After carefully planning and getting everything ready, a crucial delay has happened in the CTC e-invoicing mandate. This might be frustrating, but it’s not unusual in the digital mandate world. However, it doesn’t have to mess up your plans completely; on the contrary, it can be an opportunity.
Should you change strategy when an E-invoicing mandate is delayed?
So, does a delay in the mandate mean you need to change your strategy? It’s not a surprise, but it can be annoying when a delayed mandate messes up your original plan. Stopping or delaying things might seem like a good idea, but it’s not the best way to handle it. Instead of changing your focus and budget to other projects, you can use the delay as an opportunity to make the most of the extra time and keep moving forward. Overcoming the challenges of adapting to new technologies and changing processes is essential.
From a technical standpoint, businesses often start working on new requirements later than they should or underestimate their complexity. Any extra time you get from delays should be used to catch up or, even better, get ahead in development.
Explore viable strategies to stay ahead until mandates are implemented, especially since additional requirements might be unexpected. Picking the right partner to help make decisions is really important.
Here are some key things to consider:
You can use the budget, resources, and time you had planned before the mandate delay to optimize the additional time now available. Implementing an Accounts Receivable (AR) Automation or initiating a sales invoice issuance system ahead of schedule can enhance your organization’s Days Sales Outstanding (DSO) and overall performance. Additionally, it can streamline the workload of your credit control team.
Remember that mandates impact not just AR but also Accounts Payable (AP) processes. AP Automation can be set up without waiting or independently for any government system, giving you another way to be more efficient and get ready for future mandates proactively. Understanding the benefits of effective AP Automation and knowing what to think about before automating supplier invoicing lays a solid foundation for future readiness.
Selecting a service provider for global compliance when automating your AR and AP processes is key in this transformation. The provider should be known for being reliable and innovative, offering technology that is adaptable to future needs and is capable of complying with diverse local regulations.
In the light of the French or Polish mandates being postponed:
Organizations adopting a Partner Dematerialization Platform (PDP) in France should follow B2B e-invoice regulations set by the DGFiP. It’s a good idea to take a phased approach to automation because of how complicated France’s reforms are.
The Polish KSeF mandate has been deferred until at least January 2025. Use this time to review what’s needed, especially the detailed VAT_FA XML schema, and get ready for its impact when the new date is set.
Moreover, anticipate the forthcoming ViDA regulations, which will significantly affect operations across EU Member States and neighboring countries. Because of its wide reach, consider whether delaying efforts on mandates like those in France and Poland with this new challenge is preferable.
Keep adapting to the changing landscape. Think of announced mandates as just the tip of the iceberg. There are many other countries and governments below the surface that haven’t taken action yet. Proactively addressing potential issues now is preferable to rectifying problems later.
If there’s a delay in a mandate, make sure to update your business processes to get ready for any forthcoming changes. Stick to your original plan until you meet all the necessary standards, including the latest technological improvements, boost operational efficiency, and prepare your teams well for future procedures.
