October 15, 2019

Fitek to give a speech at the Autumn Estonian Accountants’ Conference on “E-invoicing and digitalization – where is the benefit?”

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.

The Estonian state switched to e-invoicing following the amendment to the Accounting Act, which was adopted in February and came into force in July, 2019. The Autumn conference is the most comprehensive event covering the pros and cons of the transition to e-invoicing in Estonia. The conference will bring together practitioners and representatives from Omniva, CostPocet, Envoice, Telema and others to share their experience and suggestions.

Indrek Allas: “Many people have said that the introduction of e-invoicing means financial savings, but in real-life small businesses may not experience it that way. At least not immediately, because for a smaller business, savings will come in the long run, and the increase in the volume of e-invoicing will certainly contribute to that. In a situation where the state only accepts e-invoices, we want to talk to entrepreneurs about the benefits of e-invoicing and the role of operators in ensuring that the invoice moves from sender to recipient quickly and in the right format.”

For more information on the conference to be held on 24 October, click here.

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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