Wednesday 14th February, 2018
Tradeshift has announced a new global strategic partnership with TrustWeaver to extend compliance requirements for electronic invoices processed through its platform.
Through a seamless, cloud-based integration solution developed by TrustWeaver, a Sweden-based provider of global Value-Added-Tax (VAT) compliance services, Tradeshift guarantees a larger spectrum of its customers’ electronic invoices subjected to VAT requirements meet compliance regulations.
Under the terms of this partnership agreement, TrustWeaver is responsible for upholding compliance even as the complex technical and process requirements in supported countries change or evolve.
According to Nav Kalra, Tradeshift’s VP of Global Services and Success, governments have increased focus on technology-based controls for closing the so-called ‘VAT gap’.
“Tax administrations increasingly require companies to send invoice data for inspection in real time as transactions are taking place, rather than auditing transaction evidence after the fact or much later,” said Kalra. “We continually join forces with strategic partners like TrustWeaver to provide leading solutions that facilitate compliant, seamless e-invoicing for our customers,” said Kalra.
“TrustWeaver’s service is uniquely optimised to do a lot of heavy compliance lifting especially in France adding a new level of transparency to every Tradeshift invoice,” he added.
Christiaan van der Valk, President of TrustWeaver, said: “This broader strategic agreement allows us to accelerate compliance coverage of many more countries and processes. Ultimately, it’s the enterprises leveraging the Tradeshift platform that will benefit as they can stop worrying about ever-changing e-invoicing requirements.”