TIE Kinetix announced today it has incorporated global e-invoicing and e-archiving compliance capabilities from Sweden-based company TrustWeaver, to its FLOW Partner Automation platform. The partnership allows TIE Kinetix to support its customers with legally compliant issuing, receiving, and storage of e-invoices in more than 55 countries throughout Europe, Asia, Africa, and the Americas.
Under the new agreement, TIE Kinetix customers can, with immediate effect, benefit from TrustWeaver’s capabilities to automatically conform to the most stringent tax and other legal requirements on e-invoicing. Meeting these legal demands and managing the diverse technological solutions required for each country has become an acute problem for businesses, as many countries are now taking drastic measures to outlaw paper invoices. Companies trading internationally struggle to meet diverging local standards imposed by tax administrations that want to either pre-approve e-invoices in real-time, or verify them during tax audits many years after a transaction has taken place. TrustWeaver’s services are transparently integrated into the heart of the TIE Kinetix FLOW Partner Automation solution suite so that enterprise customers’ compliance executives and CFOs are able to monitor, interpret, and meet constantly evolving legal requirements.
Jan Sundelin, CEO of TIE Kinetix: “In doing business with trading partners and government organizations, our customers are increasingly confronted with the requirement to send invoices electronically. But every country has their own requirements and legislation for authenticity, integrity, security, storage and retrieval of electronic invoices. With our partnership with Trustweaver and by integrating their services with our FLOW Partner Automation platform, we ensure that we can facilitate and support all our customers worldwide with e-invoicing solutions that are compliant with the local tax jurisdictions.”
Stina Treven, CEO of TrustWeaver: “We’re pleased to add TIE Kinetix to our growing partner ecosystem. We see the current revolution towards real-time tax and other government controls on business transactions as irreversible. Since not many vendors have taken on the challenge to automate compliance decisions in this area, we feel it is our responsibility to invest the resources needed to make sure this trend doesn’t recreate new types of borders in the global fabric of trade and commerce. To do that well we need the scale that partners like TIE Kinetix can bring through the trusted customer relationships they have built over many years.”
About TrustWeaver
TrustWeaver (www.trustweaver.com) provides a comprehensive Cloud-based compliance service for electronic invoicing and other legally critical documents for more than 50 countries. From a single technical interface and through our unique Compliance MapTM concept, more than 60 world-leading B2B integration brokerage vendors in our partner network automatically provide interoperable legal certainty to trading partners that use their solutions, regardless of changes in legislation. TrustWeaver’s unique blend of legal and technical components allows modern organizations to execute their ERP, workflow, archiving, and B2B consolidation strategies with guaranteed respect for the multiple national and sectoral laws governing such transactions as well as their long-term retention and auditability. In business since 2001, TrustWeaver is headquartered in Stockholm, Sweden.
More information is available on: www.trustweaver.com
