Opens new markets for Cygnet Infotech in global e-Invoicing solutions across 40 countries
Cygnet Infotech, a leading technology organization, is now registered as India’s first OpenPeppol member, which is an organization that provides services for e-procurement solutions to standardize formats and exchange the necessary documents between businesses in the most secure manner. OpenPeppol has members in 40 countries, 32 of these are European countries, and the rest include Australia, Canada, China, Japan, Mexico, New Zealand, Singapore, USA and India.
Industries across the globe face multiple challenges in document exchange since they have their own set of standard formats, different document exchange protocols, multiple ways of testing messages and validation of data. To eliminate these challenges Peppol’s four corner model enables direct access to buyers & sellers for standard documents to be exchanged securely via direct Access Points.
Commenting on the achievement Niraj Hutheesing, Founder and Managing Director of Cygnet Infotech said, “With OpenPeppol membership, Cygnet Infotech aims to ease & automate data imports, simplify compliance, and make it easier to exchange documents. This will enable seamless compliance, reporting & auditing. Countries across globe are moving towards e-Invoicing compliance. Therefore, supporting Peppol framework within our solutions is the foundation to build and enable e-Invoicing solutions for all countries. Multi-National Corporations and exporters will now have the opportunity to leverage us as a Peppol Access Point and trade with ease. This move will go hand-in-hand with our global tax compliance and automation solutions for Europe, GCC, India and other countries.”
OpenPeppol membership is a milestone for Cygnet Infotech towards becoming an Access Point i.e., certified Peppol service provider. Once the company’s enterprise resource planning (ERP) is integrated through an Access Point, it can exchange invoice documents with other companies which are on similar network. This has significant cost savings for the companies.
Exporters will be enabled to exchange Peppol compliant Invoice documents from their ERPs, the source of e-Invoice data. This will ease transactions with buyers connected to the Peppol Network in many countries as Peppol continues to expand globally. For example, exporters from India and Kingdom of Saudi Arabia will now be able to generate e-Invoices from GSTN & ZATCA compliant formats to Peppol compliant formats within minutes.