TrustWeaver and E2open Expand Partnership to Deliver Comprehensive E-Invoicing and Execution Platform
Enhances Supply Chain Collaboration Beyond Standard Purchase Order (PO) to Invoice Processes
Stockholm, 15 September, 2015 – TrustWeaver today announced that it has successfully extended the integration of its global e-invoice compliance capabilities by partnering with E2open, the leading provider of cloud-based solutions for collaborative planning and execution across global trading networks. By seamlessly embedding TrustWeaver’s fully automated functionality for the tax-compliant creation, validation, archiving and audit of invoices across more than 50 countries with its extensive supplier collaboration capabilities, E2open unifies the needs of trading partners’ finance and tax organizations with the needs of procurement and supply chain organizations.
E2open applies a rules engine that drives both TrustWeaver’s country-specific electronic signing, time-stamping, archiving and other tax compliance functions and a rich data validation process that executes controls for tax and business-specific requirements for the content of invoices.
The diversity of country-specific rules and regulations around using electronic invoices for value-added-tax (VAT) purposes increasingly conflicts with the competitive pressures that force international enterprises to push ahead with supply chain automation based on modern information technologies. In managing the complexity of European post-shipping compliance, the joint TrustWeaver-E2open solution provides a more complete set of functionality where indirect procurement solutions typically fall short.
“We’re always pleased to find new, strategic partnerships to build upon our legacy in the e-invoicing compliance market,” said Christiaan van der Valk, President, TrustWeaver. “Together with E2open, we look forward to delivering a market-leading solution that makes it easier to engage with suppliers internationally by keeping abreast of the latest changes in tax regulations in a realm that’s constantly in flux.”
By deeply embedding dynamically-monitored tax compliance functions inside processes that range from the classic order-to-invoice cycle to order collaboration, in-transit shipping visibility and receiving, E2open offers quick time to value for enterprises that seek to accelerate their e-business rollouts. For a major telecommunications client, this approach translated into the ability to implement advanced e-business collaboration with more than 400 suppliers across more than 40 countries for 16 buying entities in less than five months.
“As supply chains mature, companies expect software solutions that span procurement, logistics and finance processes seamlessly. At the same time, complexity is increasing, and the ability to rapidly and reliably achieve compliance for invoices in local markets is critical,” said Michael Meizer, Area Vice President, EMEA Professional Services, E2open. “We’re pleased to expand our offering by collaborating with TrustWeaver, a world-class innovator in the e-invoicing compliance space.”
TrustWeaver (www.trustweaver.com) provides a comprehensive Cloud-based compliance service for electronic invoicing and other legally critical documents for more than 50 countries. From a single technical interface and through our unique Compliance MapTM concept, more than 60 world-leading B2B integration brokerage vendors in our partner network automatically provide interoperable legal certainty to trading partners that use their solutions, regardless of changes in legislation. TrustWeaver’s unique blend of legal and technical components allows modern organizations to execute their ERP, workflow, archiving and B2B consolidation strategies with guaranteed respect for the multiple national and sectoral laws governing such transactions as well as their long-term retention and auditability. In business since 2001, TrustWeaver is headquartered in Stockholm, Sweden.
E2open is the leading provider of cloud-based, on-demand software solutions enabling enterprises to procure, manufacture, sell, and distribute products more efficiently through collaborative planning and execution across global trading networks. Enterprises use E2open solutions to gain visibility into and control over their trading networks through the real-time information, integrated business processes, and advanced analytics that E2open provides. E2open customers include Avnet, Celestica, Cisco, HP, IBM, Lenovo, L’Oréal, Motorola Solutions, NVIDIA, Seagate and Vodafone. E2open is headquartered in Foster City, California with operations worldwide.
More than 41,000 trading partners and 140,000 unique registered users currently participate in the E2open Business Network, which allows participants to share plans and data and execute business processes in a secure, real-time manner. The E2open Business Network also provides collaboration tools and analytics so that E2open customers can make more informed and efficient decisions. For more information on E2open, visit the company’s website at http://www.e2open.com.