Public, private partners to start electronic billing pilot

Public and private sector partners in Ecuador plan to launch a three-month pilot of an electronic billing system in January, according to Xavier Riera, president of local systems integrator Eikon. Eikon and five partners selected a Spanish system for the electronic billing system, which has subsequently been absorbed into the Organization for the Advancement of Structured Information Standards (Oasis) project, which provides standard norms and policies for countries also including Italy and the United States. By joining this international standard, Ecuadorian companies will eventually be able to exchange international bills online, Riera told BNamericas. This is being worked on in conjunction with the tax agency, SRI, he said. Eikon has already selected eight companies to participate in the pilot, and the five project development partners will each pick five or six companies, meaning a total of around 35-40 companies could participate, he said. The pilot is being financed by the individual companies, who are dedicating technology and employees' time, he said. The entire project falls within the scope of the electronic commerce law passed on December 31, 2002, and subsequent regulations, he said. There are some gaps in the regulation but for the most part all the necessary legislation is in place, he said. If successful, the electronic billing system would cut costs for companies and improve international trade. But Riera said it would also create a secondary market for bills, allowing companies to receive cash upfront from a third party trader instead of waiting the traditional 30, 60 or 90 days for payment. Traders usually pay around 93% of the face value of bills, he added.