: TAX-COMPLIANT GLOBAL ELECTRONIC INVOICE LIFECYCLE MANAGEMENT

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Billentis report 2017 E-invoicing – E-Billing Significant market transition lies ahead

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Guidance paper for EU public administrations – The adoption of e-invoicing in public procurement

This document was prepared by an Activity Group of the European Multi-Stakeholder Forum on e-invoicing (EMSFEI) focused on the adoption of e-invoicing in public procurement and endorsed by the EMSFEI on 21 March 2016. This Guidance Paper is addressed to all those involved in the implementation of electronic invoicing in public procurement. It supports public sector entities throughout

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Tax-compliant global electronic invoice lifecycle management

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Important links

 

e-invoicing Directive 2014/55/EU transposition

The definition of a common European standard on electronic invoicing is expected to facilitate the creation and processing of eInvoices for cross-border transactions. The CEN Technical Committee on Electronic Invoicing (CEN TC434) has the mandate to define the European standard on electronic invoicing by 2017 with the assistance of the European Commission and Member States. According to the eInvoicing Directive, it will be mandatory for all public entities to receive and process eInvoices complying with the European standard 18 months after the publication of the common European Standard and the list of syntaxes. This deadline is binding for central authorities. For public entities at local and regional level it can be extended to 30 months upon a country’s request, to give them additional time to comply with the eInvoicing Directive.

Figure 1 presents a timeline for the transposition of the eInvoicing Directive.

 

 

 

 

EESPA Glossary

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  • a

  • Access Point
    in the Global Interoperability Framework, and more generally, is used to describe a service provider acting as the connection point for its customers to a network and potentially offering a(...) - Read more

  • Account Information Service Provider (AISP)
    An authorised entity that provides aggregation services related to payment accounts such as bank accounts. PSD2 allows AISPs authorised access to bank account data through an API. - Read more

  • Account Servicing Payment Service Provider (ASPSP)
    Payment Service Provider (PSP) (bank or card issuer) that provides authorised access to bank account information. For PSD2 they are allowing API access to bank account data for AISPs and PISPs. - Read more

  • Accounts Payable
    are monies owed by a customer to its suppliers arising in the normal course of business from the delivery of goods and services. They are usually represented by outstanding invoices. - Read more

  • Accounts Receivable
    are monies owed to a supplier by its customers arising in the normal course of business from the delivery of goods and services. They are usually represented by outstanding invoices. - Read more

  • Acknowledgement of Receipt
    A documented verification that goods have been received or services have been rendered. Typically, the acknowledgement is indicated by the recipient's signature on a receipt or form. - Read more

  • Adherence Agreement
    in the EESPA Multilateral Framework Agreement (MIFA) is an agreement entered into with another framework participant to agree the business profile of documents to be exchanged, and any specific(...) - Read more

  • Advanced Electronic Signature
    is an electronic signature that has met the requirements set forth in EU Regulation No 910/2014 (e-IDAS-regulation) on electronic identification and trust services for electronic transactions in(...) - Read more

  • Aggregator
    a service model whereby invoices from/to multiple senders are received at/sent from a single point of contact, acting as a service provider; sometimes referred to as a consolidator. - Read more

  • Allowance or Charge Information
    A group of information elements setting out details of allowances, or charges and taxes other than VAT, applicable to an individual invoice line item in an invoice. - Read more

  • Application Programming Interface (API)
    A set of programming that are available for software developers when they integrate with a particular service or application. - Read more

  • Archiving
    data archiving is the process of moving completed transactional data to a separate storage device or location for long-term retention. Archived data consists of data that is still important to(...) - Read more

  • AS2
    stands for Applicability Statement 2 and is a commonly used specification about how to transport data securely and reliably over the Internet. Security is achieved by using digital certificates(...) - Read more

  • AS4
    is an open standard for the secure and payload-agnostic exchange of business-to-business documents using web services. Secure document exchange is governed by aspects of web services security,(...) - Read more

  • AS4 Receipt
    the synchronous response on an AS4 request which corner 3 ( receiver’s service provider) returns to corner 2 ( sender’s service provider) in a four-corner model network to acknowledge receipt of(...) - Read more

  • Attachment
    refers to a document or dataset provided or archived in addition to an invoice containing supporting information such as expense details. It may also refer to the practice of rendering a PDF(...) - Read more

  • Audit
    is a systematic and independent examination by an auditor, whether external or internal, or a regulator of the books, accounts, and documents of an organization to ascertain how far the(...) - Read more

  • Audit Trail
    is a chronological record that provides documentary evidence of the sequence of activities that have affected at any time a specific operation, procedure, transaction or event. The auditing of(...) - Read more

  • Audit Trail or Log
    is a chronological record that provides documentary evidence of the sequence of activities that have affected at any time a specific operation, procedure, transaction or event. The auditing of(...) - Read more

  • Authenticity and Integrity
    ‘Authenticity of the origin’ means the assurance of the identity of the supplier or the issuer of the invoice and ‘Integrity of content’ means that the required invoice content has not been(...) - Read more

  • Automated Clearing House (ACH)
    An electronic clearing system in which payment orders are exchanged amongst participants and handled by a data-processing centre. - Read more

  • b

  • B2b
    are business dealings between a large business and small businesses (SMEs). - Read more

  • B2C
    is business for the provision of goods, services and information conducted directly between a company and consumers who are its end-users. - Read more

  • B2G
    is business-to-government (a variation of the term B2B), and refers to the exchange of goods, services or information between a business supplier and a public procuring entity. - Read more

  • Business controls
    are internal controls to oversee the correctness and veracity of all financial, transactions and operational elements of an organization. In the context of electronic invoicing it often refers(...) - Read more

  • Business Payments Coalition (BPC)
    is a volunteer group of organisations and individuals facilitated by the Federal Reserve Bank of Minneapolis working together to promote greater adoption of electronic business-to-business(...) - Read more

  • Business process
    is a collection of structured and related activities or tasks that produce specific products or services, or deliver a defined goal for customers or the internal components of an organization. - Read more

  • Buyer or Receiver
    is a buyer of goods and services from a supplier or seller. An invoice issued by the seller is issued to the buyer, who is therefore the receiver of the goods and services, and the receiver of(...) - Read more

  • c

  • CEF e-Delivery
    is an EU building block that provides technical specifications and standards, installable software and ancillary services to allow projects to create a network of nodes for secure digital data(...) - Read more

  • CEN
    is the European Committee for Standardization, an association that brings together the National Standardization Bodies of 33 European countries. CEN is one of three European Standardization(...) - Read more

  • CEN BII
    CEN BII standardises e-Procurement processes, documents and content, supporting EU-wide interoperability, and covering the full procurement cycle, from notification in the pre-award phase, to(...) - Read more

  • CEN TC/434
    was launched in September 2014 as a project and then a technical committee operating within CEN governance, with responsibility for developing standards in support of European e-invoicing based(...) - Read more

  • CEN TC/440
    was launched in 2016 operating as a technical committee within CEN governance and responsible for developing standards in support of electronic public procurement including both pre-award and(...) - Read more

  • Certification (Certificate) Authority
    a certificate authority or certification authority (CA) or Certificate Service Provider is an entity that issues digital certificates. A digital certificate certifies the ownership of a public(...) - Read more

  • Chorus
    is a Portal for the submission of e-invoices to the French State and public sector organizations. - Read more

  • Clearance Model
    There are currently two types of regime for electronic invoicing compliance reporting. The 'post audit' approach translates requirements from paper-based invoicing to electronic flows, allowing(...) - Read more

  • Cloud computing
    the practice of using a network of remote servers hosted on the Internet to store, manage, and process data and provide services of all kinds, rather than using software installed on a local(...) - Read more

  • Code list
    A code list is a predefined list from which some statistical coded concepts take their values. Each code list has the following properties: a) identifier (it provides a unique identification(...) - Read more

  • Commercial Invoice
    is one of the main types of invoice issued by commercial enterprises and will relate to transactions for the provision of goods and services between buyers and sellers and where shipment has(...) - Read more

  • Compliance
    The term ‘compliance’ is used in many ways in business practice, for example ‘compliance’ may refer to complying with law, or complying with established business rules or contractual conditions.(...) - Read more

  • Compliance Definitions
    requirements for legally compliant e-Invoices issued by EESPA to its Members and all interested parties. See listing below and download the definitions here: - Read more

  • Compliance Definition 1: Applicable VAT law
    are VAT requirements for correctly selecting the jurisdiction(s) which will govern the main aspects of e-invoice compliance. - Read more

  • Compliance Definition 2: VAT rate selection
    are requirements for noting and applying the correct VAT, withholding, luxury or other applicable indirect tax rate for a supply in an invoice, where necessary accompanied by the correct(...) - Read more

  • Compliance Definition 3: VAT minimum invoice content
    are VAT requirements for the information that must be contained within an invoice. (Article 226 of the VAT Directive [2006. 112. EC]). - Read more

  • Compliance Definition 4: Non-VAT content requirements
    are legal requirements arising from commercial or procurement law or other legal instruments regulating the content of certain commercial documents such as invoices; this specifically includes(...) - Read more

  • Compliance Definition 5: Computational integrity
    are both the requirement for accuracy in the process of mathematical calculation, and any relevant national or local rules applied to processes such as rounding rules, as well as correct(...) - Read more

  • Compliance Definition 6: E-invoicing notification or prior approval
    are VAT requirements concerning the notification of or request for prior approval for using invoices in electronic format to a competent tax administration. - Read more

  • Compliance Definition 7: Invoice file format
    are requirements for the technical file format (syntax) of the fiscally valid invoice that is exchanged between the trading partners, or the invoice data to be communicated to the tax(...) - Read more

  • Compliance Definition 8: Paper invoice dematerialisation
    are VAT requirements for the correct transformation of a paper invoice into an electronic invoice. - Read more

  • Compliance Definition 9: Electronic invoice exchange
    are requirements for the correct technical and IT security exchange or receipt of e-invoices between trading partners or their service providers, including putting in place the necessary(...) - Read more

  • Compliance Definition 10: Integrity and authenticity
    are VAT requirements for ensuring and being able to demonstrate integrity of the invoice data and authenticity of the origin of an electronic invoice. - Read more

  • Compliance Definition 11: Legibility
    are VAT requirements for an electronic invoice to be capable of being rendered human-readable during its legal lifetime in case of tax administration audit. - Read more

  • Compliance Definition 12: Archiving
    are VAT requirements for the storage of electronic invoices and any associated evidence, including requirements for the format of the stored invoice, the components to be stored, duration of(...) - Read more

  • Compliance Definition 13: Storage
    are VAT requirements to notify a competent tax administration of e-invoices being physically stored in another country from the country whose VAT law applies to the storage of that invoice and(...) - Read more

  • Compliance Definition 14: Buyer consent requirements
    are VAT requirements for obtaining the buyer’s (express or implied) agreement to receive invoices in electronic format, where required. - Read more

  • Compliance Definition 15: Mandatory interchange agreement
    are VAT requirements for the execution and maintenance of an electronic data interchange agreement between the supplier and the buyer, in accordance with relevant regulatory provisions. It is(...) - Read more

  • Compliance Definition 16: Third party issuance
    are VAT requirements for the supplier’s authorization to, and where applicable the acceptance thereof by, a third party such as its service provider to issue fiscally valid electronic invoices(...) - Read more

  • Compliance Definition 17: Third party receipt and validation agreement
    are VAT requirements for the buyer’s authorization to, and where applicable the acceptance thereof by, a third party such as its service provider to receive and ensure indirect tax compliance(...) - Read more

  • Compliance Definition 18: Invoice clearance
    are VAT requirements for trading partners at various stages of an invoicing transaction to communicate the invoice, in whole or as a subset or a reference to the invoice, to a service hosted by(...) - Read more

  • Compliance Definition 19: Real-time reporting
    are VAT requirements for the supplier, the buyer or both trading partners to communicate the invoice, in whole or as a subset or a reference to the invoice, to a tax administration-designated(...) - Read more

  • Compliance Definition 20: Real-time authentication
    are VAT requirements for the use of clearance or real-time reporting service access credentials and/or the application or validation of an electronic or digital signature to an electronic(...) - Read more

  • Compliance Definition 21: On-request e-audit
    are VAT requirements for a taxable person to be able to extract and present electronic invoices in a predefined format upon the explicit request of a competent tax administration. - Read more

  • Compliance Definition 22: On-request reporting
    are VAT requirements for the reporting or declaration of VAT on an aggregated and/or detailed level on ad hoc basis upon the explicit request of a competent tax administration. - Read more

  • Compliance Definition 23: Periodic reporting
    are VAT requirements for the reporting or declaration of VAT on an aggregated and/or detailed level on a monthly or other periodic basis. - Read more

  • Compliance Definition 24: Data privacy
    e.g. the GDPR requirements to ensure correct and secure processing of personal and sensitive data by (i) the contracted service provider and (ii) the receiving party (either the buyer or the(...) - Read more

  • Connecting Europe Facility
    the Connecting Europe Facility (CEF) supports initiatives in the sectors of transport, telecommunications and energy. The telecommunications part of CEF is dedicated to Digital Service(...) - Read more

  • ConnectONCE
    is the Open Network for Commerce Exchange (USA), a collaborative forum for B2B e-Commerce. - Read more

  • Contract Reference
    is a reference in an invoice to a pre-existing contract between buyer and seller to identify the context for the supply of goods and services covered by an invoice. - Read more

  • Contracting authority or entity
    is an organization forming part of the public sector carrying out public procurement activities. - Read more

  • Core elements of an electronic invoice
    in the semantic model for the European Norm 16931, these are the component terms and meanings of a core invoice issued in compliance with the European Norm. - Read more

  • Core Invoice Usage Specification (CIUS)
    is a specification that provides a seller with detailed guidance, explanations and examples, as well as business rules related to the actual implementation and use (or restriction of use) of(...) - Read more

  • Credit Institution or Bank
    Any institution that is either (i) a business that receives deposits or other repayable funds from the public and grants credit for its own account, or (ii) a business or any other legal person,(...) - Read more

  • Credit Note
    a credit note is a commercial document issued by a seller to a buyer following the creation of the invoice in circumstances where there is a mistake or fault in goods and service delivered by(...) - Read more

  • Credit Transfer
    is a means of payment whereby a single or a bulk payment is made electronically from one bank or payment account to another bank or payment account at the initiation of the payer. - Read more

  • CSV
    a file format based on comma-separated values. - Read more

  • CTC (Continuous Transaction Controls)
    A form of transaction-based reporting or clearance either based on the actual invoice or on a subset of the invoice. Governments have increasingly implemented cloud-managed services to improve(...) - Read more

  • Customer or client
    the buyer or receiver of goods and services from a seller for whom such a party is their customer or client. - Read more

  • cXML
    stands for commerce extensible mark-up language and is a protocol, created by Ariba in 1999, intended for communication of business documents between procurement applications, e-commerce hubs(...) - Read more

  • d

  • D-U-N-S
    is the Data Universal Numbering System or D-U-N-S® Number, Dun and Bradstreet’s (D&B) copyrighted, proprietary means of identifying business entities on a location-specific basis. Assigned and(...) - Read more

  • Data
    as defined in the Global Interoperability Framework (GIF), is the business content that needs to be conveyed between parties. This data could be virtually anything in terms of the information(...) - Read more

  • Data Protection
    is the process of protecting personal data. It involves the collection and dissemination of data in automated systems, the public expectations of data privacy, and the political and legal(...) - Read more

  • Debit Note
    is a commercial document issued by a buyer to a seller as a means of formally requesting a credit note. A seller might also issue a debit note instead of an invoice to adjust upwards the amount(...) - Read more

  • Delivery
    as defined in the Global Interoperability Framework (GIF) is the fundamental means of electronic transport or network based on protocols and technical artefacts, which permits interoperability(...) - Read more

  • Delivery Note
    is a document accompanying a shipment of goods that lists the description and quantity of the goods delivered. A copy of the delivery note, signed by the buyer or consignee, may be returned to(...) - Read more

  • Digital Certificate
    is an electronic document used to ’bind’ the identity of a natural or legal person to a public key. The certificate includes information about the key, information about its owner's identity,(...) - Read more

  • Digital Signature
    A digital signature guarantees the authenticity of an electronic document or message in digital communication and uses encryption techniques to provide proof of integrity of the signed data. - Read more

  • Direct Debit
    a means of payment whereby a third party is authorized to collect single or regular payments directly from a bank or payment account owned by its customer or debtor under the terms of a mandate(...) - Read more

  • Directive 2006/112/EC
    is a recast of the 6th EU VAT Directive of 17 May 1977 on the harmonization of the laws of the Member States relating to turnover taxes. It provides for a common system of value added tax, and a(...) - Read more

  • Directive 2010/45/EC
    is an EU VAT (value-added tax) Directive amending Directive 2006/112/EC, in which, inter alia, rules for establishing the authenticity, integrity and archiving of electronic invoices are set out. - Read more

  • Directive 2014/55/EU
    is an EU Directive establishing that all contracting entities in the public sector across the EU must be able to receive and process electronic invoices based on a new European Norm (Standard). - Read more

  • Directives
    in general is a type of EU legislative instrument, but, in the Global Interoperability Framework (GIF), the term is used colloquially to denote the legislative, regulatory and governance(...) - Read more

  • Directives 2014/ 23-24-25/EU
    are EU Directives establishing the framework for electronic public procurement in the EU. - Read more

  • Discovery
    as defined in the Global Interoperability Framework (GIF) describes the basis on which information about a trading party is accessible to another trading party usually facilitated by their(...) - Read more

  • Dispatch (or Despatch) advice
    : is a document sent by a supplier to a buyer that states the description, type, and quantity of goods that have been sent to them: The dispatch advice enables the seller or shipper to provide(...) - Read more

  • DPO
    is Days Payable Outstanding, an efficiency ratio that measures the average number of days a company takes to pay its suppliers. The calculation is carried out by dividing the accounts payable as(...) - Read more

  • DSO
    is Days Sales Outstanding, an efficiency ratio that measures the average number of days a company takes to collect outstanding invoices from its customers. The calculation is carried out by(...) - Read more

  • Dynamic discounting
    : is a service that gives buyers more flexibility to choose how and when to pay their suppliers in exchange for a lower price or discount for the goods and services purchased. The ‘dynamic’(...) - Read more

  • Dynamic Discovery
    enables a sending access point at corner 2 in a four corner model to dynamically discover the IP address and receiving capabilities of the receiver at corner 4. The sender consults a Service(...) - Read more

  • Dynamic Sender
    are capabilities based on a Trust Model using a PKI (Public Key Infrastructure) and include the security controls to be implemented between corners 2 and 3 in a four-corner model. A dedicated(...) - Read more

  • e

  • E-billing
    is an expression used in the e-invoicing environment to refer to B2C billing such as for utilities and digital services. Some also use it simply as a synonym for e-invoicing, and others to(...) - Read more

  • E-Business
    is the conduct of business of all kinds over the Internet and is often used as a synonym for e-Commerce. Some prefer to confine the term e-Business to B2B/B2G transactions. - Read more

  • E-Catalogue
    is an online presentation for displaying information about a product line or service offering. It can consist of pictures with captions, features, tables, audio explanations, videos and(...) - Read more

  • E-Commerce
    is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the Internet. These business transactions occur either as(...) - Read more

  • e-IDAS
    stands for EU Regulation 910/2014 on electronic identification and trust services for electronic transactions in the European internal market. It repeals Directive 1999/93/EC. In addition to the(...) - Read more

  • E-Procurement
    are activities carried out by a buying or contracting entity for the purchase of supplies, work, and services based on automated electronic processes through the Internet or other information(...) - Read more

  • e-SENS
    is the Electronic Simple European Networked Services, an EU project or Large Scale Pilot launched within the ICT Policy Support Programme, under the Competitiveness and Innovation Framework(...) - Read more

  • EANCOM
    is a leading international standard for the computerized interchange of data and is based on UN/EDIFACT. It is designed for use within supply chains and in its structures the GS1 business(...) - Read more

  • Early (or Prompt) Payment Discounts
    a commercial arrangement between buyer and seller, where the early payment of invoices are funded from a buyer’s own stock of liquidity in return for a fixed or dynamic discount. - Read more

  • EBA Clearing
    A bank-owned provider of pan-European payment infrastructure solutions, established in June 1998 by 52 major European and international banks. Currently, EBA CLEARING counts 53 shareholder banks(...) - Read more

  • ebXML
    is a project to use the Extensible Mark-up Language (XML) to standardize the secure exchange of business data. The United Nations body for Trade Facilitation and Electronic Business Information(...) - Read more

  • EDI
    is the transfer of data from one computer system to another by using standardized messages, without the need for human intervention. Originally the essence of EDI was based on point-to-point(...) - Read more

  • EDIFACT
    stands for Electronic Data Interchange for Administration, Commerce and Transport. It is accepted as the international EDI standard that has been adopted by organisations wishing to trade in a(...) - Read more

  • EESPA
    is the European E-invoicing Service Providers Association. - Read more

  • EIN
    is the EESPA Interoperability Network - Read more

  • EIPP/EBPP
    stands for Electronic Invoice Presentment and Payment, or Electronic Bill Presentment and Payment. They are solutions that combine e-invoicing services and payment services. They are facilitated(...) - Read more

  • Electronic Address Identifier
    Unique digital address used by a trading party for the routing of digital documents and messages. - Read more

  • Electronic invoice (or E-invoice)
    according to EU regulations, is an invoice, which has been issued, transmitted and received in a structured electronic format, allowing for automated electronic processing. Some market(...) - Read more

  • Electronic invoicing (or E-invoicing)
    is used as an umbrella term to describe any method by which an invoice is electronically created and presented to a customer for payment to be made following an automated process. E-invoicing(...) - Read more

  • Electronic Money Institution (EMI)
    A term used in EU legislation to designate credit institutions which are governed by a simplified regulatory regime because their activity is limited to the issuance of electronic money and the(...) - Read more

  • Electronic Registered Delivery Service (ERDS)
    Electronic registered delivery service means a service that makes it possible to transmit data between third parties by electronic means and provides evidence relating to the handling of the(...) - Read more

  • Electronic Routing Address
    The electronic routing address associated with an Electronic Address Identifier that defines the service provider/access point or platform that supports the routing and processing of digital(...) - Read more

  • Electronic signature
    is a general expression for any type of electronically generated signature on a message or document transmitted electronically. They range from facsimile signatures to the more secure Digital(...) - Read more

  • EN-16931
    is a European standard for a core invoice and is published in a number of parts:
    • Semantic data model of the core elements of an electronic invoice (the European Norm).
    • List of syntaxes that(...)
    - Read more

  • EN-16931-EXT-EESPA
    an extension for use within the EESPA Interoperability Network (EIN), that is conformant with the Extension methodology specified in the EN-16931 documentation. - Read more

  • Entity Identifier
    Unique digital identifier of a trading party or business entity. This can be a Legal Entity Identifier or another convenient and recognisable identifier - Read more

  • ERP system
    is business process management software that allows an organization to use a system of integrated applications to manage the business and automate many back office functions such as procurement,(...) - Read more

  • European Interoperability Framework 2.0
    is a set of recommendations which specifies how administrations, businesses and citizens communicate with each other within the EU and across Member State borders. It specifies layers of(...) - Read more

  • European Model EDI Agreement
    specifies the legal terms and conditions under which the parties conducting transactions by the use of electronic data interchange (EDI) operate. It was issued as a Commission Recommendation(...) - Read more

  • European Multi-Stakeholder Forum on e-Invoicing
    brings together delegates from national e-invoicing forums and other key stakeholders. Its objective is to help pave the way for a broad-scale adoption of e-invoicing at both national and(...) - Read more

  • European Norm
    Semantic data model of the core elements of an electronic invoice. - Read more

  • Extension
    EN-16931 envisages requirements for trading parties to extend the core invoice model and the related business rules and code lists, in order to support business use-cases that are specific to(...) - Read more

  • f

  • Factoring
    is a form of receivables finance or purchase, in which sellers of goods and services sell their receivables (represented by outstanding invoices) at a discount to a finance provider (commonly(...) - Read more

  • Financial Supply Chain
    is the chain of financial processes, risk and liquidity management decisions, events and activities that provide financial support to the physical supply chain. - Read more

  • FinTech
    is the use of digital innovation and technology-enabled business model innovations in the financial sector (by existing and new players). It aims to increase customer benefits in terms of(...) - Read more

  • Format conversion or transformation
    in e-invoicing is the process by which a structured e-invoice is converted from one technical representation or syntax to another, while not altering its business or semantic content. It may(...) - Read more

  • Format or File Format
    is a standard way that information is technically represented or encoded in a computer file. File formats may be either proprietary or free and may be either unpublished or open. In e-invoicing(...) - Read more

  • Four Corner Model
    is a model for interoperability in which the seller and buyer are not using the same service provider. The service providers or a party providing a ‘self-service’, in turn inter-operate with(...) - Read more

  • FTP
    refers to the File Transfer Protocol, a standard network protocol used to transfer computer files from one host to another host over the Internet. FTP is built on a client-server architecture(...) - Read more

  • g

  • GLN
    a Global Location Number (GLN) is used by companies to identify their locations with the flexibility to identify any type or level of location within specifications provided by GS1. - Read more

  • Global Interoperability Framework (GIF)
    is a set of recommended practices, policies, standards and guidelines that enables the exchange of e-Invoices, and other supply chain documents and messages independently of adjacent payment,(...) - Read more

  • Goods for resale
    are goods acquired by enterprises, such as wholesalers and retailers, for the purpose of reselling them without further processing (that is, not transformed other than by presenting them in ways(...) - Read more

  • Goods not for resale
    are purchased by enterprises for consumption by internal business units or functions rather than the external customer. Such indirect procurement categories include: marketing related services,(...) - Read more

  • GS1 (Global Standards One)
    is a not-for-profit standards organization that manages the assignment of various numbering schemes for global commerce. Active in the world of supply chains in retail, healthcare, transport and(...) - Read more

  • h

  • Header
    refers to supplemental data placed at the beginning of a block of data being stored or transmitted. In data transmission, the data following the header (or ‘envelope’) is often called the(...) - Read more

  • HTML
    is Hyper Text Mark-up Language (HTML) is the standard mark-up language for creating web pages and web applications. With Cascading Style Sheets (CSS), and JavaScript, it forms a triad of(...) - Read more

  • Hybrid Invoice
    is method of embedding structured electronic invoice inside a PDF, using the PDF A/3 format. It is often called a 'hybrid' invoice, as it includes both a structured and a human readable(...) - Read more

  • i

  • IBAN
    is an internationally agreed system of identifying bank accounts across national borders to facilitate the communication and processing of cross border transactions with a reduced risk(...) - Read more

  • ICT
    stands for Information and Communications Technology. - Read more

  • Identifier
    is the unique name or code (e.g. alphanumeric) for variables, attributes, methods, classes, packages and interfaces. Unlike literals they are not the things themselves, just ways of referring to(...) - Read more

  • Information element
    in the European Norm for the semantic model of the core elements of an e-invoice, it is semantic concept (e.g. a business term or component of an invoice) that can be defined independently of(...) - Read more

  • Instant Payments
    Instant payments are electronic retail payment solutions available 24/7/365 and resulting in the immediate or close-to-immediate interbank clearing of the transaction and crediting of the(...) - Read more

  • Internet Protocol
    The Internet Protocol (IP) (or TCP/IP- Transmission Control Protocol/Internet Protocol) is the method or protocol by which data is sent from one computer to another on the Internet. - Read more

  • Interoperability
    !-- wp:paragraph --

    is defined as the ability of a seller or a buyer together acting as trading parties to exchange compliant e-invoices and other supply chain electronic messages containing(...)

    - Read more

  • Invoice
    is a detailed summary of goods and services provided or rendered by a seller to a buyer. It is a demand for payment on specified terms, and often establishes a tax liability in respect of VAT or(...) - Read more

  • Invoice Finance
    a sub-set of Supply Chain Finance, including a variety of techniques related to financing of invoices such as Receivables/Invoice Discounting, Factoring, Payables Finance and Loans or Advances(...) - Read more

  • Invoice issue date
    the date when an invoice was issued. It may or may not be the value-added tax point date. - Read more

  • Invoice number
    is the sequential number required in Article 226(2) of the Directive 2006/112/EC, to uniquely identify an invoice within the business context, time-frame, operating systems and records of the(...) - Read more

  • Invoice or receivables discounting
    is a form of receivables purchase, flexibly applied, in which sellers of goods and services sell individual or multiple receivables (represented by outstanding invoices) to a finance provider at(...) - Read more

  • Invoice Response (IR)
    a message which corner 4 (receiver or buyer) issues to corner 1 (sender or seller) in a four-corner model through corners 3 (receiver’s service provider) and corner 2 (sender’s service provider)(...) - Read more

  • Invoice response or status message
    is a message sent by a buyer or a service provider on its behalf to the seller indicating that an invoice has been accepted or rejected, or providing other status information. - Read more

  • ISO
    is the International Organization for Standardization, an international standard-setting body composed of representatives from various national standards organizations. ISO is well known for the(...) - Read more

  • l

  • Line item or data
    is usually the bulk of the body section of an invoice which is made up by line items. Line items name or describe the individual or groups (items) of goods sold or services rendered, the cost(...) - Read more

  • Loans or Advances against receivables
    financing made available to a party involved in a supply chain on the expectation of repayment from funds generated from current or future trade receivables and is usually made against the(...) - Read more

  • m

  • Master data
    represents the business objects which are agreed on and shared across the enterprise. It can cover static reference data, transactional, unstructured, analytical, hierarchical, and ‘meta’ data.(...) - Read more

  • Message Level Response (MLR)
    a message which corner 3 (receiver’s service provider) issues to corner 2 (sender’s service provider) in a four-corner model to confirm the validity of the received payload message containing(...) - Read more

  • Metadata
    is ‘data [information] that provides information about other data’. Three distinct types of metadata exist: structural metadata, descriptive metadata, and administrative metadata. OpenPEPPOL(...) - Read more

  • MIA
    the EESPA Model Interoperability Agreement which provides a legal and operational template for the documentation of bilateral interoperability agreements between service providers. - Read more

  • MIFA
    the EESPA Multilateral Interoperability Framework Agreement which specifies common standards and practices for interoperability between EESPA Members. - Read more

  • n

  • Negative Invoice
    is a type of credit note also referred to as a "negative balance invoice." It may be issued as a normal commercial invoice containing both current sales items and a credit for items being reversed. - Read more

  • o

  • OASIS
    is the Organization for the Advancement of Structured Information Standards (OASIS) and is a global non-profit consortium that works on the development, convergence, and adoption of standards(...) - Read more

  • OFTP2 (ODETTE)
    OFTP2 from ODETTE is a global standard for securely exchanging file data over the Internet. ODETTE International is the European standards organization for the automotive industry. - Read more

  • Open Banking
    Financial term covering the use of open-source technologies to enable third-party developers to build financial applications and related services that change the way people and businesses(...) - Read more

  • OpenPEPPOL Association
    is a membership association responsible for the governance and maintenance of the PEPPOL specifications. - Read more

  • Order-to-Cash
    is the business process for receiving and processing customer sales. It follows the sales opportunity, order, delivery, invoice and payment, and covers both business-to-business (B2B) and(...) - Read more

  • p

  • Payables Finance
    is provided through a buyer-led program within which sellers in the buyer’s supply chain may access finance by means of receivables purchase. The technique provides a seller of goods or services(...) - Read more

  • Payee and Payer
    the payee is the receiver of funds due under an invoice and is usually the seller but may be a third party such as a finance provider that has purchased the receivable (factoring), or a related(...) - Read more

  • Payment Initiation Service Provider (PISP)
    A regulated entity that allows customers to initiate payments without the customer needing to directly access their bank account or use a debit or credit card. PSD2 allows PISPs authorised(...) - Read more

  • Payment Institution
    The concept created by the enactment of the first Payment Services Directive. A payment institution can offer customers a range of payment-related services that are defined in the directive.(...) - Read more

  • Payment Integration Services
    A broad category, covering a wide range of opportunities to provide the closer integration of e-invoicing with payment flows, payment reconciliation, and transaction-based reporting and(...) - Read more

  • Payment instruction or order
    is the set of instructions or an order addressed by a payer to a bank or payment service provider containing a request for a payment and related details. It will include the remittance(...) - Read more

  • Payment instruction or order
    is the set of instructions or an order addressed by a payer to a bank or payment service provider containing a request for a payment and related details. It will include the remittance(...) - Read more

  • Payment Services Directive 2 (PSD2)
    is an EU Directive (2015/2366/EU) which builds on the legislative framework established by PSD 1. It acknowledges the rise of payment-related ‘FinTech’ companies and aims to create a level(...) - Read more

  • Payment Services Directive (PSD 1)
    is an EU Directive dealing with Payment Services. PSD1 (2007/64/EC) is designed to: help develop the Single Euro Payments Area (SEPA); set common standards for terms and conditions; regulate(...) - Read more

  • PDF
    Portable Document Format'  is a file format used to present documents in a manner independent of application software, hardware, and operating systems. Each PDF file encapsulates a complete(...) - Read more

  • PEPPOL
    stands for Pan-European Public Procurement On-line and is a set of specifications and capabilities for the secure exchange of procurement and invoicing messages between public bodies (and(...) - Read more

  • PEPPOL Transport Infrastructure Agreements
    are agreements between parties implementing the PEPPOL specifications for transporting messages between access point providers. The parties involved are PEPPOL Authorities, PEPPOL Access Point(...) - Read more

  • Physical Supply Chain
    is a term used to describe the totality of the organization, systems, people, activities, information, and resources involved in moving a product or service from supplier to a buyer. - Read more

  • PKI
    is a public key infrastructure (PKI), which is a set of roles, policies, and procedures needed to create, manage, distribute, use, store, and revoke digital certificates and manage public-key(...) - Read more

  • PO Flip
    is the conversion of a Purchase Order into an invoice by a supplier using tools provided by a service provider or an application. - Read more

  • Portal (or Web portal)
    is generally synonymous with ‘gateway’ and refers to a website that often serves as the single point of access for information, for example a website that users tend to visit as an anchor site(...) - Read more

  • Pre-payment invoice
    is an invoice used to request advance payments from customers in respect of a supply of goods and services. It specifies the amount to be prepaid on a sales order, which become deposits in(...) - Read more

  • Pro-forma invoice
    is a preliminary draft of an invoice sent to buyers in advance of a shipment or delivery of goods or services. Typically, it gives a description of the items concerned and notes the amounts to(...) - Read more

  • Public procurement
    is the acquisition of works, supplies and services by public bodies or contracting entities. It ranges from the purchase of routine supplies or services to formal tendering and placing contracts(...) - Read more

  • Purchase card or Purchasing card (also P-Card)
    is a form of charge card (usually a credit card) that allows goods and services to be procured by the employees of businesses and public bodies without using a traditional purchasing process.(...) - Read more

  • Purchase Order
    A buyer-generated document that authorizes a purchase transaction. When accepted by the seller, it becomes a firm order and a contract binding on both parties. A purchase order sets out the(...) - Read more

  • Purchase Order Finance
    a loan provided by a finance provider to a seller of goods and/or services for the sourcing, manufacturing or conversion of raw materials or semi-finished goods into finished goods and/or(...) - Read more

  • Purchase-to-Pay or Procure-to-Pay
    is the process and supporting systems that automate the purchase-to-payment chain of activities, connecting procurement and invoicing operations through an intertwined business flow that(...) - Read more

  • q

  • Qualified Electronic Signature
    is an electronic signature that is compliant to EU Regulation No 910/2014 (eIDAS Regulation) for electronic transactions within the internal European market. It enables parties to verify the(...) - Read more

  • r

  • Receivables Purchase
    is a form of receivables finance and includes techniques such as receivables discounting, forfaiting, factoring, and payables finance. In all cases the finance provider purchases the receivable(...) - Read more

  • Reference data model
    reference data is any kind of data that is used solely to categorize other data found in a database, or solely for relating data in a database to information beyond the boundaries of the(...) - Read more

  • Remittance advice
    is a notification sent by a customer to a supplier, to inform the supplier that their invoice has been paid. - Read more

  • Remittance Information
    is a reference issued by the seller used to establish a link between the payment of an invoice and the invoice instance. The reference helps the seller to assign an incoming payment to the(...) - Read more

  • Request-To-Pay (RTP)
    Request to Pay is a secure messaging framework. It is an overlay on top of existing payment infrastructure and a flexible way to manage and settle bills between businesses, organisations and(...) - Read more

  • Response Message
    see Invoice response and status message. - Read more

  • Reverse billing or invoicing
    is an invoicing process whereby by agreement the customer prepares the supplier’s invoice and forwards a copy to the supplier at the time of or shortly before payment. - Read more

  • Reverse Charge VAT
    under EU VAT rules in relation to cross-border trade between Member States, it moves the responsibility for the recording of a VAT transaction from the seller to the buyer of a good or service(...) - Read more

  • Reverse factoring
    is a synonym for Payables Finance. - Read more

  • Roaming
    is a common expression in the e-invoicing world for interoperability with other service providers on behalf of their customers, based on the mobile telephony analogy. In fact, the analogy is(...) - Read more

  • s

  • SaaS
    is a software licensing and delivery model in which software is licensed on a subscription basis and is centrally hosted. It is sometimes referred to as "on-demand software". SaaS is typically(...) - Read more

  • SBDH
    is the Standard Business Document Header (SBDH) which enables integration/transmission of documents between internal applications, enterprise applications, and business-to-business(...) - Read more

  • Scanning and OCR
    a process for scanning an invoice received in paper or PDF form and then through OCR (Optical Character Recognition) transferring the data into digital form. - Read more

  • SCF
    see Supply Chain Finance - Read more

  • Schematron
    is a rule-based validation language for making assertions about the presence or absence of patterns in XML trees. It will usually form the basis of a validation artefact. - Read more

  • Seller
    the contractually responsible seller of goods and services and issuer or sender of an invoice. - Read more

  • Semantic Data Model
    is a conceptual data model in which semantic information is included, and describes the meaning of its instances. For e-invoicing, Directive 2014/55/EU defines ‘semantic data model’ as a(...) - Read more

  • SEPA
    is the Single Euro Payments Area, in which retail payments in euro in the form of SEPA Credit Transfer, SEPA Direct Debit, and SEPA Card Payments are made available using common rules and standards. - Read more

  • Service Level Agreement
    is a contract between a service provider (either internal or external) and the end user that defines the level of service expected from the service provider. SLAs are output-based in that their(...) - Read more

  • Service Provider
    in the context of e-invoicing is an organization that provides its customers with services for the creation, delivery and processing of e-invoices and other related e-business transactions as(...) - Read more

  • SFTP
    is the SSH File Transfer Protocol (also Secure File Transfer Protocol) which is a network protocol that provides file access, file transfer, and file management over any reliable data stream. - Read more

  • Shared Services
    is the provision of a service by one part of an organization or group acting as a central servicing unit. It often applies to activities such as finance, administration, human resources and(...) - Read more

  • SME
    is a small and medium-sized enterprise. SMEs are defined in the EU recommendation 2003/361. The main factors determining whether an enterprise is an SME are staff headcount and either turnover(...) - Read more

  • SML/SMP
    Service Metadata Locator and Service Metadata Publisher are components of look-up and discovery services in OpenPEPPOL. - Read more

  • SMTP
    is Simple Mail Transfer Protocol, an Internet standard for electronic mail (email) transmission. - Read more

  • SSAE 16
    refers to Statement on Standards for Attestation Engagements (SSAE) 16 is an auditing standard for service organizations, superseding SAS 70. The latter's ‘service auditor’s examination’ is(...) - Read more

  • SSL
    is Secure Sockets Layer and is the standard security technology for establishing an encrypted link between a web server and a browser. This link ensures that all data passed between the web(...) - Read more

  • Straight-through-processing (STP)
    is an objective of transaction processing (originating in financial services) to eliminate or minimize human intervention or the re-keying of data. - Read more

  • Structured e-invoice
    is an e-invoice presented in a structured electronic format which allows for its automatic and electronic processing. - Read more

  • Supplier onboarding
    is the process of interfacing with the management of a supplier, gathering and providing the information needed to set up a company as an approved supplier, establishing connectivity, in order(...) - Read more

  • Supply chain automation
    is the use of automated and electronic processes as part of supply chain management to more efficiently manage transactions and events arising in physical and financial supply chains. - Read more

  • Supply Chain Finance
    is defined as the use of financing and risk mitigation practices and techniques to optimize the management of the working capital and liquidity invested in supply chain processes and(...) - Read more

  • Syntax
    is a technical means of representing information in electronic form. In Directive 2014/55/EU, it means the machine-readable language or dialect used to represent the data elements contained in(...) - Read more

  • t

  • Tax representative information
    is information which may appear in an invoice relating to an appointed tax representative acting on behalf of a trading party and which becomes engaged in the invoicing process for specific tax(...) - Read more

  • Third-Party-Providers (TPP)
    Provide services which are based on access to payment accounts provided by a PSP who is not the ‘account servicing’ PSP (ASPSP), in the form of payment initiation services and/or account(...) - Read more

  • Three Corner Model
    is an arrangement a where single service provider connects both the supplier and the buyer to its platform to offer e-invoicing and other supply chain services. - Read more

  • Three-way match
    is a system for processing a supplier’s invoice that ensures a transaction is complete and correct. Matching takes place between the purchase order, the delivery note or other evidence of(...) - Read more

  • Timestamping
    in computing timestamping refers to the use of an electronic timestamp to provide a temporal order among a set of events. Timestamping techniques are used in a variety of computing fields, from(...) - Read more

  • Total Invoice Management
    is a service model where a service provider agrees to handle and deliver or collect all the invoices generated or received by a customer, regardless of their form and whether paper or electronic. - Read more

  • Trading party
    is the buyer or seller in a commercial transaction. - Read more

  • Transmission
    in e-invoicing is delivery (including sending and receiving), presentation, or the ‘making available’ of invoices in a timely and secure manner between trading parties and any third parties(...) - Read more

  • Two Corner, Bilateral, or Direct Model
    is an arrangement where invoice transmission takes place on a direct connection basis between the trading parties. The trading parties may use a third party service or solution provider or SaaS(...) - Read more

  • u

  • UBL
    is Universal Business Language - an open library of standard electronic XML business documents for procurement and transportation such as purchase orders, invoices, transport logistics and(...) - Read more

  • UBL Syntax
    is the syntax developed by OASIS to be the technical language for UBL and is one of the syntaxes selected for use in the EN-16931 to represent the semantic model. - Read more

  • UN/CEFACT and UN/CEFACT Syntax
    UN/CEFACT is the United Nations Centre for Trade Facilitation and Electronic Business. One of the key standards it has developed is the Cross Industry Invoice (CII). The underlying syntax for(...) - Read more

  • UN/EDIFACT
    United Nations/Electronic Data Interchange for Administration, Commerce and Transport (UN/EDIFACT) is the international EDI standard developed under the United Nations. In 1987, following the(...) - Read more

  • Unstructured e-invoice
    is an e-invoice presented in a format other than a structured format, such as a humanly generated PDF that is not capable of automated and electronic processing. Such a presentation may also be(...) - Read more

  • v

  • Validation Artefact
    is a tool which allows its users to easily validate whether invoices comply with a standards specification. - Read more

  • Validation or Verification
    is a process carried out by an e-invoice receiver or a service provider on its behalf to ensure that an e-invoice, inter alia, is compliant with its business and technical requirements and with(...) - Read more

  • VAN
    is a Value-added Network offering services to customers. - Read more

  • VAT
    is a value added tax on goods and services within the European Union (EU). The EU's institutions do not collect the tax, but EU Member States are each required to adopt a value added tax that(...) - Read more

  • VeR
    is the e-Invoicing Alliance of Germany- Verband e-Rechnung - Read more

  • Virtual Card Payments
    Virtual credit cards are online cards that are not physically issued by the credit card provider. It is usually a free service provided by the original card issuer to their customers who want to(...) - Read more

  • Visualization
    is the provision or rendering of a humanly readable version of an e-invoice as a companion to a structured e-invoice. It may be rendered by any involved party at any stage in the process. It is(...) - Read more

  • w

  • Web Form
    is a form on a web page that allows a user to enter data that is sent to a server for processing. Forms can resemble paper or database forms because web users fill out the forms using standard(...) - Read more

  • With or Without Recourse
    In the case of ‘with recourse’, the finance provider relies on the seller (of a receivable or claim) for any shortfall in the event of non-payment. In a ‘without recourse’ facility or agreement(...) - Read more

  • Workflow
    consists of an orchestrated and repeatable pattern of business activity enabled by the systematic organization of resources into processes that transform materials, provide services, or process(...) - Read more

  • x

  • XHE
    Exchange Header Envelope developed jointly by OASIS and UN/CEFACT - Read more

  • XML
    Extensible Mark-up Language is a mark-up language that defines a set of rules for encoding documents in a format that is human-readable and machine-readable. Several schema systems exist to aid(...) - Read more

  • z

  • ZUGFeRD
    is a specification for a data format for an electronic invoice developed by the German National e-invoicing Forum. It is notable for providing a human readable visual representation and a(...) - Read more

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