February 20, 2017

Fitek is offering a Pan-European e-invoicing solution

The financial technology services company Fitek will be the first operator offering Pan-European e-invoicing in the Baltic countries as of the 15th of January.

Fitek has joined the Pan-European electronic document and e-invoicing network PEPPOL (Pan-European Public Procurement Online). As of the 15th of January, 2017, the clients of Fitek in Estonia, Latvia, and Lithuania will be able to send and receive European e-invoices.

Karl-Eric Schneider, CEO of Fitek Estonia: “Fitek has often been asked whether we exchange e-invoices with European companies. As of the 15th of January, it will be possible. We will be the first in the Baltic countries to be able to receive and send e-invoices from and to Europe. There are many companies in Europe saying that if you want to send us an invoice, please send an e-invoice, and we wish to be on the frontline in Europe with new pioneering e-services.”
“Directive No. 2014/55/EU of the European Parliament and of the Council also establishes that the requirements of the directive regarding e-invoicing at companies and governmental authorities shall be adopted by the Member State by November 2018. Fitek is able to fulfil these requirements,” says Karl-Eric Schneider.

PEPPOL (Pan-European Public Procurement On-Line) is a Pan-European environment for exchanging electronic documents, the functions of which include supporting and facilitating Pan-European e-invoicing. The environment is funded by the European Committee and 18 governmental authorities.

PEPPOL is the European invoice exchanging platform, which has been joined by 160 000 companies through operators as of this date. Further information: www.peppol.eu Directive No. 2014/55/EU states that the benefit of e-invoicing is the highest possible if invoice generation, sending, forwarding, receiving, and processing can be fully automated. Thus, only machine-readable invoices, which can be automatically and digitally processed by the recipient, may be deemed in compliance with the European standard on e-invoicing. A simple image file should not be deemed an e-invoice for the purposes of this directive.

Head of Fitek Global Inbound Business Unit, Indrek Allas, will share his experience at the Estonian Accountants’ Conference on "E-invoicing and digitalization - where is the benefit?" by talking about sending and receiving e-invoices, and about the newly launched self-service platform Arved.ee. This e-invoicing platform is developing fast and will have 8,000 users by mid-October.

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Fitek has become a member of Foreign Investors Council (FIC) in Serbia.

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Fitek Group, the leading Baltic and European fintech and e-invoice solutions provider, will participate in the most important event of the year for financial leaders at the Slovakia-CFO Forum. The event will be interactive in nature, bringing together unique stories, talk shows, speaker discussions, and inspirational presentations. Fitek will be participating as the event’s Gold sponsor, as well as one of the event’s speakers.

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