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DataCert's AIMS 3.7 Release Helps Corporate Law Departments Comply with Value Added Tax Regulations
AIMS 3.7 Gives Corporations Global View of Legal Spend and Includes Cross-Border Invoicing
and VAT Compliance
LONDON, July 10, 2006 - DataCert Europe Ltd., the leading global provider of electronic invoicing and legal spend management solutions, today announced that its newly released version of Advanced Invoice Management System (AIMS), AIMS 3.7, allows corporations and law firms to comply with the most stringent implementation of the European Union's requirements for legally compliant cross-border electronic invoice exchange. AIMS 3.7 enables corporations to easily receive invoices from law firms and other providers worldwide while building a valuable database of historical legal spend information.
Under European Union regulations, invoices must meet detailed and strict requirements for data content, invoice storage, transmittal, security and authenticity in order to recover the value added tax (VAT) paid for these services. These demands vary from country to country. The importance of this requirement is critical considering the volumes and value of VAT-controlled legal invoices processed annually by Fortune Global 500 corporations.
"We believe that AIMS 3.7 is the only legal electronic invoicing and spend management solution that aids compliance with cross-border European VAT laws," said Jeff Hodge, director and vice president of EMEA business development. "AIMS 3.7 simplifies VAT and other tax compliance issues for corporate law departments in Europe and beyond. By not paying attention to VAT compliance, corporations can incur costly fines and be unable to reclaim millions in VAT refunds."
AIMS 3.7 exposes only the information necessary within the electronic invoice (e.g. date, location of service, sender, recipient and VAT line item percentages and totals) to expedite VAT compliance. Additionally, each invoice is signed with an electronic certificate which is issued and verified by one of the leading certificate authorities in Europe. DataCert and its affiliates are compliant with the European Privacy Directive that requires protection of personally identifiable information, often contained in legal invoices.
Availability
AIMS 3.7 is available immediately. For more information, please contact DataCert at +44 207 849 3033 or e-mail emeainformation@datacert.com. For North American-based inquiries, please contact DataCert at 713-572-3282 or e-mail nasales@datacert.com.
About AIMS
Advanced Invoice Management System (AIMS) is DataCert's web-based application that not only facilitates the management of internal matters, projects and intellectual property but also expedites the approval and payment of electronic invoices between law firms and vendors and corporate law departments. Its primary purpose is to help managers control and manage internal work as well as proactively analyze corporate legal spend. Using AIMS, legal invoices are validated against established matter and project information and corporate outside counsel guidelines, routed, adjusted and approved, then posted to other internal systems and/or an accounts payable system.
About DataCert, Inc.
DataCert Europe and its affiliates are the largest and fastest-growing suppliers of electronic invoicing and corporate legal spend management solutions for FortuneŽ Global 500 companies worldwide. DataCert's products and services provide a substantial return on investment to corporations looking to better manage internal work and reduce outside legal spending. DataCert Europe and its affiliates have more than 6,300 customers worldwide, 45 of which are Fortune Global 500 companies, and processes in excess of $9 billion of e-invoicing data on an annualized basis. For more information, please visit www.datacerteurope.com or www.datacert.com.
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