The Ministry of Finance in the Republic of Serbia has recently implemented a new central Electronic Invoicing System (SEF). All the invoices that banks (or any other business subjects) create for B2B clients have to be uploaded to SEF, and then accepted or rejected by the recipient, removing manual invoice sending between businesses.
For banks, which create great amounts of invoices, this requirement posed a significant challenge, especially taking into account the short deadlines for adaptating to all the regulator’s requirements. Also, the new law requires banks to send invoices even for the services they did not have to invoice before, such as fees, interests, etc., further increasing the number of documents.
To address this business need, ASEE has developed the automated data collection and creation of electronic invoices, that are directly sent to SEF, complemented with automatic acceptance of incoming invoices (also via SEF), which are then uploaded in the book of invoices in Core Banking System to be processed further. The solution is communicating with the entire CBS – domestic and international payments, cards, credit and deposit transactions, documents etc. Additionally, the interface was developed using BC API technology, enabling connection to other vendor’s systems.
Since this change applies to all banks on the market, ASEE got involved in 10 parallel implementations of this solution, and all of them were done successfully.
All 10 were completed in the holiday period from December 2022 to January 2023, strenghtening ASEE’s position as a credible and trusted partner our clients can rely on.