Electronic invoice: Kraft Russia experience

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Electronic invoice: Kraft Russia experience

  1. 1. Michael Calikusu Finance Director Kraft Foods Rus Electronic invoice: Kraft Russia experience ECR annual forum Moscow June, 3 rd 2010
  2. 2. Why are we doing this? <ul><li>Building stronger customer relations </li></ul><ul><ul><li>Dispute handling / Less customer-Kraft disputes </li></ul></ul><ul><ul><li>Shortened processing cycle times and increased accuracy at customer side </li></ul></ul><ul><li>Increased efficiency </li></ul><ul><ul><li>Virtually instant e-invoice data transmission to a customer </li></ul></ul><ul><ul><li>Faster access to invoice base and quicker search </li></ul></ul><ul><ul><li>Higher reconciliation rates both with customers and state tax authorities </li></ul></ul>
  3. 3. Why are we doing this? (cont.) <ul><li>Increased efficiency (cont.) </li></ul><ul><ul><li>Less invoice corrections </li></ul></ul><ul><ul><li>Optimized working capital management and faster customer payments </li></ul></ul><ul><li>Cost / waste reduction </li></ul><ul><ul><li>Reduced printing and paper costs </li></ul></ul><ul><ul><li>Lower archive servicing costs </li></ul></ul>
  4. 4. Watch-outs and concerns <ul><li>Solution should be flawless from tax & legal standpoints </li></ul><ul><li>Solution should ease daily routine and increase work efficiency/productivity </li></ul><ul><li>Mind security & reliability </li></ul><ul><li>A clear framework of e-invoices correction should be developed </li></ul><ul><li>Principles of e-invoice circulation should include: </li></ul><ul><ul><li>Taxpayer should be granted an opportunity to choose either paper or electronic invoicing, or a mix of both </li></ul></ul><ul><ul><li>Should be legal for both customer-supplier and taxpayer-state relations </li></ul></ul><ul><ul><li>Unified e-invoice format </li></ul></ul>

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