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Checklist to Prepare for e-Invoicing in Your Company

Below is a list of useful questions that your company needs to know the answers for in order to determine and to cost your e-invoicing strategy.

  1. How many invoices do you send/receive globally, by country?
  2. What is your average cost per invoice?
  3. Can you calculate your hurdle rate?
  4. Do you do business in Europe, Asia-Pacific, South America, or North America?
  5. If so, which countries do you trade in?
  6. Does your organisation want to move to electronic invoices globally including managing regulatory compliance for Value Added Tax (VAT) and/or Goods and Services Tax (GST)?
  7. If so, what countries will you need to support from a tax jurisdiction perspective?
  8. Is this for the Buy and/or Sell side of your business?
  9. Who are your main suppliers or customers and in what countries are they based?
  10. Do you need to interact with your suppliers/customers more effectively?
  11. Do you need to implement global corporate social responsibility programs or manage large supplier/customer interaction projects?
  12. What global corporate initiatives does your organisation have in place for Procurement, Corporate Tax, Accounts Payable, and Accounts Receivable?
    • Globalisation
    • Cost reduction/Efficiencies
    • Government mandates/regulation
    • Consolidation (Integration, ERP, Tax, etc.)
    • Customer satisfaction
    • Green or paperless IT
    • Other
  13. What are your CFO’s top objectives?
    • Globalisation
    • Process efficiencies
    • Cost reduction
    • Consolidation (Integration, ERP, Tax, etc.)
    • Customer satisfaction
    • Other
  14. Does your company have Tax, Procurement, Accounts Payable, and Accounts Receivable representatives in various regional offices? If so, in what countries?
  15. Does your Tax or Accounting Department have a function that is specifically focused on Value Added Tax? If so, for what regions or countries?
  16. Who are the key contacts in those regions?
  17. What is the level of effort that your organisation goes through to prepare for and execute regional VAT audits?
  18. Are there some countries that are more difficult than others to do VAT audits in?
  19. What are the costs associated with this effort?
  20. Do you have global business units that set overall corporate directives for Procurement, Tax, and Accounting (Accounts Payable and Accounts Receivable)? Or are those functions supported in regional offices?
  21. Do you have a centralised, global IT department, or is your IT department regionalised?
  22. If regionalised, which countries are supported by which regions?
  23. How much VAT does your company report on and for what countries?
  24. What percentage of it is handled via electronic invoices and by which country?
  25. What is your VAT input and output related to each country (i.e. what VAT do you claim (input) and pay (output) for each country) per year?
  26. Do you know what your financial exposure is for each country (VAT to reclaim)?
  27. Do you know your priority country(countries) for an e-invoicing solution should you decide to implement one?

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