Chargebee Launches Industry’s First E-Invoicing Service with Spring 2022 Product Release, Also Featuring Increased Automation Capabilities

Spring update to support tax, revenue recognition and regional compliance mandates to help customers expand globally

San Francisco, CA, March 16, 2022 (GLOBE NEWSWIRE) — Fresh off its recent round of funding, Chargebee, the leading subscription management platform, today announced the industry’s first e-invoicing service for high-performing SaaS and subscription-model businesses as the centerpiece of its Spring 2022 Product Release. The release includes updates geared towards enabling growth and efficiency for Chargebee customers, including taxation and revenue recognition features and a new Marketplace to automate billing workflows through a library of customizable integrations.

E-Invoicing

Countries across the world, including Brazil, France, Finland, Germany and India, are already mandating e-invoicing for Business to Government (B2G) transactions as a way of modernizing and simplifying tax reporting and payment and several countries, including Poland and France, will join Italy, Mexico and Chile in mandating e-invoicing for B2B transactions as early as 2023. Chargebee’s e-invoicing service will allow businesses seeking to expand operations globally to easily comply with local e-invoicing mandates and serve B2G and B2B customers in new regions.

“Chargebee has solved a huge problem for us,” said Gabriele Proni, co-founder and CTO of Voxloud, an Italian-based communications company. “Italy has some of the strictest e-invoicing mandates in the entire world, and without Chargebee’s e-invoicing service, we would have had to spend countless hours sending them out manually. Chargebee came in and helped automate the process, saving our team from spending unnecessary time and power and allowed us to focus on doing what we do best.”

Marketplace 

Automation is key to ensuring that modern billing systems are able to remain flexible and adaptable for businesses to succeed, especially for SaaS and subscription models, and is taking on a large role in Chargebee’s 2022 Spring Product Release.

Chargebee’s Marketplace enables businesses to build their billing systems on top of Chargebee, allowing for more and better integrations by connecting merchants with a wide catalog of available integrations to choose from. Marketplace improves integrations with other apps end-to-end, from discovery to sign-up, automating billing workflows and use cases.

Taxation and Revenue Recognition 

In addition to e-invoicing and Marketplace, Chargebee adds taxation and revenue recognition capabilities to handle real-time changes based on customer demands. Through automation, Chargebee is providing subscription businesses with a new way to sync billing information and improve an organization’s financial efficiency and enabling them to meet the growing list of compliance requirements, including Value-Added Tax (“VAT” in Europe) and Tax Deduction at Source (“TDS” in India).

Compliance

As Chargebee continues to support expansion into new and different geographies, customers need not worry about the growing list of regional and local compliances they will face. Chargebee is now certified as HIPAA compliant with the “Privacy Rule”, “Security Rule” and “Breach Notification” as per the HIPAA Portability and Accountability Act to support customers in the healthcare industry. In addition, Chargebee is also compliant with PCI and GDPR standards and adheres to ISO, SOC1, SOC2 and MFA standards.

Global Growth 

“Global and product expansion is a big part of Chargebee’s 2022-and-beyond roadmap, and we know that our customers are always looking to scale up, increase capabilities and enter new territories,” said John Pearce, Vice President of Product Management at Chargebee.  “There are tons of constantly changing rules and regulations that could inhibit growth, and our new offerings are designed to help our customers offload these concerns and focus on building and maintaining business.”

The Chargebee Spring 2022 Product Release full list of features includes:

  • E-invoicing for India and the European Union
  • Tax Withholding (TDS)
  • Subscriptions Marketplace
  • New Salesforce Integration UX
  • GST Breakdown (Australia)
  • Revenue Recognition through acquisition of RevLock
  • Retention through acquisition of Brightback
  • Receivables through acquisition of numberz
  • HIPAA Compliance
  • SOC-2 Compliance

These latest product enhancements come on the heels of a $250 million funding round that valued the company at $3.5 billion and was geared towards Chargebee’s global expansion. Recent acquisitions of Brightback (customer retention), RevLock (revenue recognition) and numberz (receivables) will also strengthen Chargebee’s offerings to enable end-to-end management of subscriptions and revenue data.

To learn more about Chargebee’s Spring 2022 Product Release, please visit https://www.chargebee.com/blog/spring-release-2022.

Penny Desatnik
Chargebee
penny@chargebee.com

Shufti Pro Announces $20 Million Series A Funding to Accelerate Growth

Globally acclaimed IDV solution provider, Shufti Pro, announced that it has raised $20 million in Series A Funding led by Updata Partners to accelerate global expansion and enhance product development.

LONDON, March 16, 2022 /PRNewswire/ — A global market leader in AI-powered IDV solutions, Shufti Pro, has announced that it has raised $20 million in Series A funding led by Updata Partners, a tech-focused growth equity firm.

The investment will be used to accelerate Shufti Pro’s global expansion providing additional resources to push their completely automated solution to new markets to help solve organisation’s unsatisfactory IDV process, enhance its IDV solutions and extend the company’s compliance suite.

Shufti Pro’s mantra is to provide a seamless digital customer experience when it comes to KYC, and as such the organisation provides a diverse range of solutions with identity verification at its core. With the World changing and digital transformation accelerating, digital identity services have become the cornerstone of any organisation looking to verify the identity of customers.

As businesses continue to undergo digital transformation, relying on trusted IDV partners has become more important than ever. As stated by Victor Fredung, the CEO of Shufti Pro, Our configurable and fully automated platform allows customers to incorporate a frictionless verification process specific to their business objectives and provides the flexibility to address data privacy and security requirements, including the ability to deploy an on-premise solution. We strive to provide the global coverage demanded by borderless organisations.

There is a global need for a flexible and compliant solution for onboarding, background checks and management that operates across borders without the prejudice of regions, business types and languages. The World is calling for a broader solution to its digital crisis and Shufti Pro answers these questions with unique capabilities:

Automation – the most advanced fully automated solution.

Global coverage on various reading capabilities in all major languages including Arabic.

Configurable and highly customisable while specialising in unique requirements. Our solution can be installed on-premise which is a highly unique advantage in the market. We comply with even the most stringent regulatory requirements such as VideoKYC in Germany or data retention in UAE.

The company is already serving 500+ clients globally as per Founder and CTO of Shufti Pro, Shahid Hanif. He further said,The funding round was about finding a strategic partner that has the relevant experience and knowledge, which we truly believe we have found. We can now develop more exciting products and solve onboarding and compliance issues faced all over the World.”

For more than 20 years, Updata, a firm that believes in creating exceptional outcomes for customers, employees, and shareholders, has supported entrepreneurs in B2B software that have a growth mindset and acknowledge capital efficiency.

“We were impressed by the technology and commercial progress achieved by a bootstrapped business. Shufti Pro is poised to build on this strong foundation and accelerate growth.” – said Braden Snyder, Partner at Updata Partners.

About Shufti Pro

Shufti Pro is an identity verification service provider offering KYC, KYB, and AML services to help global businesses onboard and manage risk of legitimate customers. The UK-based company has 5 regional offices and launched 17 different IDV products since its inception in 2017. With the ability to verify ID documents globally in 150+ languages, Shufti Pro is serving customers in 230+ countries and territories.

For more information,
Graeme Rowe
Chief Marketing Officer | Shufti Pro
Graeme.r@shuftipro.com
+44 1225290329

Photo – https://mma.prnewswire.com/media/1766856/Series_A_funding__1.jpg

Trapped Nigerian Students Plead for Evacuation From Ukraine’s Kherson

Nigeria has evacuated at least 1,800 of its citizens from Ukraine since Russia’s invasion, but says that 80 Nigerian students remain trapped in the southern city of Kherson. Russian forces have captured the city, and the students this week called on the Nigerian government to come to their aid.

It was another cold night in underground bomb shelters for Nigerian students in Kherson. The students have been trapped for about two weeks since Russian forces seized the city on March 3.

The students say gas and internet services have been cut off and that they’re running out of food.

Akinyemi Victor, who graduated from the Kherson state maritime academy, spoke about the students’ situation on Twitter.

“When there’s no gas, there’s no heating system. We heat now with firewood and we cook there too. Some of us who have tried to go out of the city, Russian armies are sending them back home. No supply is coming into the city, (there’s) nothing going out, nothing coming in,” Victor said.

Kherson, a port city in southern Ukraine, was one of the first areas to fall to Russian forces. An estimated 150 Africans are believed to be trapped in the city, according to online groups calling for their evacuation.

This week, the Nigerian students called on their country to come to their aid.

Nigerian Foreign Minister Geoffrey Onyeama responded and said authorities are working with Nigeria’s ambassadors in Ukraine and Russia to assist the students.

Yusuf Buba, chairman of a foreign affairs committee set up by lawmakers to facilitate evacuation operations, says efforts are underway.

“Our only area of concern now is for those students that are still in Ukraine and we will put our heads together with the (foreign affairs) ministry to see how the remaining students will come out to safety,” Buba said.

Online groups have been promoting the hashtag #EvacuateKherson to raise awareness about the African students trapped there.

Some recently evacuated students are also trying to help get their colleagues out.

Samuel Otunla was rescued last week from the northeastern city of Sumy and has been creating awareness about the students in Kherson from his new shelter in Hungary.

“All of these embassies need to be aware of the situation so they can keep pushing, keep communicating with the humanitarian aid, the Ukrainian government, possibly the Russian government and military as well to make sure that these people are evacuated. It’s not a good experience at all,” Otunla said.

Ukrainian authorities have accused Moscow of trying to create a republic out of the captured city and its surrounding areas.

Source: Voice of America

UN adopts resolution promoting bicycles to combat climate change

UNITED NATIONS— The 193 members of the United Nations General Assembly adopted a resolution Tuesday supporting bicycles as a tool for combatting climate change.

The resolution, proposed by Turkmenistan, was passed unanimously and like all General Assembly resolutions is non-binding.

It calls on member states to “integrate the bicycle into public transportation, in urban and rural settings in developing and developed countries.”

Increasing cycling through improved road safety and the promotion of bike-riding will help achieve “sustainable development, including the reduction of greenhouse gas emissions,” according to the resolution.

More specifically, the resolution encourages member states to “give special attention to cycling in cross-cutting development strategies, including bicycle sharing services,” as well as when possible in “international, regional, national and subnational development policies and programmes.”

Source: NAM NEWS NETWORK

UN: Dueling Governments in Libya Could Lead to More Instability

A senior U.N. official warned Wednesday that the current political standoff in Libya could lead to instability and two parallel governments in the country.

“As long as the standoff over executive legitimacy continues, Libya could again see two parallel administrations,” U.N. political chief Rosemary DiCarlo told the U.N. Security Council. “This could lead to instability and possibly unrest and deal a severe blow to the prospect of elections.”

Libya’s latest political crisis began with the postponement of December 24 presidential and parliamentary elections over disputes about election laws and who could be a presidential candidate. Nearly 3 million Libyans had registered to take part in the vote.

Following the postponement, the House of Representatives adopted a constitutional amendment calling for the appointment by February 24 of a constitutional review committee representing the country’s three regions. The committee still has not been formed.

On March 1, legislators in the House of Representatives voted to confirm a new transitional government, with Fathi Bashagha, a former interior minister, as prime minister. His Cabinet was sworn in two days later.

“The U.N. received reports that the vote was marred by procedural flaws and threats of violence against some members of the chamber and their families,” DiCarlo said. “These shortcomings impacted the credibility of the process.”

DiCarlo said the situation on the ground has remained relatively calm, but there has been an increase in threatening rhetoric and political tensions. Local flights between the capital and eastern Libya are suspended, and some forces in the country’s west have moved toward Tripoli.

“The Government of National Unity leadership has rejected the legitimacy of the vote, stating that they will only transfer power to an elected government,” DiCarlo said of the government headed by incumbent Prime Minister Abdul Hamid Dbeibah. “Mr. Bashagha, meanwhile, insists he is heading the legitimate government.”

U.N. special adviser Stephanie Williams has been talking to stakeholders and trying to find a consensus on the legal and constitutional framework to hold elections as soon as possible. She has also offered to mediate between the rival prime ministers.

Risks of polarization

“The United Nations continues to urge both parties to engage in a constructive dialogue to resolve the political impasse and to refrain from unilateral actions that could result in further divisions,” DiCarlo said.

She said this new phase of political polarization risks dividing national institutions and reversing gains made over the past two years.

“We know from experience what unilateral actions, divided government and an unending transition may hold in store for Libya,” she cautioned. “We remain convinced that credible, transparent and inclusive elections based on a sound constitutional and legal framework are the only solution to the current stalemate.”

Libya’s U.N. envoy agreed the country is at a complex and precarious moment.

“Here we are today going through a very critical phase,” Ambassador Taher El-Sonni said. “We are on a dangerous crossroads with the specter of political and institutional division haunting us again.”

El-Sonni said the focus must be on de-escalation and holding elections as soon as possible. He urged the U.N. to send election support.

El-Sonni said all Libyan stakeholders have pledged not to resort to violence to resolve the current political crisis.

“It is high time to end the cycle of conflict that lasted since 2011,” he said. “It is high time to overcome the painful differences of the past and start together a genuine national compact that will unite us, not divide us, that would make us stronger, not weaker.”

Instability, fighting and foreign interference have proliferated in Libya since the ouster and killing of longtime dictator Moammar Gadhafi in 2011.

Source: Voice of America