Peppol is not a platform, but describes itself as “a set of technical specifications that can be implemented in existing eProcurement solutions and eBusiness exchange services to make them interoperable between disparate systems across Europe.”
Singapore uses an invoice format called InvoiceNow.
In announcing its product’s Peppol approval by Singaporean authorities, xSuite stated in the release: “Using xSuite’s solution, companies can send, receive and correctly display electronic invoices in accordance with IMDA standards. The associated workflow also ensures SAP-integrated, automated processing of incoming invoices. Through xSuite, companies can register themselves on the platform for the Service Metadata Publisher (SMP) for Singapore’s Nationwide eInvoicing Network. The product is geared toward Singaporean companies that use SAP, ERP or SAP S/4HANA and that aim to accept and process electronic invoices.”
Founded in 1994, xSuite has more than 200 employees and offices in Germany, Denmark, the Netherlands, Singapore, Slovakia, Spain and the United States. The company reported 2019 revenue of $43.3 million, according to its website.
xSuite announced in August that its Group Business Partner Portal Sphere would work on SAP’s cloud platform.
One of the lessons of 2020, according to leaders in the payments industry, was that automating systems such as invoice processing and accepting electronic payments increases the efficiency of receivables collection.