FPT.eInvoice accompanies businesses in unlocking a transparent, smart, and automated financial system

Electronic invoices – from a mandatory requirement to a critical competitive strategy. While many businesses are still struggling to submit invoices on time to the tax authority, the pioneers have quietly made breakthroughs, transforming the invoice into an automated tool that helps optimize costs, prevent fraud, and enable global connectivity.

A prime example of this trend is FPT’s FPT.eInvoice solution – the recipient of the Bronze Award at the 2025 Stevie Awards in the “Innovation in Digital Transformation – Finance” category – which is currently empowering more than 70,000 Vietnamese and international businesses to advance their comprehensive financial digital transformation journey.

FPT.eInvoice wins the Bronze Award in the “Innovation in Digital Transformation – Finance” category at the 2025 Stevie Awards

Electronic invoices: A mandatory and inevitable legal requirement

In Vietnam, the transition from paper invoices to electronic invoices has been formalized through Decree 119/2018/ND-CP and later Decree 123/2020/ND-CP, with mandatory nationwide implementation starting from July 1, 2022. Concurrently, Government Resolution 57/NQ-CP designates electronic invoicing as one of the key pillars promoting digital transformation in financial operations, aiming toward the development of a digital economy.

As of the end of October 2024, the tax authority had received and processed approximately 10.58 billion electronic invoices, including 2.59 billion coded invoices and more than 6.97 billion uncoded invoices. Notably, the number of invoices generated from cash registers exceeded 1.3 billion, 13 times higher than in 2023 (105 million invoices). The number of business establishments registered to use invoices generated from cash registers also surged, reaching 92,080, 2.3 times higher than at the end of 2023. Revenue recorded through cash-register-generated invoices reached VND 686 trillion, a 7.4-fold increase compared to 2023 (VND 93 trillion).

However, the level of adoption remains uneven: while many businesses only comply at a minimal level to meet regulatory requirements, pioneering enterprises are leveraging technology to comprehensively upgrade their financial management systems.

Global trend: E-invoicing becomes the universal standard

Not only in Vietnam, electronic invoicing is increasingly becoming a mandatory standard worldwide. Countries such as South Korea, Japan, China, Mexico, Brazil, and many European nations have all implemented large-scale electronic invoicing systems, requiring direct connection with national tax platforms.

In the EU, Directive 2014/55/EU mandates the use of e-invoicing for public procurement transactions from 2020. In Asia, South Korea adopted electronic invoicing in 2011 and is now one of the countries with the highest adoption rate globally, with a system synchronized among enterprises, banks, and tax authorities. Mexico and Brazil have taken it further by integrating electronic invoicing into supply chains and international trade, enabling businesses to trace, manage cash flows and goods in real-time.

Leading countries share a common trait: electronic invoices are not just tax control tools but the central foundation for financial and accounting digitalization – connecting internal data and linking with external ecosystems (banks, partners, regulatory bodies…).

From compliance to automation: Where does your business stand?

Legal and technological changes have raised the bar for enterprises: it is no longer sufficient to just issue and submit invoices to tax authorities on time. Businesses must now move toward process automation, system integration, data security, and international standardization.

A modern e-invoicing system must:

• Automatically issue, store, and deliver invoices in real time;
• Integrate seamlessly with ERP systems, accounting software, banks, and tax authorities;
• Meet stringent standards for data security, electronic authentication, and data synchronization;
• Be flexibly customizable to fit the enterprise’s governance model and market type (B2B, B2C, multi-branch, multilingual…)

“Electronic invoicing is not just a paper form converted into digital. It is the gateway to a smart, transparent, and automated financial system. When a business controls each invoice line, it also controls its cash flow, data, and growth strategy. E-invoicing reduces errors, speeds up processing, and connects seamlessly with other systems. More importantly, it lays the foundation for global expansion. Those who lead gain not only technological advantages but also modern governance mindsets,” said Mr. Nguyễn Tá Anh, Deputy Director of MBF eCo Center at FPT IS, FPT Corporation, when speaking about e-invoicing.

For large-scale enterprises or those aiming to expand internationally, implementing a standardized electronic invoicing system not only saves costs and reduces errors and risks but also enhances competitiveness and global connectivity.

FPT.eInvoice – Optimized Management, Ready for Global Integration

In a challenging market with increasingly strict compliance requirements, FPT.eInvoice from FPT Corporation stands out as a comprehensive electronic invoice solution, enabling businesses to overcome all challenges related to security, compliance, and system integration. Designed with high flexibility, FPT.eInvoice supports enterprises operating in various countries with different tax regulations and policies, and integrates with top ERP systems such as SAP, Oracle, Microsoft Dynamics, Odoo, and many other financial platforms.

With over 70,000 customers worldwide and more than 2 billion invoices issued, FPT.eInvoice has proven its adaptability for businesses across diverse sectors such as finance, banking, insurance, retail, e-commerce, petroleum, and the public sector. Key clients include Bảo Việt Insurance, Petrolimex, Vietjet Air, Mirae Asset Finance Company, PNJ, Mobile World, VNG, Lazada, Vietnam Posts and Telecommunications Group (VNPT), and numerous provincial departments and government agencies.

One of the major strengths of FPT.eInvoice is its capability to automate the invoicing process, allowing businesses to automatically validate invoices with tax authorities, minimize errors and fraud risks, and ensure accuracy while promoting financial data transparency. This solution helps businesses not only comply with the law but also improve operational efficiency and reduce costs, delivering a competitive edge in the context of globalization.

FPT’s Vision: Advancing Further with E-Invoicing

With 36 years of experience in digital transformation, FPT has successfully implemented tax and electronic invoicing solutions for enterprises across Asia and globally. FPT’s future goal is to expand the application of electronic invoicing to more countries and collaborate closely with financial and tax authorities to not only support compliance but also drive comprehensive digital transformation.

FPT.eInvoice is not just an e-invoicing solution; it is part of a global digital financial ecosystem, where all financial data and processes are automated, secure, and optimized. With system interconnectivity and automation features, FPT.eInvoice is the ideal platform for businesses looking to advance in their digital transformation journey while reducing costs and enhancing competitiveness in a rapidly evolving global economy.

With a clear legal framework in place and technology ready, digital transformation does not have to begin with a million-dollar project – sometimes, it only takes a simple decision: to see e-invoicing not just as an obligation… but as an opportunity to rise.

In the broader picture of digital transformation, electronic invoicing is one of the first and most essential building blocks. Starting from the digitalization of a single document, businesses can gradually build a modern financial – accounting – tax data foundation, heading toward a transparent, efficient, and sustainable management system.