The software for electronic invoicing of the italian company Ultroneo Srl represents a real innovation at European level
A success that shows no signs of stopping. From an idea generated within a spin-off of an italian University, the fintech company Ultroneo, creator of the GetYourBill system for immediate electronic invoicing, enters this year’s top 10 of the best European solutions for retail automation of the well-known magazine Retail Tech Insights. It even made it onto the cover of the March issue.
An important recognition for a company that in 2021 reached a customer base of 14.000 retailers and a turnover of nearly 2 million euros, doubling it in comparison to the period before the pandemic.
“We are very satisfied with this important recognition – says Nicolas Ancot, one of the Founders and Board Directors – in just five years we have gone from start-up to point of reference for the entire sector. Our business started out as a great bet, now we have reached such knowledge that we can also aim at the foreign market “.
In fact, as Retail Tech Insights points out, Italy was the first country in the European Union that, in 2019, imposed electronic invoicing for all national transactions. A drastic but necessary step, not only to improve VAT collection but also to combat tax evasion and the black market. However, the change of course has created many difficulties for merchants and professionals, so much so as to give way to various solutions to simplify the procedure.
One of these is GetYourBill, an innovative system for issuing invoices and other sales documents quickly and without errors, from the point of sale, on the move or via e-commerce. The idea arises from the need to optimize the time of payment, avoiding not only long queues at the checkout, but also errors in data entry, which are automatically corrected by the system. The time savings are significant: it is estimated that the time for generating an invoice is reduced from 3 minutes to 30 seconds.
“As the analysis conducted by Retail Tech Insights points out – continues Nicolas Ancot – there are currently three types of solutions on the market: the first forces customers to upload and record all their data in an app, then scan the QR code or the receipt from the point of sale; in the second the retailer collects all the customer data, notes them and only subsequently generates the electronic invoice. Both are slow and error prone methods. And then there is GetYourBill, for which not only is no registration required, but the generation of the invoice is immediate. In addition, our automatic correction solution fixes 90% of the invoices discarded by the Tax Authority. Simple, efficient, fast. Not just advantages for those who issue invoices, but also for those who receive them”.
An all-Italian primacy, which now looks abroad: “we want to bring our know-how to all countries that are moving towards mandatory electronic invoicing, considering that our innovation is unique in the world“, concludes Nicolas Ancot.