Axway Acquires AdValvas to Expand B2B eInvoicing Compliance Capabilities

Axway has added new eInvoicing compliance capabilities to its B2B integration software by acquiring AdValvas.

The new capabilities include embedded support for Pan-European Public Procurement On-Line (PEPPOL), value-added tax (VAT) reform in France, and other worldwide B2B and business-to-government (B2G) eInvoicing mandates, the companies said in a Wednesday (April 19) press release.

“AdValvas has been at the forefront of Peppol and eInvoicing for the past decade, helping steer the direction of invoice compliance around the globe,” Axway CEO Patrick Donovan said in the release. “We are thrilled to welcome AdValvas and look forward to leveraging their deep expertise to help our customers navigate the delicate compliance waters ahead.”

B2B eInvoicing has become an operational imperative because of new regulatory requirements for B2B invoicing in France taking effect in 2024, more countries moving to Continuous Transaction Control (CTC) and B2G eInvoicing already mandatory for all public procurements in the European Union, according to the release.

With the acquisition, AdValvas will operate as a subsidiary of Axway, and AdValvas’ products and services will be integrated into the Axway B2B Integration Platform, the release said.

“Axway’s acquisition of our company marks a significant milestone in our growth journey,” Michel Gilis, formerly CEO of AdValvas and now vice president of eInvoicing of Axway, said in the release. “We remain committed to delivering high-quality products and services to our valued customers, employees and stakeholders, and we will stay focused and contribute to the standards and best practices on a global scale.”

eInvoicing is, or is in the process of being, mandated across hundreds of countries worldwide, Steve Pinado, who was at the time president of Billtrust, told PYMNTS’ Karen Webster in an interview posted in October.

What’s lacking is consistency. Depending on where you look, different governments have different standards as they regulate taxes and customs, and as they seek to set up electronic, auditable document trails, Pinado said at the time.

If companies run afoul of those standards, the invoices — which must be reviewed and approved by authorities before they get passed along to client firms — can get held up, Pinado said.

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