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TrustWeaver announces compliance support expansion for Latin America

NewsAnna Bowsher, Reseacher05.09.2012 Comments (0)Bookmark

TrustWeaver, a Swedish based provider of cloud-based information compliance and governance solutions, announced it will provide support for e-invoicing compliance in six additional countries in Latin America by the end of the year.

In addition to Mexico, which is already included in TrustWeaver’s unique compliance mapTM, TrustWeaver-enabled partners and customers will be able to exchange legally recognized e-invoices under the diverse tax laws of Chile, Brazil, Argentina, Cost Rica, Guatemala and Colombia.

With over 50 leading B2B integration vendors around the globe as its partners for the interoperable exchange of e-invoices and other legally critical documents with guaranteed local compliance, TrustWeaver can now unleash the value in the patchwork of e-invoicing legislation among countries and regions.

“After more than three years of thorough technical, legal and market research, we are now ready to launch a service for Latin America that meets the requirement of global enterprises. While local solutions have been available in Latin America for some time now, these have often been viewed as tactical and adopted under time pressure by international companies who pursue globally coherent B2B strategies for all their subsidiaries” said Christiaan van der Valk, TrustWeaver’s CEO.

“The combined opportunity created by local laws in this and other regions is many times larger than the sum of its constituent parts.”

The announced expansion into Latin America is a significant step towards the realization of TrustWeaver’s plan to cover all countries where e-invoicing is available with legal certainty. As with other TrustWeaver solutions, trading partners will simply create and receive the data in the format that makes sense for their systems and processes: they have no local compliance components to manage and won’t need to worry about the changes in legal requirements that characterize the e-invoicing landscape. All compliance activities – whether locally-specific data formats, first mile electronic signatures, prior registration of invoices with tax administrations or local archiving requirements – will be handled by TrustWeaver in the cloud.

“The complexities managed behind the scenes for this dependable solution are considerable” said Luis Barriga, Director of Program Management with responsibility for Latin America at TrustWeaver.

“Through robust partnerships with local specialist service providers and trusted third parties, we are able to provide a service that allows end users to focus on maximizing the cost and process benefits of B2B automation, at minimal investment, without losing sleep over regulatory compliance”.

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