The electronic invoicing in The Dominican Republic is getting stronger. As of last January, companies and private individuals can voluntarily adhere to the new electronic invoicing system of the DGII (the Dominican Republic Tax Authority), as the pilot started in February 2019 concluded with success. This way, companies can communicate and send legal tax receipts to the public authority electronically. 

The implementation of this electronic system is a big step for the country and matches the system of the majority of countries in South America where an electronic invoicing system is already in place. For example, Mexico is processing 10 trillion electronic invoices per year. 

So far, the DGII has received 700 thousand electronic tax receipts. The implementation of this electronic system contributes to the mitigation of the tax evasion, one of the main issues of the country and it is a big help for the administrative departments, especially those who manage hundreds of transactions per day, as it reduces the administrative, logistics and treasury expenses.  

However, the DGII has not set a date for this system to come into force for companies. 

baVel during the pilot 

The pilot for electronic billing involved 10 large companies of the Dominican Republic and lasted 11 months. From those, 4 companies trusted baVel as their technological partner: CCN (Centro Cuesta Nacional), Distribuidora Corripio, Cervecería Nacional Dominicana and Nestlé. 

baVel has developed the integration with the DGII and it assures the connectivity with the tax authority to those companies using the platform. At the moment, the CCN, one of the most important companies in the country, has an integral solution to send electronic invoices not only to the DGII but also to all their electronic clients complying with the legal requirements and using a digital signature to send and validate documents via the baVel platform. 

The baVel platform in the Dominican Republic

The digitization of the invoicing processes is key for the digital transformation of the back-office processes of the Dominican companies. Electronic invoicing mitigates the administrative expenses thanks to the automation of processes and digital reconciliation. Furthermore, it adds extra services such as invoice validation, reception notifications and a shorter average payment term.   

In this line of work, the baVel platform facilitates the exchange of transactional information between clients and providers, helping digitize the supply chain and automating the administrative processes. 

Furthermore, baVel closes the billing cycle offering online payment solutions via baVelPay by Visa, a solution developed next to Visa and made for large companies with high buying volume that need to quickly and efficiently issue payments to suppliers across the country.

At the moment, baVel has more than 6 years of experience in the Procurement sector and works with more than 300 Dominican companies.

We are proud to announce the Sponsors for the 6th Edition of the baVel Travel Summit: Barclaycard and Visa have joined Mastercard as Gold Sponsors of the event, and Kantox, eNett, Ingenico and Airplus will be part of the silver’s category. Once more, thanks to our partners, the Summit will be a unique and successful event of the travel sector.

As you would expect with such top companies from the payments transactions world as sponsors, this Summit’s edition will be focused on electronic B2B payments for the travel industry and how different players (hotel chains, tour operators, travel agencies…) tackle its evolution and regulation.

Conferences, Panels, Speed Networking and Payment Innovation Flashes

Among the new features added to this edition, the baVel Summit Travel will include Speed Networking Sessions where the attendees will be able to arrange one-to-one meetings and share business concerns or proposals in an agile way. Besides, there will be a ‘Payment Innovation Flashes’ session to present leading solutions in electronic payments.

Head of Travel & Mobility in Amazon Pay, Thomas Gmelch, will analyze how such a leading global company is handling payment methods to meet the needs of the connected travel consumer at the session “Rethinking Payments Convenience for the Connected Traveller”. This conference is scheduled for Thursday 24th of May at 11am.

In addition, on Wednesday 22nd, top professionals from Melia Hotels Group, Expedia Group  and others to confirme will debate on the benefits of payment technology from two opposite perspectives, the sales view and the financial one, at “Aligning Sales and Finance Goals around Streamlining Payments”.

The Summit will also dig into digital and organisational transformation, analyzing cases such as NH Hotels Group or Hotelbeds, and we will share briefly how at Voxel Group we have radically transformed the company’s structure towards an Agile and Sociocratic model.

This baVel Travel Summit edition expects to gather 180 to 200 leaders of the travel industry. The spots are quickly running out, so if you haven’t registered yet, don’t hesitate and book your spot in our website. 

See you the 22, 23 and 24 of May in Barcelona!

Visa, the global payment technology company, has announced an alliance with Voxel Group as part of a strategy to develop an ecosystem of B2B payments. A network to offer electronic transactions at a global scale. The alliance integrates payment capacity between Visa’s companies via Voxel’s platform.

baVelPay by Visa solution, developed by Voxel and Visa and integrated in baVel, simplifies payments between suppliers for large companies in Dominican Republic. This is Visa’s first solution for the Dominican market where, together with Voxel and Banco Popular Dominicano, offer baVelPay for electronic payments to suppliers.

“We innovate with our collaboration with multiple organisations that share our commitment to simplify the payment experience for large, medium or small sized companies, as well as financial institutions, retail, fintech and start-ups” explained Visa’s Vice President of Commercial Solutions in Latin America and the Caribbean, Diego Rodríguez. “This alliance with Voxel Group allow us to offer a payment solution in baVel’s platform to simplify electronic payments between companies and support them operating in an efficient way”.

Simplified supply chain

baVelPay by Visa is made for large companies with high buying volume that need to quickly and efficiently issue payments to suppliers across the country. This solution, directly connected to the ERPs systems, gives multiple benefits to the client and supplier, such as security and reliability to pay and receive payments through Visa network; a mitigation of the invoicing procedure costs; saving time to charge invoices which will contribute to a better cash flow; and the digitalisation of the whole supply chain, including the electronic catalogue, electronic orders, goods delivery, invoices and credit notes.

“Digitalisation of the supply chain is key to innovate for Dominican companies. There is a need to eliminate and automate chain processes that have no added value for the company in order to be able to compete in the new market”, pointed Voxel’s Vice President in Latin American and the Caribbean, Gina Lovatón who added “so far, baVel platform has helped companies to streamline their supply chain, but with baVelPay by Visa, we also provide them with payment options to close the digitalisation process. This adds new possibilities for clients and suppliers to not only streamline their procedures, but open up new possibilities to interact between them that were not possible until today”.

According to Card Section’s Vice President in Banco Popular Dominicano, Austria Gómez, this alliance will allow the bank to continue leading innovation processes in the Dominican financial system, creating new product solutions, services and channels to meet client needs and simplify their procedures to accomplish their challenges.

Via Visa’s platforms and APIs (Application Program Interface), the collaboration with Voxel Group contributes to migrate the cash flow to a digital one. This migration will provide a better advantage, security and ease to companies and individuals which will contribute to a faster growth and efficiency to the Economy.