Opens new markets for Cygnet Infotech in global e-Invoicing solutions across 40 countries
Cygnet Infotech, a leading technology organization, is now registered as India’s first OpenPeppol member, which is an organization that provides services for e-procurement solutions to standardize formats and exchange the necessary documents between businesses in the most secure manner. OpenPeppol has members in 40 countries, 32 of these are European countries, and the rest include Australia, Canada, China, Japan, Mexico, New Zealand, Singapore, USA and India.
Industries across the globe face multiple challenges in document exchange since they have their own set of standard formats, different document exchange protocols, multiple ways of testing messages and validation of data. To eliminate these challenges Peppol’s four corner model enables direct access to buyers & sellers for standard documents to be exchanged securely via direct Access Points.
Commenting on the achievement Niraj Hutheesing, Founder and Managing Director of Cygnet Infotech said, “With OpenPeppol membership, Cygnet Infotech aims to ease & automate data imports, simplify compliance, and make it easier to exchange documents. This will enable seamless compliance, reporting & auditing. Countries across globe are moving towards e-Invoicing compliance. Therefore, supporting Peppol framework within our solutions is the foundation to build and enable e-Invoicing solutions for all countries. Multi-National Corporations and exporters will now have the opportunity to leverage us as a Peppol Access Point and trade with ease. This move will go hand-in-hand with our global tax compliance and automation solutions for Europe, GCC, India and other countries.”
OpenPeppol membership is a milestone for Cygnet Infotech towards becoming an Access Point i.e., certified Peppol service provider. Once the company’s enterprise resource planning (ERP) is integrated through an Access Point, it can exchange invoice documents with other companies which are on similar network. This has significant cost savings for the companies.
Exporters will be enabled to exchange Peppol compliant Invoice documents from their ERPs, the source of e-Invoice data. This will ease transactions with buyers connected to the Peppol Network in many countries as Peppol continues to expand globally. For example, exporters from India and Kingdom of Saudi Arabia will now be able to generate e-Invoices from GSTN & ZATCA compliant formats to Peppol compliant formats within minutes.
About Cygnet Infotech:
Cygnet Infotech works with global clients across multiple countries including Fortune 500 enterprise corporations, medium sized businesses, fast-paced start-ups, and Government Bodies. It has teams across multiple regions and its offerings include Tax Technology solutions across the globe, Fintech offerings, Products across E-signing, RPA, Test Automation and Digital Engineering Services. Aligned with its vision of providing technology-enabled business solutions, Cygnet Infotech delivers end-to-end solutions for clients’ most pressing business needs.
Discover more about Cygnet Infotech: cygnetinfotech.com
OpenPeppol is a non-profit international association established under Belgian law. The purpose of OpenPeppol was to enable European businesses to easily deal electronically with any European public sector buyers in their procurement processes, however Peppol has proven so successful that it is increasingly being used around the world. OpenPeppol is working towards providing its stakeholders with widely accepted technology standards and specifications, while ensuring sustainability and promoting and supporting the wider use of the Peppol specifications, building blocks and services for B2B & B2G document transactions anywhere across the globe.