The Crea y Crece Law came into force on October 19, 2022. It is presented as an outstanding reform of the Recovery, Transformation and Resilience Plan. Its aim is to stimulate business creation and provide various advantages for business processes. These include promoting the widespread use of e-invoicing, reducing processing times (including collection), minimizing human errors, contributing to economic modernization and the development of the information society, saving costs, strengthening customer service and, of course, facilitating the fight against fraud.

Once the invoicing regulations are announced, three deadlines will be established for the full implementation of the mandatory nature of electronic invoicing in all companies.

One year after the approval of the regulation, companies with revenues of more than eight million euros will be obliged to use electronic invoicing and communicate the status of their invoices.

Two years later, the self-employed and SMEs with incomes of less than eight million will also have to adopt electronic invoicing, although the self-employed will not yet be obliged to report on the status of their invoices.

Finally, three years after the approval of the regulation, individual self-employed workers must also communicate the status of their invoices to suppliers or the Tax Agency.

Although the mandatory phase has not yet started, it is advisable to start preparing to comply with the obligation to use electronic invoices in business-to-business transactions. The process towards a more efficient and transparent digital economy is already underway. The sooner companies migrate, the better.

This modality provides several advantages to companies, such as:

• Greater transparency, by processing data through a platform that is monitored by the Administration.
• It combats late payments, improving liquidity for SMEs and the self-employed.
• It streamlines and simplifies business operations, potentially reducing material costs.
• It contributes to corporate social responsibility, by reducing the environmental impact by eliminating the use of paper.

It is undeniable that the future of business is heading towards digital, and electronic invoicing stands as an essential component to achieve the full digitalization of the business. However, for the incorporation of e-invoicing to provide the expected benefits, it is crucial to properly select a competent technology service provider.

Here are the 5 requirements that your technological partner must meet:

1. Meet legal requirements

Although it may seem obvious, complying with the e-invoicing regulations in Europe, governed by Directive 2014/55/EU, presents challenges. Each Member State determines the conditions through its national legislation, and outside the European Union, related legislation is dynamic, requiring constant adaptation. A supplier that adheres to such regulations will ensure that the company can be calm and safe.

2. Provide a comprehensive service

If your company operates internationally or has foreign suppliers, it is essential that the supplier’s e-invoicing service is global. This facilitates integrated and automated collaboration with all trading partners.

3. Provide personalized support

Since every company has unique needs, the selected supplier must be fully tailored to the specificities of your company. In addition, the technology partner must offer advice, flexibility and a futuristic vision, which allows the scalability of the business.

4. Ensure full availability

In any project, incidents will arise eventually. Therefore, it is crucial that the selected provider offers an agile and transparent support service, to solve each new development and that the billing service finds stability.

5. Getting to know the sector

It is essential to hire a technology provider with experience in electronic invoicing and who has worked with recognized clients with similar characteristics to those of your company. The experience will contribute significantly to the reduction of errors and to a smooth and efficient service.