Last Tuesday, March 31st, the financial radiophonic program ‘Argentarium’ interviewed Gina Lovatón, the Vicepresident at Voxel Caribe, next to Germania Montás, the former member of the DGII (Dirección General de Impuestos Internos, the local tax authority), about B2B payments and electronic invoicing during the sanitary emergency of COVID-19 in the country. 

In the Dominican Republic, the government has declared the emergency state until April 13th and due to the strict security measures and social distancing, many companies find it hard to pay to their providers, as the check is still widely used. 

The transactions platform baVel 

In front of this situation, Gina Lovatón explained during the interview that the implementation of an electronic invoicing system, such as the baVel platform, helps companies to keep managing and cashing the invoices, as well as optimizing the administrative processes and complying with the current legislation system of the DGII

The baVel platform allows the exchange of transactional information between clients and providers. During the interview, Lovatón outlined that this solution is not only addressed to high volum providers, but also small and medium companies that want to cut administrative expenses, obtain a greater visibility and traceability of the transactions and reduce the average collection period. 

Secure electronic payments

This last aspect is one of the most important during this excepcional situation, be able to receive and issue payments to the providers. For this reason, Lovatón highlited the importance of an efficient treasury and how baVelPay, the online payment platform in association with Visa International, can help companies receive and make payments to their providers in a secure and electronic way. 

You can listen to the full interview here: