Did you know that one of the main challenges for those NetSuite-using companies operating (or seeking to operate in Mexico) is the use of electronic invoices?
In order to generate these documents, companies must comply with a series of accounting requirements that are constantly changing due to the recurring diverse resolutions from the Mexican Tax Administration Service.
Did you know there is a solution specially designed to solve this problem within your own Oracle NetSuite Cloud ERP? Then keep reading this blog.
Mexico? A great choice?
Mexico has become a key region for foreign direct investment (FDI). According to the World Investment Report, Mexico is the fifteenth largest recipient of FDI in the world.
The investment made in this country, whose origin is mainly North American and European, is directed to 4 sectors:
In addition to this, it is worth mentioning that 500 of the largest Latin American companies are also present in Mexico. So… Yes! Mexico is a perfect region for expansion.
However, as large companies continue to set up operations and expand in Mexico, the government has put in place challenging legislation (a very common feature in most Latin American countries) in order to prevent fraud in their operations.
Fortunately, for NetSuite-using companies, there is a solution that solves this problem and many more.
How do NetSuite-using companies deal with Mexico e-invoicing?
The LatamReady SuiteApp is a solution that runs 100% natively within Oracle NetSuite Cloud ERP: the #1 cloud ERP in the world.
This SuiteApp is capable of being constantly updated according to the regulations established in Mexico (and several other Latin American countries) to meet the changing demands of legal compliance.
Also, the LatamReady SuiteApp possesses key features for accomplishing e-compliance in Mexico within NetSuite such as:
- Electronic invoicing templates
- Tax withholding functions
- Electronic payment templates
- Taxes that synchronize with NetSuite’s standard tax definitions
- Electronic reporting
The LatamReady SuiteApp: For Mexico and all Latin America e- compliance
So, is this NetSuite solution what you need to get full tax compliance in Mexico? Yes!
And for the rest of Latin America? Of course!
Since 2009, the LatamReady SuiteApp became NetSuite’s leading application in Latin America due to its extensive knowledge and experience in the tax and legal regulations of each country in the region.
This SuiteApp enables the transmission of electronic invoices with the ability to use a pre-built connection. It also allows companies to comply with the requirements related to electronic invoice processing, increasing efficiency and decreasing the costs associated with existing invoice processing methodologies.
Plus, the LatamReady works seamlessly within NetSuite! Could it get any better?
So, now we know that…
- Mexico is an ideal region for the expansion of any company as it is the fifteenth largest FDI recipient country in the world. However, due to its success, the Mexican government has put in place challenging legislation to prevent fraud in its operations.
- For NetSuite-using companies, there is a solution that solves this problem and many more: the LatamReady SuiteApp. This NetSuite solution helps you to accomplish e-compliance in Mexico and several other Latin American countries.
- The LatamReady SuiteApp became NetSuite’s leading application in Latin America due to its extensive knowledge of the tax and legal regulations of each country in the region, and its extensive experience working with the most challenging clients.
- This SuiteApp allows for increased efficiency and lower costs associated with existing invoice processing methodologies.
How does LatamReady power up Oracle NetSuite?
We are the #1 Oracle NetSuite partner in Latin America that, through the best ERP worldwide, will help you adapt to changes and grow your business.
Why should you choose us? Find out here.
Become a NetSuite expert in the LatamReady solution in our LatamDojo!
We want YOU to become the expert! That’s why we have a surprise: an e-learning platform (for our customers only) known as LatamDojo.
But… What is LatamDojo? What does it offer? Why should I use it? Here are the answers!
Chart a bold new path by adopting modern solutions for tax compliance challenges in Latin America with LatamReady.