FPT.PetroInvoice completely “troubleshoots” the issuance of retail gasoline invoices

Tens of thousands of gas stations in Vietnam are required to set up hardware and software systems in January 2024 to issue retail invoices for each sale, according to Decree No. 123/2020/NĐ-CP. To tackle this urgent issue before the “zero hour”, FPT IS has introduced an AI-powered electronic invoice solution, FPT.PetroInvoice, tailored for the petroleum industry, and capable of fully addressing problems of cost and process.

The challenges businesses face when issuing retail gasoline invoices

Decree No. 123/2020/NĐ-CP issued recently by the Vietnamese Government stated that “The time to issue electronic invoices for the sale of gasoline at gasoline and diesel retail stations is the time when the gasoline sale ends for each sale.” The issuance of electronic invoices for each sale at petrol stations aims to create transparency and equality in petroleum production and sales among businesses.

Particularly, Vietnamese Prime Minister Pham Minh Chinh signed Official Dispatch No. 1284/CĐ-TTg dated December 1, 2023 on strengthening the management and use of electronic invoices for petroleum trading and retail. Recently, in the 7th meeting of the National Committee on Digital Transformation, which summarized activities in 2023 and set out directions and key tasks for 2024, the Prime Minister also directed Vietnam’s Ministry of Finance to develop and submit policies and regulations for promulgation to push the application of electronic invoices and the digitalization of tax, fees and charge collection, especially regarding petroleum services.

Records from the Vietnam Petroleum Association showed that the country has an estimated more than 17,000 gasoline and diesel retail stations. According to regulations, these petrol stations are required to transform their equipment and technology infrastructure to meet the requirements for issuance of electronic invoices to customers after each sale and connection with the tax authorities for transmission and reception of invoice data.

Based on the characteristics of the petroleum industry and the current state of the distribution system, the Ministry of Industry and Trade estimates that businesses and retail stations will have to spend from VND 400 million to over VND 1 billion for software and the replacement of fuel pumps and hardware such as flow meters and counters for each pump. This may lead to the closure of a large number of gas stations, which in turn causes supply interruption and impacts on the market.

Only a few petroleum companies are qualified for retail invoice issuance for each sale so far, while tens of thousands of gas stations of other petroleum retail companies are working on transformation plans with obstacles such as heavy investment costs and long implementation times of 1-3 years.

Optimal solution in terms of technology, cost and legality

FPT IS, the leading IT company in Vietnam, with its in-house experienced experts have developed a software and hardware solution suite tailored for the petroleum industry, which includes: a petrol station management system (record management, tank & pump management, sales data management); an electronic invoice solution, FPT.PetroInvoice, for transmission and reception of invoice creation data for each sale; a smart camera solution, FPT.PetroInvoice AI, for pump data reading; a smart hardware device for automatic pump data recording and export.

According to Mr. Le Thanh Bac, Director of FPT IS Electronic Service Center, the FPT.PetroInvoice solution was developed based on the profound understanding of the core problems encountered by petroleum companies in retail invoicing: “With nearly 30 years of experience working closely with the tax authorities, the ability to provide electronic invoice solutions to numerous big customers in the market, and a team of experienced experts in artificial intelligence (AI), FPT IS commits to going hand in hand with petroleum companies to deploy electronic invoicing solutions with technology conversion costs as low as VND 2 million, usage costs from VND 50 per electronic invoice; and deployment times of 1 day per gas station, regardless of the pump types. Apart from invoice generation, we also offer comprehensive solutions for easy and effective petrol station management, including tank, pump, sales management, etc.

FPT.PetroInvoice completely solves the problem of gasoline retail invoicing.

FPT IS develops different technology adoption approaches for invoice issuance of each sale based on the types of fuel pumps.

For pumps that are capable of transmitting and receiving sales data, only integration of sales software with the invoicing solution FPT.PetroInvoice is required.

For pumps that can be upgraded to transmit and receive sales data, FPT IS will survey those dispensers to classify, evaluate and replace/install additional meters, counters, and datacontroler. Accordingly, the station’s system will be capable of integrating with FPT.PetroInvoice for synchronous, comprehensive and quick processing of electronic invoice issuance. FPT IS has successfully deployed and upgraded systems for all Saigon Petro Co.,Ltd. (Saigon Petro) gas stations since 2022. Going forward, we will continue offering our solutions to customers in need.

For old pumps that fail to transmit and receive sales data, FPT IS will install an additional smart camera (FPT.PetroInvoice AI) to automatically read and extract data displayed on the pump screen and generate invoices in accordance with the provisions of the tax law.

The solution is a good fit for small-scale petrol stations since it optimizes costs with a quick deployment process regardless of the pump types. Gas stations are only required to install FPT IS’s AI Camera without the need for upgrade or replacement of pump equipment. The solution reads the exact amount of each sale on the electronic screen of the pumps, automatically sending it to the FPT.PetroInvoice system to create invoices in accordance with regulations. The FPT.PeotroInvoice AI system will be an effective support tool for ministries and departments in petroleum business management. Currently, our product has been deployed to various petrol stations in Nam Dinh, Hai Duong, Hai Phong, Lao Cai…

According to Mr. Dao Xuan Oanh – Owner of Hoang Oanh Petroleum Company (Kien Quoc, Kien Thuy, Hai Phong), the invoicing process was optimized and became convenient after his company was consulted and had equipment and retail invoicing software installed by FPT IS. “FPT.PetroInvoice with smart camera is a convenient, fast, easy-to-integrate-and-use retail invoicing solution, especially at a very reasonable cost for independent and small-scale gasoline stations like us”.

Camera-equiped (sealed) FPT.PetroInvoice AI solution that reads the amount on the electronic pump screen as soon as gasoline is sold to issue retail invoices.

FPT IS’s gasoline retail invoicing solution suite comes with significant features: AI technology adoption for accurate electronic invoice issuance; seamless integration with inherent management software of petroleum companies, supporting daily data reconciliation and inspection; dynamic QR Code payment on mobile apps and successful payment confirmation on mobile devices, etc. Our products offer gasoline companies fast, effective, cost-optimized solutions for retail invoicing.

For more information on our solutions, please visit here or contact the hotline 0919626829/1900636191.