Saudi government’s latest E- invoicing initiative aligns perfectly within the realm of the Vision 2030 ambitions to moving from a ‘physical’ or ‘analogue’ world to a ‘touchless’ or ‘digital’ one.
The Government of Saudi Arabia is set to radically transform its economy into something modern, dynamic, and much less dependent upon oil revenues. Vision 2030 is the manifestation of Kingdom’s aspiration to secure such a dynamic future. Huge steps have already been taken to create more digitalized environment, and one of the initiatives was the E-Invoicing program initiated by the Zakat, Tax and Customs Authority (ZATCA). Saudi Xerox has taken major strides in this field and helped the Saudi government to digitize or re-engineer paper-based processes which plays a major role in this initiative as well.
Saudi Xerox, a trusted partner in E-Invoicing initiative
E-invoice is a new platform being adapted by KSA. The Zakat, Tax and Customs Authority (ZATCA) recently announced that e-invoicing will become mandatory in the Kingdom, starting December 4, 2021.
Traditionally invoices are issued manually or generated in paper format from computers, etc. Electronic invoicing or Fatoora is the generation of invoices in a structured electronic format as defined by the Tax authorities.
E-invoicing will be rolled-out in two phases: The first phase, enforceable as of December 4, 2021, the second phase of implementation is set to start, beginning January 2023. Saudi Xerox is a major player offering this service to both the public and private sectors in the region.
The key to the success of this mammoth national project is digitization, and as a company that introduced personal computer to the world, digitization is Xerox’ s main forte. Combining cutting-edge expertise with broad experience, Xerox helps Saudi companies and citizens to plan and implement E-invoicing. This includes the necessary requirements for the in-house built solutions, upgrading the system to generate invoices in the UBL-based XML format.
The E-invoicing is part of KSA’s broader Vision 2030, which aims at large-scale adoption of transformative digital solutions. Saudi Xerox is also a major technology contributor to the Vision 2030, by offering solutions and a digital road map that helps people to streamline and automate processes, manage hardware, software and data.
When it comes to E- invoicing Xerox technology help users capture, digitize, and extract data from digital and paper invoices as well as strengthens regulatory compliance with a complete, easily monitored audit trail. Furthermore, it supports and maintain supplier self-service and a digital-first process with e-invoicing avoiding any disruption.
“The new e-invoicing initiative is part of the Kingdom’s digital transformation strategy and will bring a turnaround change in the economy of KSA. Saudi Xerox is all geared up to take this initiative to the highest level of implementation and customer satisfaction through our state-of-the-art workflow solutions which will mark yet another milestone achievement for us,” says Mehmet Sezer, General Manager of Saudi Xerox.
Saudi Xerox, a major enabler of E-invoicing success
As a leading provider and trusted partner of Saudi Government for quality document services and communications, Saudi Xerox enables businesses and people to exchange data and collaborate across multiple platforms seamlessly. While being socially responsible Saudi Xerox is a major enabler of optimize financial processing, boasting a wide array of document management technologies, transformational solutions, and customer communication services. That is why Saudi Xerox enjoys a privileged position within Saudi Government Nationwide E-Invoicing Framework.
The hassle of manual invoice processing could only be eliminated with an intelligent system that could automatically format, deliver and archive invoices. Saudi Xerox’s solution addresses these needs with its touchless processing and electronic workflow capabilities.
E-invoicing, a significant step towards going green in Saudi Arabia
As a business championing technology, productivity and transformation, Saudi Xerox is a major contributor to Saudi Government’s green goals and its commitment to reduce its reliance on paper and more transparent economy.
Saudi Xerox has always been a major promoter of green and sustainable practices in the Kingdom and E-invoicing fits right into company’s narrative for a greener future.
E-invoicing is a great step toward going green by reducing the volume of printed paper because it enables you to process the invoices electronically in your capture system and that translates in green results overall.
Saudi Xerox E-invoicing solution is a great tool which enables Saudi Government to adopt a truly paperless process and save the environment. It is a perfect means to an end and Saudi Xerox throws all its support behind it.
About Saudi Xerox
Saudi Xerox is the representation of Xerox in Saudi Arabia. It was established in 1986, with business lines that include providing solutions to improve business processes, automation, and printing technology through an innovative vision of maximizing productivity and efficiency to create a better work environment. Saudi Xerox offers the full array of Xerox products and services ranging from workplace assistants, workflow solutions and managed print services in the KSA market. We address global and local market challenges consistently together in alignment with Xerox global standard. For more information, please visit www.saudixerox.com