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OB10 Joins Digital Planet to Regularize Invoicing Practices with Turkish e-Invoice Law

December 31, 2013

OB10 and Digital Planet announced a partnership to streamline the invoice processing aspects in line with the new e-Invoice regulations to be enforced in Turkey starting January 2014. As per the terms of the partnership agreement, OB10 will lend its intellectual property to the partnership for enabling organizations to reduce operational costs and enhance cash-flow management while simplifying the overall invoice processing workflows. Digital Planet would bring its flagship NETInvoice solution to the partnership for enabling enterprises to integrate their invoice practices with the new system announced by the government without making any modifications to the existing invoice workflows.

In a release, Edmund Truell, Group Chief Executive Officer at Tungsten Corporation, the parent company of OB10, said “Our partnership will help organizations meet their regulatory requirements and streamline their processes. Automated invoice processing also allows companies to take advantage of early payment discounts and improve payment performance.”

With the new regulation to enforce e-Invoicing process, the Turkish Ministry of Finance plans to reduce the cases of lost taxation. The new law would also enable organizations to streamline the invoice processing practices, improve invoice data analysis and strengthen supplier relations with effective processing of invoices for timely payment.

OB10 e-Invoicing network combined with supply chain financing enables organizations to apply advanced spend analytics methodology to the invoice data repository to generate huge cost savings. Digital Planet’s flagship product, NETInvoice application is designed for seamless integration with all the ERP systems in the market through a web-based cloud application. NETInvoice effectively manages delivery, receipts, storage, and presentation aspects of the invoicing workflow without calling for any installation at the customer’s end.

Speaking of the partnership deal with OB10, Adnan Vural, Chief Executive Officer at Digital Planet, said “OB10 is a global giant in e-Invoicing and has been delivering purchase-to-pay automation solutions to the world's largest companies since 2000. By presenting our services through a common platform, our alliance combines our local experience with global practices. We are proud that OB10 has chosen to work with Digital Planet after an extensive search in Turkey.”

OB10 is a worldwide B2B e-Invoicing network engaged in streamlining and simplifying the invoice-to-pay process. The company is part of Tungsten Corporation Plc and is operational across the Americas, Europe and Asia.

Digital Planet is engaged in providing e-Invoicing integration systems that fully comply with all regulations related to security and confidentially aspects. The company’s elite list of clients includes Vodafone, DHL, Carrefour, Red Bull, Novartis, and Huawei (News - Alert).

Edited by Ryan Sartor

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