This strategic partnership aims to streamline
compliance with Germany's evolving
e-invoicing mandates through OpenText's advanced cloud
solutions
WATERLOO, ON, Sept. 5,
2024 /CNW/ -- Nippon Gases Deutschland, the
German business unit of Nippon Sanso Holdings Corporation (NSHD) an
industrial and medical gases company, is partnering with
OpenText™ (NASDAQ: OTEX), (TSX: OTEX), to expedite the
implementation of mandatory B2B e-invoicing in Germany, ahead of the January 1, 2025 deadline. By leveraging OpenText™
Active Invoices with Compliance, Nippon Gases Deutschland will
equip its tax and invoicing teams with innovative tools to
confidently navigate, document, and manage the complexities of
e-invoicing regulations and industry-specific challenges, ensuring
both transparency and full compliance throughout.
"The absence of a universally accepted international standard
for e-invoicing is a critical issue for us. Managing the diverse
e-invoicing regulations across various markets, particularly
Germany's specialist and evolving
requirements, creates substantial hurdles," said Stephan
Keysselitz, Finance Director at Nippon Gases Deutschland. "The lack
of standardization means that each market can enforce its own
rules, heightening the risk of non-compliance, which could lead to
severe penalties and significant operational disruptions. Given
these complexities, adopting a proactive strategy to stay ahead of
regulatory changes is crucial. Partnering with a trusted provider
like OpenText enables us to implement a flexible and comprehensive
solution that safeguards compliance while streamlining our
processes and effectively mitigating risks."
Germany's e-invoicing
regulations differ from other European countries by not mandating a
specific method for exchanging and reporting invoices. Instead, the
focus is on approved formats for electronic invoices and the
requirements for their issuance and receipt. OpenText will support
Nippon Gases Deutschland in adapting to these distinctive
requirements, facilitating a smoother transition and process
adjustments for its tax and invoicing teams.
OpenText's fully managed business network cloud and e-invoicing
platform is designed to streamline operations by automating manual
processes. This highly scalable platform integrates with
industry-standard ERP, e-procurement, order management, and
accounts payable systems, accelerating payment processes while
ensuring regulatory compliance across multiple global markets.
Keysselitz continued: "Choosing OpenText as our partner was a
strategic decision. Their expertise and adaptable e-invoicing
solutions provide the confidence we need to meet Germany's complex regulatory requirements
effectively. This partnership not only promises compliance but also
boosts the efficiency and reliability of our invoicing processes.
By implementing OpenText's advanced technology, we can improve
operations, reduce errors, and empower our team to focus on
strategic initiatives, ultimately driving greater value for our
business."
The OpenText cloud suite, including OpenText Active Invoices
with Compliance and OpenText™ Business Network Cloud Foundation,
simplifies e-invoicing compliance across more than 50 countries and
offers B2B integration for small and mid-sized businesses. With
these comprehensive solutions, OpenText will help Nippon Gases
Deutschland reduce invoicing time, minimize errors, expedite
payments, and mitigate non-compliance risk.
"E-invoicing is not a new concept," said Muhi Majzoub, EVP &
Chief Product Officer at OpenText. "The real challenge lies in the
varying digital capabilities of trading partners are the increasing
complexity of regulatory requirement. A one-size-fits-all solution
cannot address the multifaceted needs of a business and its diverse
trading partners, therefore, to navigate these difficulties, a
tailored and flexible approach – that can be scaled - is
essential."
Majzoub concluded, "Our suite of business network solutions is
carefully designed to simplify compliance and address ever evolving
regulatory requirements with ease. By utilizing these tools, we
enable Nippon Gases Deutschland to focus on their core operations
while OpenText's smart technology removes the burden of complex
regulatory red tape. Our proven approach not only ensures robust
adherence but also increases operational efficiency, empowering
businesses to navigate developing regulations with confidence and
precision."
Additional Resources:
- Read the 2024 Guide to Global e-Invoicing Mandates
- Read the blog: e-Invoicing mandates and updates: Germany
- Discover the key benefits of e-Invoicing solutions
- To learn more about OpenText™ Business Network Cloud
Enterprise, read here.
About OpenText
OpenText, The Information Company™, enables organizations to
gain insight through market leading information management
solutions, powered by OpenText Cloud Editions. For more information
about OpenText (NASDAQ: OTEX, TSX: OTEX)
visit opentext.com
About Nippon Gases:
Nippon Gases, one of the leading industrial and medical gases
companies in Europe, is part of
the Nippon Sanso Holdings Corporation, which has over 100 years of
experience and also boasts a major presence in Japan, Southeast
Asia, Australia,
the United States and Canada, operating in 31 countries with more
than 19,000 employees around the world. Our presence in
Europe positions us as a leading
company with over 3,200 employees of which 27.9% are women,
operating today in 13 countries and serving more than 150,000
customers.
Safety, priority number one in our company, is constantly
improving due to the search for risk factors and behaviors, and the
observance of our safety principles by all our employees. Nippon
Gases commitment to our customers, employees and associates and to
the communities in which we operate is a reflection of our
dedication to the environment and to sustainability.
Together, we are "The Gas Professionals" and we all have the
same goal: "Making life better through gas technology".
The company is also an industry leader in Germany and is certified to ISO 9001, 14001
and 50001. With 14 of its own locations and about 200 sales
partners, Nippon Gases has a nationwide presence.
Connect with us:
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blog
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Certain statements in this press release may contain words
considered forward-looking statements or information under
applicable securities laws. These statements are based on
OpenText's current expectations, estimates, forecasts and
projections about the operating environment, economies and markets
in which the company operates. These statements are subject to
important assumptions, risks and uncertainties that are difficult
to predict, and the actual outcome may be materially different.
OpenText's assumptions, although considered reasonable by the
company at the date of this press release, may prove to be
inaccurate and consequently its actual results could differ
materially from the expectations set out herein. For additional
information with respect to risks and other factors which could
occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports
on Form 10-Q and other securities filings with the SEC and other
securities regulators. Readers are cautioned not to place undue
reliance upon any such forward-looking statements, which speak only
as of the date made. Unless otherwise required by applicable
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update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. Further,
readers should note that we may announce information using our
website, press releases, securities law filings, public conference
calls, webcasts and the social media channels identified on the
Investors section of our website (https://investors.opentext.com).
Such social media channels may include the Company's or our CEO's
blog, Twitter account or LinkedIn account. The information posted
through such channels may be material. Accordingly, readers should
monitor such channels in addition to our other forms of
communication.
Copyright © 2024 OpenText. All Rights Reserved. Trademarks owned
by OpenText. One or more patents may cover this product(s). For
more information, please
visit https://www.opentext.com/patents.
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