May 11, 2017

Fitek admitted as full member of EESPA

Baltic e-invoicing operator, Fitek, has been admitted into the European E-Invoicing Service Providers Association, being the only Baltic company to achieve this. In cooperation with the association, preparations are being made for the transition to machine-processed e-invoices in 2018.

‘Together with EESPA, we are taking part in the creation of a universal, pan-European e-invoicing standard,’ says CEO Mait Sooaru, Fitek Group. ‘The proportion of e-invoicing being carried out between companies is still relatively small in the Baltic States, but the introduction of a universal standard in Europe helps to increase this both in here and across the rest of Europe. Compared to current invoicing methods, exchanging e-invoices is far more reasonable and inexpensive.’

Fitek is e-invoicing throughout Europe by sending international e-invoices via the PEPPOL network (the Pan-European Public Procurement Online). It is also the only company throughout the Baltic Sea region to accept PEPPOL e-invoices.

EU Directive 2014/55/EU establishes that Member States are required to adopt and apply by November 2018 the requirements set out within the directive in regards to e-invoicing between companies and public authorities.

EESPA (European E-invoice Service Providers Association)

EESPA brings together European e-invoicing operators, outsourcers, and companies which are exchanging financial know-how and technology, and which specialise in electronic data interchange (EDI). EESPA is an international non-profit organisation which was founded in 2011. The organisation currently has seventy members.

EESPA is focused on supporting the transition to e-invoicing, explaining its benefits, representing the field, and encouraging participation in policy-making by recommending best practice being used in Europe.

1 July marks one year since the state of Estonia started accepting only e-invoices. This move made the state a pioneer in the transition to modern settlement solutions in Estonia; in one year, state agencies have received 370,000 e-invoices from their cooperation partners. Financial technology company Fitek, the operator of e-invoices for state agencies, estimates that the share of e-invoices received by the public sector has more than tripled, reaching 98%.

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Fitek, part of Europe’s leading financial technology company Unifiedpost Group, is to start cooperation with SEB Bank integrating e-invoice sending platform for SEB business clients. Initially, functionality will be launched in Estonia.

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Financial technology company Fitek together with its parent company Unifiedpost is developing the Invoice Gate service www.invoicegate.com. The e-invoicing solution was recently launched in Latvia and Lithuania, and 8 more countries will be added in July. In Estonia, the e-invoicing solution arved.ee aimed at small and medium-sized enterprises has been in use for a year, and almost 13,000 companies have joined it. Almost 90% of the invoices sent are e-invoices.

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