The efforts that have been developed throughout the country in the implementation and familiarization of companies with the new rule of electronic invoicing are well known. Hand in hand with these efforts, there is also a wide range of efforts associated with the establishment of a system that allows the registration of electronic invoices, which in turn facilitates their negotiation through transactions such as factoring o confirmingwhich in Colombia will represent approximately 34 trillion pesos by 2019.
RADIAN Challenges
By 2018, and with certainty of implementation in 2019, the Ministry of Commerce, Industry and Tourism had already made the first efforts through REFEL (Registry of Electronic Invoices) where it sought, among other things, having an entity capable of facilitating electronic invoicing operationsIn addition, it is important to avoid generating multiple businesses with the same invoice and, above all, to help the large group of companies in the country that find in invoice financing an immediate and effective way to alleviate their cash flow.
The next in the line of efforts was the DIAN (Dirección de Impuestos y Aduanas Nacionales), which already with the assigned task of achieving the challenge of electronic invoicing in the 100% of national companies, put itself in the front line of work to achieve what it wanted to gestate through the REFEL. This time the challenge is being perfected through RADIAN (Registry Administered by the DIAN), a system that had its first public opening on November 25 and which seeks, in the words of the director of the DIAN, to "radiate economic reactivation and fairness in the allocation of resources to those who need it most".
RADIAN, understood as a platform that will allow the registration, circulation, consultation and monitoring of electronic invoices (already legally recognized as a security) opens up a wide range of options for all players involved in the negotiation of invoices, this time under a totally technological scenario: Companies, Factors, trading platforms, electronic billers, among others, are already in the process of organizing what is necessary to be able to interact in the new system.
General guidelines
In order to be aligned with what this new model represents, it is important to take into account the following factors:
- Associated regulations: If one wants to understand in detail the basis defining the RADIAN guidelines the regulatory framework involved is: Law 2010 of 2019, Decree 358 of 2020, Resolution 000042 of 2020, Decree 1154 of 2020. and Draft Resolution.
- Key points to interact with the platform: a) To develop and adapt the technological systems that allow the technological connection and relationship, b) To have ISO 27001 Certification and c) To have the appropriate SARLAFT.
- Main role of the RADIAN systemThe new platform will seek to govern 4 main points: 1) Invoice registration, being the maximum "watchdog" of the documents that pass through its system, 2) Consultation, 3) Circulation and 4) Traceability, step-by-step control of what happens with the invoice within RADIAN.
- Understand the events that can occur in RADIAN: 1) Registration for circulation of invoices, 2) Endorsement, 3) Guarantee, 4) Mandate, 5) Limitation, 6) Payment, 7) Protest and 8) Expiration.
The closing of the year 2020 will be framed with explanations from the DIAN on the next steps to be taken with respect to this tool, which is expected to go live at the beginning of 2021. With this new system, the DIAN is not only betting to have a greater and better control of electronic invoicesThe rules are on the table, and it is up to all those involved to get up to the required level in order to contribute to the economic reactivation that the country so badly needs from the perspective of invoice discounting. The rules are on the table, and it is up to all those who participate to reach the required level in order to contribute to the economic reactivation that the country needs so much from the perspective of invoice discounting.
