SERES issues the first implementation report on electronic invoicing in Colombia

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SERES issues the first implementation report on electronic invoicing in Colombia

By: Alberto Redondo, Seres

SERES carried out its research during eight months, based on  a sample of 1,500 companies in the areas of telecommunications, products and services, agriculture, textiles, footwear, technology, ports and oil, among others. These reference companies, are distributed throughout 16 departments of the country, although there are particular concentrations in Antioquia, Valle del Cauca, Cundinamarca and Bogotá D.C.

It was discovered  that, in 2017, the total volume of electronic invoices in Colombia amounted to 536,000 documents and the gross value of sales with represented exceeded $ 7.02 billion.

Although the numbers speak for themselves, a qualitative analysis revealed the hard work ahead of  Colombian companies this year, since there is 97% growth expectation in B2B exchange and, currently, only 3% of Colombian companies have started  to implement the new system.

Colombian companies, especially large ones, have planned their start-up  project in 2018. This should be propelled by the early date for compulsory adoption. It remains the case  that there is still a lack of  information and dissemination campaigns for the development.

Many entrepreneurs now have the challenge of implementing the measure. This  will allow the private sector to optimize their use of time, reduce costs associated with the issuance, sending and storage of invoices, and facilitate the accounting processes to comply with tax obligations.

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