Michael calikusu. kraft foods. e inv

Michael Calikusu Finance Director Kraft Foods Rus Electronic invoice: Kraft Russia experience ECR annual forum Moscow June, 3 rd 2010

Why are we doing this?
Building stronger customer relations
Dispute handling / Less customer-Kraft disputes
Shortened processing cycle times and increased accuracy at customer side
Increased efficiency
Virtually instant e-invoice data transmission to a customer
Faster access to invoice base and quicker search
Higher reconciliation rates both with customers and state tax authorities
Increased efficiency (cont.)
Less invoice corrections
Optimized working capital management and faster customer payments
Cost / waste reduction
Reduced printing and paper costs
Lower archive servicing costs

Watch-outs and concerns
Solution should be flawless from tax & legal standpoints
Solution should ease daily routine and increase work efficiency/productivity
Mind security & reliability
A clear framework of e-invoices correction should be developed
Principles of e-invoice circulation should include:
Taxpayer should be granted an opportunity to choose either paper or electronic invoicing, or a mix of both
Should be legal for both customer-supplier and taxpayer-state relations
Unified e-invoice format

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Michael calikusu. kraft foods. e inv

by ECR Community on Jun 10, 2010

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Michael calikusu. kraft foods. e inv — Presentation Transcript