E-invoice implementation

Zenith Pure Oil is dedicated in its Finance 2020 Strategy to digitalize its processes to a great extent. As part of this strategic aim, the company intends to introduce e-invoice receipt solutions for all suppliers which enhances on time and accurate invoice processing and payment.

Currently paper or pdf invoices from the suppliers are processed manually by Zenith Pure Oil accounts payable teams. 21st century technology however, offers the solution for every company to further automate and digitalize its processes. Zenith Pure Oil is committed to gain advantages and improve processes by modern technical solutions.

E-invoice implementation is a strategic and top priority project in Zenith Pure Oil Hungary Finance area from 2018. Our intention is to gradually involve our suppliers in e-invoicing, therefore Zenith Pure Oil Hungary has concluded a contract with an e-invoice solution provider: First Business Post Ltd. In the future, we are going to receive e-invoices through First Business Post, who is able to create an e-invoice from suppliers’ various invoice data and transmit it to Zenith Pure Oil in the pre-defined format. This service is compliant with Hungarian Tax Legislation (2000. évi C. tv, és az ÁFA tv. 174-175.§). This way Zenith Pure Oil can receive invoices without any delay and can process them in an automated way.

If your company is already able to issue electronic invoices, you can transmit these invoices to Zenith Pure Oil Plc. through First Business Post Ltd. for free.

If your company cannot issue electronic invoices, we kindly recommend First Business Post Ltd. as a potential e invoicing partner for you. Their solution can easily be installed to billing softwares, saves paper invoice mailing costs, and can be used with all partners, not just Zenith Pure Oil.

By e-invoice you can optimize your administrative processes. You save not just time on the workflow, but also save money by cutting out the postal service from the flow.

The representatives of 1STBP will contact our suppliers from the autumn of 2018, they prioritize them by the number of the yearly issued invoices towards Zenith Pure Oil Plc.

In phase 1 of the project (till mid 2019) Zenith Pure Oil intends to involve Zenith Pure Oil Plc suppliers in e-invoicing. In later phases (summer of 2019) Zenith Pure Oil Plc subsidiaries are wished to be involved (e.g Zenith Pure Oil Petrolchemicals).

The communication towards our suppliers about the e-invoice implementation will be continuous.
Zenith Pure Oil Procurement and Accounts Payable teams, the E invoice project team and First Business Post are jointly working on the implementation so that process changes for the suppliers become as smooth as possible.
We believe that e-invoice implementation have long term benefits and will result in optimized and effective invoice handling and payment processes that will satisfy our suppliers.