Software provider – get ready for ViDA

The VAT in the Digital Age (ViDA) initiative brings significant changes to VAT compliance across the EU. While your customer are adapting to new e-invoicing and real-time VAT reporting regulations, you as software companies – especially if you’re providing accounting, financial management, and ERP solutions – have the unique opportunity to support your customers through this transition.

Not sure what ViDA even is? Read this blog post first.

How to prepare for ViDA as a software company

As businesses across the EU adjust to the transition to e-invoicing and real-time reporting, they’ll rely on software companies such as you to provide the tools that will ensure they comply with the upcoming ViDA standards. Here are the most important aspects you should consider when updating your software products accordingly.

1. Build ViDA understanding in your organisation

To develop compliant software, you need to make sure your organisation fully understands the key aspects of ViDA, especially e-invoicing, real-time reporting, and cross-border VAT management. It is important to stay informed about the timeline for the changes and adjust your development roadmap accordingly. Since VAT regulations can be complex, you should consider working with VAT experts, consultants, or even integration partners to ensure your software meets legal requirements. This can help take some of the pressure off your organisation and make sure that you always have the most up-to-date information at hand.

2. Integrate e-invoicing into your product

One of the most important changes brought by ViDA is the mandatory use of e-invoicing. As a software provider, your system should include e-invoicing capabilities that are up to the ViDA standards. Your system should be able to generate, send, and receive e-invoices in the required, machine-readable formats. This is essential in making your software compliant with the new VAT rules. E-invoicing solution providers, such as Maventa, offer a full e-invoicing infrastructure through API. Working with a partner can significantly reduce the time and effort it takes to offer compliant e-invoicing to your customers.

3. Enable real-time reporting

Real-time VAT reporting requires businesses to submit VAT transaction data as it occurs. To accommodate this, your software should automatically capture VAT details from each transaction and provide an integration with the necessary EU tax systems for seamless submission of VAT data. This means your customers don’t have to file VAT returns manually.

The goal of building these capabilities within your organisation and product is that your customers don’t have to worry about the ViDA changes – using your software will do it automatically for them.

Why should you act now?

It’s important to start preparing your software for ViDA as soon as possible. The regulatory deadlines are approaching fast, and e-invoicing will soon become mandatory for businesses across the EU, with different member states following one another. Failing to update your software to meet these standards could leave your clients exposed to compliance issues and penalties.

ViDA is not a one-time update — it will require ongoing maintenance and updates as new regulations are rolled out over time. This makes it essential to build a solution that is adaptable and scalable: your software should stay compliant long-term. Starting now will give you an advantage and make sure you’re ready when these regulations officially take effect.

Partnering up makes the transition smoother

Building a whole new feature or updating your current solution completely can sound pretty intense, right? The good news is that the market is full of e-invoicing solution providers that can help you get started with meeting the new standards. Partnering up with an experienced e-invoicing solution provider, such as Maventa, can help ease the transition. Why build everything yourself when there are ready-to-integrate solutions available?

Partnering with an e-invoicing provider brings several benefits:

• Complete e-invoicing solution and infrastructure via API

• Built-in compliance with ViDA standards

• Continuous updates according to regulations

• Freed-up resources for your development team to focus on other tasks

• Expert knowledge and support related to ViDA

• Scalable and seamless solutions that adapt to your customers’ needs

Why not start now?

Partnering with Maventa offers you all of the above-mentioned benefits, and more.