Evidences promoting the electronic invoice as a security

August 17, 2021

On August 11, 2021, it was published in the web page of “La República” about Radian’s tests as an incentive for electronic invoicing as a security.

1. Radian tests and electronic invoicing

According to the director of the DIAN (Dirección de Impuestos y Aduanas Nacionales – National Tax and Customs Directorate), Lisandro Junco, the tool will allow companies to access new forms of financing and liquidity through digital factoring.

On August 1, the DIAN began testing the implementation of Radian, a new tool that will allow the use of the electronic invoice as security.

2. Access to financing for MSMEs

Through the electronic invoice as security, access to financing will be improved for many companies, especially for MSMEs, which have the greatest difficulties in accessing credit.

3. Facility

Radian will enable companies to negotiate outstanding invoices before they are due, accessing a new, fast, and simple financing channel that will help them improve their liquidity and growth capacity.

4. The issue displayed by the DIAN

In Resolution 000063, the DIAN defined those aspects related to the equivalent document, the electronic payroll support document, and the registration of electronic invoices as a Radian security. This security allows keeping updated the information of the transactions carried out.

In addition, to improve financing options for companies, with the implementation of Radian, the use of electronic invoicing would also become widespread.

Source: La República 13/08/21