Many parties have slanted the people go as the true solution for the e-invoicing process in both private and public organizations. Ones who join with the peppol network will reap tons of benefits that will help them to smoothen all of the transactional processes much better than before.
Many parties are still thinking about whether to adopt this solution or not. For some folks, they are not ready to embrace peppol services simply because this topic is new for them. So, how does it work? And why should you consider knowing about it?
Before figuring out how people work, you will want to cover the basis first.
Defining PEPPOL
PEPPOL is an acronym for the Pan-European Public Procurement Online, which provides a platform for public procurement across Europe. The peppol network is comprised of a set of criteria that are adhered to by the members in order to expedite the online procurement process as much as possible.
The members in the network are able to share documents in a timely and secure manner. After connecting to the specific people go access point, you will be able to engage with the other businesses on the same network without any further effort.
The bills can be sent or received over the peppol network, depending on your preferences. You will be provided with a one-of-a-kind ID through the AP. This ID is used to identify the individual or organization that is responsible for sending the invoice to the customer. You will be issued a Peppol ID, which will function similarly to a passport in the network. You will be interacting with the other parties through the usage of this ID.
Why use the peppol network?
There has been a significant number increase of the users who are conducting e-invoices by using peppol services. The reason is obvious. E-procurement has become one of the biggest challenges for many companies, especially in the interoperability factor. But with the particular framework, the problem is no longer the hindrance for you to keep growing. It is much safer and faster to send the invoices through the network.
You could adopt the service into your existing ERP or accounting apps. Then you can use the unique ID granted for you for the identification. Since all of the processes can be done automatically, you can save a lot of time and money when conducting the transactions.
As the peppol go has such a good reputation amongst the providers and suppliers, more governments are also putting their interests on the peppol e-invoicing practices. Many suppliers are now mandated to use the particular framework when sending electronic invoices to their public entities and government organizations.
As mentioned, to be able to exchange the information, you will need to use your Peppol ID.
PEPPOL ID
PEPPOL ID is like the passport that you use when you are exchanging the information with the other parties. The companies and governments can automatically identify each other by using the Peppol ID. The ID consists of a unique number which is taken from some important components of your company such as A Chamber of Commerce Number, A VAT number, company bank account-number, as well as the government identification number of the agency.
The process of the exchanges will be automatically done thanks to these unique identifications series of numbers.
Connecting to the Peppol network
PEPPOL requires a Peppol Access Point before transmitting electronic invoices over the network. These Access Points perform the same function for mobile subscribers that Vodafone and T-Mobile do. When these service providers give you mobile internet access, these mobile internet access points link you to the Peppol network.
Once registered, you may interact with all PEPPOL users regardless of the access points – or countries – to which they are linked, using the “connect one, connect all” approach.
In addition to a Peppol ID, you must have a Peppol account. The majority of Peppol Access Points can generate these IDs for their own users. Contact the person in charge of your access point for further information.
Sending the business documents including e-invoices
Sending electronic invoices to clients outside of your own nation seems intriguing. Many businesses find it difficult to put this approach into action. To make matters worse, there are several e-invoicing formats in use across the world.
Italian legislation requires FatturaPA invoices to be delivered to German firms doing business in Italy. ZUGFeRD, a German electronic invoicing standard, has supplanted that one. As a result, businesses devote substantial efforts to the preparation of bills.
The solution of Galaxy GW, on the other hand, stands out. When a bill is delivered electronically, it is instantaneously converted to the recipient’s format. Electronic invoices may now be submitted by businesses and governments across Europe and the Asia-Pacific region. The situation will not deteriorate further.
The importance of peppol network
Peppol is an electronic document delivery and receiving network. On Peppol, invoices and other commercial paperwork cannot be transmitted. As such, it is a network that connects many platforms, such as those utilized by government agencies and the Internet of Things. This link enables document transmission and reception within the Peppol Network. Peppol compiled a list of legal and technological criteria in order to standardize electronic business document formats and transmission standards.
Peppol is a platform for electronic invoicing as well as an electronic invoicing format, making it a complete solution for simple and successful B2G and B2B communication. Both customers and service providers confront comparable problems when it comes to connecting. The activities of People have resulted in the adoption of local procurement and invoicing standards in a number of nations across the world. A substantial majority of worldwide enterprises use Peppol at some point.
The Peppol business validation criterion is used by several nations to check that their national billing regulations correspond to international standards.
Galaxy GW is a well-known peppol service provider of business-to-business connection solutions. It’s just going to grow in popularity from here.
Peppol has four corner models which are more effective and efficient than the other e-procurement exchange models. It is not dependent on the p2p connection. Rather, the users will connect to the AP and put the recipient’s ID on the document to send to the right recipient. The risks of errors are low to zero. Not to mention that the process will be happening faster and safer.
Reach out Galaxy GW now to explore the true potential that you can unleash using this solution for your business process.
