Devil is in the details!
and Phase 2 of the e-invoice project; – the most transformative in the financial, taxation and regulatory landscape of the Kingdom – is a true reflection of the above.
Each element of an “invoice” and the “system” needs to be exactly in line with ZATCA specifications for it to land in the customer’s inbox. Stakes are high as there are business and financial implications.
The question that then begs our attention is how the companies should approach this transition.
Below, we list down and discuss 5 different approaches one may take based on their own peculiar circumstances together with the positives and negatives of each.
- Acquiring end to end 3rd party E Invoice Solution
- Modifications in existing ERP /procure E Invoicing Module
- System Integration with 3rd Party Solution Provider
- Invoice data upload in CSV Format on 3rd Party Solution Provider Platform
- Scanned Invoice Upload on 3rd Party Solution Provider Platform
Here we discuss the suitability of each, for different types of companies and their comparative positives and negatives.