Beginning May 1, 2024: Automated and Efficient Digital Invoice Processing

Since May 1st, VEINLAND has switched to automated and efficient digital invoice processing by using DATEV Unternehmen online (DUO). This solution is being implemented in close collaboration with the accounting firm bdp Bormann Demant & Partner in Berlin. This measure promises an environmentally friendly, improved, secure, and efficient handling of invoice processes. By complying with the ISO 20022 standard (mandatory from January 1, 2025), interoperability and data security are to be ensured. It remains to be seen whether all governmental expectations for combating money laundering and VAT fraud will be met, and what will happen with cyberattacks, payment losses, and corporate liability. There is no international regulation on this topic yet.