eReceipt - are we ready for this?

The European Committee for Standardization (CEN) created and published the European standard on electronic receipt (eReceipt) in response to a request from the European Commission. CEN is the organization that oversees the rights to European standards. An agreement between the European Commission and the European Standards Institute (CEN) was struck on December 18, 2018, granting open access to the first and second parts of the eReceipt standard:

• Semantic data model (SDM) is an abbreviation term (EN 16931-1: 2017).

• CEN/TS 16931-2: 2017 specifies the two syntaxes that are required.

Whenever derivative usage is permitted, the agreement grants unlimited access to the data model and compliance syntaxes for as long as the semantic data model and compatible syntaxes are maintained in their present state.

The following are some of the ways it will benefit the information technology industry:

• Finding a solution to the problem of electronic invoicing in the public sector
• Invoice billing system castings for use in the building of a billing system.
• Keeping the invoicing system up to date and making improvements to it
• In addition, it will serve as a billing system for small businesses (which does not have any now)
• An API for the automated storage and retrieval of invoices

The following are the advantages to the purchaser:

• A variety of invoices in several formats (XML, EDI, PDF, XLS)
• Information about your account and the things that you have stored (do not have to enter each time)
• Document archiving and storage
• For all suppliers, a centralized invoicing system has been implemented.

In addition, we would be saving paper, which would result in our needing less paper in the future. What are your thoughts? Please let us know your opinion.