On 7 June 2019, Tungsten’s Head of Country Compliance was in Delhi to meet with the CEO of India’s Goods and Services Tax Network (GSTN) and discuss best practice and lessons learnt from e-invoicing mandates elsewhere in the world.
This follows the announcement on 6 May 2019 that the Indian government have advanced their plans to move to a transaction clearance or real-time capture model for all domestic B2B invoices, in a bid to eliminate invoice fraud and reduce tax leakage in the country.
Invoice exceptions are time-consuming and costly. One out of every three purchase order (PO) invoices generates an exception, due to such factors as PO numbers that are incorrect, PO price and quantity discrepancies, or missing, and delivery issues with goods. Fortunately, there is a solution with Tungsten Network.
With Tungsten Network’s straight-through processing services, enterprises:
- Increase invoice automation rates
- Improve payment on-time rates
- Enhance AP team productivity
- Improve collaboration between finance and procurement
Learn more about how straight-through processing can help your organization by downloading this informative eBook today.