Latin America Moves Towards Digitizing Payroll

Many countries in Latin America are paving the way to a new era of electronic payroll reporting with the development and implementation of tools for digital invoicing and processing.

It is expected that by the end of 2015 a total of 42 billion electronic invoices will be processed globally – 25 billion of these would be processed in Latin America according to Billentis' report "Entering a new era". The following are a few of the digital reforms taking place in the region:

• Mexico: Mexico, along with Brazil, is one of the most developed countries in terms of the usage of electronic processes at an international level. To be in compliance in this country, companies must provide its employees Electronic Payslips (CFDI). In order to do so, they are required to work with an Authorized Certification Vendor (PAC).