StreamServe Inc. has announced the release of its EU-Invoicing software, a solution designed to handle the billions of invoices that are created and distributed annually throughout Europe.

StreamServe EU-Invoicing permits organizations in nine EU countries and Norway to ensure invoice authenticity and integrity in compliance with the 2001 European Union Invoice Directive (2001/115/EC). The EU countries that are currently supported by StreamServe EU-Invoicing are Belgium, Denmark, Finland, France, Germany, Ireland, Sweden, The Netherlands and the United Kingdom. StreamServe will continue to add EU member states that are supported by this solution.

With StreamServe EU-Invoicing, organizations can more effectively manage cross border distribution of invoices while also slashing costs by 60 percent or more.

StreamServe EU-invoicing is the first solution that enables organizations to choose between paper and electronic invoices using the same business process. This flexibility substantially streamlines the billing process and permits an easy transition from paper- based invoicing to e-invoicing, StreamServe's advanced customization options also make it possible for invoices to be used more effectively for targeted customer communications, which can help speed up the invoicing process and improve cash flow. 

The potential costs savings are quantifiable and significant. The Gartner Group has estimated that the average company sends out 75,000 invoices per month, and that electronic invoices are 60 percent cheaper to produce and distribute than paper-based invoices, $5 to $2. 

"By providing the ability to comply with the Danish E-invoicing Directive and to send e-invoices and paper invoices from the same business process, we have the flexibility to provide customers with invoices in any format via any channel they prefer," said Eric Balslev, product manager at TDC, one of Europe's leading telecommunications provider."

"That enables us to take advantage of the cost savings that result from e-invoicing, and it helps us nurture our customer relationships."

The solution has the necessary base components to support both types of electronic signatures needed to comply with requirements, Advanced Electronic Signatures and Qualified Electronic Signatures.  The StreamServe solution uses VAT (Value Added Tax) numbers to apply the correct digital signature. It also offers an archiving solution that can be tailored to meet invoice storage requirements.

StreamServe CEO Chris Stone commented, "We are proud that StreamServe is the first company to provide such high levels of flexibility for enabling companies to comply with the complexities of the EU-Invoicing Directive.  Organizations have been begging for the ability to handle both paper based and electronic invoices in the same system."

"We see Europe as the forefront of a new invoicing age and envision that this will soon be a global issue as well."