Invoiceware International on Tuesday announced a strategic alliance with Lexmark to help multinational companies optimize accounts payable workflows and simplify financial compliance throughout the region.
“We’re excited to focus on Latin America with Invoiceware International in order to help companies improve accounts payable processes while proactively managing compliance,” Ailie Kofoid, director of Global Back Office Solutions at Lexmark, said. “Together we will streamline accounts payable processes across the region, while improving VAT tax deduction accuracy and reducing compliance costs.”
Latin American countries are employing stringent tax reporting requirements, such as Brazil SPED and Mexico eContabilidad, to ensure that the government receives an accurate amount of VAT tax revenue. The partnership will integrate AP processes with mandated tax reporting.
The partnership will use a combination of AP automation from Lexmark and Invoiceware’s solution for compliance in Latin America’s strict regulatory environment. The partnership will help companies manage compliance and optimize AP processes, including invoice collection, intelligent data capture, government validation, commercial approvals and associated fiscal reporting.
“We are happy to expand our relationship with Lexmark from a customer of Invoiceware to a partner where we will jointly help global companies manage compliance issues across Latin America,” Scott Lewin, president and CEO of Invoiceware International, said. “This provides multinationals with an opportunity to leverage our combined business process expertise and minimize the risks of compliance errors.”
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