For some years now, the international community has been converging towards a common standard in payment systems: ISO 20022. The stated aim is the creation of a universal communication scheme between financial institutions, standardised and harmonised, with the ultimate aim of generating greater efficiency in the processes of all those involved in the payment system.
At the Swiss level, the slow but ineluctable migration is already underway towards an ambitious goal: by 2025, 80% of payments will have to be processed electronically. The first steps have already been implemented. A few years ago, in fact, the above-mentioned ISO20222 payment standards were introduced, such as, for example, the .CAMT and .PAIN files for a progressive replacement of DTA, Direct Debit and other purely local solutions.
What's new
Another interesting new feature is the introduction of eBills for the digital issuing and payment of invoices. With this solution, instead of receiving invoices by post or e-mail, invoices are transmitted securely and digitally directly into the e-banking system. Receiving invoices on the same platform where the payment is made allows you to check the data and process the payment with a simple click.
However, the biggest changes will take place in the near future with the introduction of the QR invoice, which will replace the more than seven current payment slips. As explained in a previous article in this blog, from June 30, 2020 companies will have to be able to pay QR-invoices. The advantages are unquestionable, both for the sender and the recipient of the invoice:
- Simplified invoice management
- All payment information is digitally integrated into the QR code
- Reduction of reading errors
- Save time and money with less manual work
- Electronic transmission of all payment information
- Print on white paper
The QR invoice thus represents the link between the paper world and the digital world, paving the way for a progressive automation of active and passive invoicing and related accounting.
Preparing for change
Therefore, you need to prepare in good time: as of July 2020, you may receive the first QR invoices to be paid. Therefore, the payment software and creditors, as well as the hardware and software of the readers and scanning platforms must be adapted and prepared in time for the processing of QR-bills.
Who can help you with this?
Fidigit, a company of the Fidinam Group, is able to support you in complying with international payment standards ISO 20022 and your accounting software. Born from the union of several professionals coming from different areas of the Fidinam Group, Fidigit offers IT consulting services in the field of business, accounting and administrative services for companies.
To make an appointment without obligation, click here
