USA: exploring the feasibility of standardised e-invoicing
The American Business Payments Coalition (BPC) is leading a 3-year effort to explore the feasibility of developing and implementing a standard framework for ubiquitous B2B electronic invoicing for the US market, like frameworks that have been developed in other European or LATAM countries.
The BPC is a volunteer group of organizations and individuals working together to promote greater adoption of electronic business-to-business (B2B) payments, remittance data, and invoices. The BPC collaborates closely with the US Federal Reserve, to support the Business-to-Business Payments Efficiency Improvement initiative.
Tungsten network is an active participant in the BPC and will take part in the consultation.
The BPC is now seeking to receive industry feedback on the Information Elements identified with the most commonly used business processes for invoice exchange in the North American market. This consultation is happening until Tuesday, 10 November 2020.
You too can take part and provide your feedback during the consultation through the BPC site.
To discuss country mandates that may affect your purchase to pay or Invoice to cash processes, reach out to our compliance team for a chat.