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.

Fitek will start incorporating the phrase "Part of Unifiedpost Group” in its logo and communications starting today, in recognition of the parent company’s listing on the regulated market of Euronext Brussels (the “Listing”).

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Fitek Balkan becomes majority stakeholder of personalized printing and enveloping company Tehnobiro. The deal was finalized on July 6. As a result, Fitek Balkan Ltd will own 51% of the stake and thus become the majority owner of Tehnobiro.

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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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