CorpoSign PAY Revolutionizing Digital Transactions with PEPPOL Network and iDenfy: Beyond e-Invoicing
In the digital era, seamless, secure, and efficient transaction processes are crucial for businesses of all sizes. The PEPPOL Network (e.delivery), an international framework that enables businesses to exchange standardised EDI securely, CorpoSign PAY, a comprehensive platform for digital transactions, advances electronic signatures and Request to Pay, and iDenfy’s cutting-edge identity verification services, combine to provide just that.
Figure 1. HIGH LEVEL PEPPOL CONCEPT
PEPPOL (Pan-European Public Procurement Online Network) emerged as an antidote to the complex custom Electronic Data Interchange (EDI) integrations, which were often specific to national standards or closed ecosystems. PEPPOL utilizes open and global standards like UBL (Universal Business Language) and UN/CEFACT (United Nations Centre for Trade Facilitation and Electronic Business) for its EDI, providing interoperability between different software and systems.
By offering a standardized EDI, PEPPOL leveled the playing field, allowing businesses, regardless of size, to participate in the digital transaction landscape. Its widespread adoption is gradually transforming it from a European standard into a global one, with countries outside the EU like Australia, Singapore, Canada, New Zealand, and South Africa, United States, Japan, also implementing PEPPOL for B2B e-invoices and B2G invoices. As an international network, PEPPOL enables businesses to exchange business-critical e-invoices securely with hundreds of thousands of public and private entities. With PEPPOL invoices becoming the new norm in the European Union since 2020, the shift towards this standardized EDI is no longer an option but a necessity for businesses operating in this space.
Figure 2. Peppol Network Key Benefits
Figure 3. Peppol Network 4-corner model low level with CorpoSign PAY and Certified access point
The benefits of PEPPOL extend beyond mere e-invoicing. It supports the exchange of various electronic documents such as orders, order confirmations, goods catalogues, shipping documents, waybills, bill of ladings (BOLs), eCMR’s, eReceipts and others. PEPPOL is all about creating an efficient business communication network. Moreover, its compatibility with machine-readable files is revolutionary, streamlining and accelerating the procurement and payment process across various sectors, including finance, logistics, manufacturing, medicine, and more.
Managed by the independent association, OpenPEPPOL, PEPPOL is devoid of any political obstacle, paving the way for more “islands” to join the same standard, thereby widening its reach and benefits.
CorpoSign PAY fully embraces this versatility. From invoicing to sending Request-to-Pay (RtP) messages, to managing transaction histories, CorpoSign PAY ensures that the process is seamless, secure, and efficient. With its integration to the PEPPOL Network, CorpoSign PAY doesn’t just enable businesses to send RtP messages and e-invoices. It goes beyond that, offering users the flexibility to Pay-now, Reject, Accept, or Pay-later, all these transactions are securely recorded, providing users a complete transaction history, for effective financial management.
Figure 4. CorpoSign PAY’s Request to Pay integrated with Peppol Network (e.Invoice with payment request example)
Furthermore, enhancing the power of CorpoSign PAY’s integration with the PEPPOL Network is its successful collaboration with iDenfy. This integration of Know Your Customer (KYC) and Know Your Business (KYB) authentication adds an essential layer of security to the platform. This verifies the identity of individuals and businesses, providing an additional layer of trust, reducing potential fraud, and ensuring the accuracy of digital transactions. This integration is particularly beneficial to the PEPPOL Network and RtP operations.
Figure 5. CorpoSign pay x idenfy kyb procedure
A notable highlight of CorpoSign PAY’s integration with the PEPPOL Network is its compatibility with various ERP systems, including one of Lithuania’s most popular ERPs, Rivile. This ERP integration means Rivile’s clientele can now enjoy the benefits of streamlined e-invoicing and seamless payments offered by CorpoSign PAY.
In addition, CorpoSign PAY ensures that you have your vendors’ documents in one place. Its platform allows you to archive all these documents, streamlining your operations, and making it easier to keep track of your transactions. With CorpoSign PAY, managing electronic documents becomes less of a chore and more of an advantage.
CorpoSign PAY also shines when it comes to security. It uses CorpoSign’s blockchain technology to store RtP message signatures in a decentralized private ledger, guaranteeing the integrity and safety of both customers and payees. This way, businesses can focus on growth and productivity, knowing that their financial transactions and document exchanges are in safe hands.
Figure 6. CorpoSign’s example of blockchain signed document
When it comes to payment speed, the integration of RtP and PEPPOL with Payment Initiating Services results in unprecedented transaction times. Payments can be almost instantaneous and, in most cases, complete within just five minutes. This drastically reduces waiting times and costs associated with traditional procurement and payment processes, presenting a highly efficient alternative for businesses.
With its comprehensive features, top-tier security measures, and commitment to boosting business efficiency, CorpoSign PAY is carving out a future where e-invoicing and seamless payments are the norm, not the exception. Whether you’re a small business owner or manage a large enterprise, it’s time to explore what CorpoSign PAY can do for you.
In a nutshell, CorpoSign PAY with PEPPOL and iDenfy are redefining the way businesses handle electronic transactions. From facilitating the exchange of a wide range of e-documents to offering a secure platform for managing and paying these documents, they are shaping a future where digital transactions are effortless, secure, and efficient.
If you are ready to transform your business’s digital transaction process, get in touch with us today to join our certified PEPPOL access point (eDelivery LT) and see what CorpoSign PAY with PEPPOL and iDenfy can do for you.
PEPPOL Network, Peppol saskaita, e.receipt, e.delivery, AS4, SMP/SML, eSignature, Peppol payment, EDI, Standardised EDI,e.invoices, e-invoices, CorpoSign PAY, RtP, Pay-now, Reject, Accept, Pay-later, Document management, Blockchain security, iDenfy, ERP, POS, integration, Payment Initiating Services, KYC, KYB, Rivile, Rivile Peppol, Rivile Lithuania, B2B e.invoices, B2B e-invoice, B2G e.invoices, B2G e-invoice, UBL, UN/CEFACT, 4-corner model, OpenPEPPOL.
Join the learning journey!
Invaluable insights and industry trends, right in your mailbox.
