{"id":21426,"date":"2025-05-09T09:33:06","date_gmt":"2025-05-09T02:33:06","guid":{"rendered":"https:\/\/fpt-is.com\/en\/?p=21426"},"modified":"2025-05-09T09:33:17","modified_gmt":"2025-05-09T02:33:17","slug":"fpt-einvoice-accompanies-businesses-in-unlocking-a-transparent-smart-and-automated-financial-system","status":"publish","type":"post","link":"https:\/\/fpt-is.com\/en\/fpt-einvoice-accompanies-businesses-in-unlocking-a-transparent-smart-and-automated-financial-system\/","title":{"rendered":"FPT.eInvoice accompanies businesses in unlocking a transparent, smart, and automated financial system"},"content":{"rendered":"

Electronic invoices \u2013 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.<\/b><\/span><\/p>\n

A prime example of this trend is FPT\u2019s FPT.eInvoice solution \u2013 the recipient of the Bronze Award at the 2025 Stevie Awards in the \u201cInnovation in Digital Transformation \u2013 Finance\u201d category \u2013 which is currently empowering more than 70,000 Vietnamese and international businesses to advance their comprehensive financial digital transformation journey.<\/span><\/p>\n

\"Fpt.einvoice<\/a><\/p>\n

FPT.eInvoice wins the Bronze Award in the \u201cInnovation in Digital Transformation \u2013 Finance\u201d category at the 2025 Stevie Awards<\/span><\/span><\/em><\/p>\n

Electronic invoices: A mandatory and inevitable legal requirement<\/b><\/span><\/h3>\n

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.<\/span><\/p>\n

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).<\/span><\/p>\n

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.<\/span><\/p>\n

Global trend: E-invoicing becomes the universal standard<\/b><\/span><\/h3>\n

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.<\/span><\/p>\n

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.<\/span><\/p>\n

Leading countries share a common trait: electronic invoices are not just tax control tools but the central foundation for financial and accounting digitalization \u2013 connecting internal data and linking with external ecosystems (banks, partners, regulatory bodies…).<\/span><\/p>\n

From compliance to automation: Where does your business stand?<\/b><\/span><\/h3>\n

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.<\/span><\/p>\n

A modern e-invoicing system must:<\/span><\/p>\n