Electronic Signatures Ensure Online e-Invoicing Compliance with Israeli Tax Laws

Oct 04, 2006Petach Tikva, Israel

Invoice4U, an online invoice solutions provider, has launched CoSign, Algorithmic Research’s (ARX) electronic signature appliance, to electronically sign invoices.
CoSign for Web Applications is a standards-based electronic signature solution that enables the signing and sealing of web transactions such as online invoices, replacing the printing, signing, mailing and physical archiving of paper invoices.

“We produce e-Invoices for our customers, who fill in the invoice information on our site,” says Yoram Shifer, Managing Director, Invoice4U. “With the Israel Tax Authority’s decision to recognize a digitally-signed invoice as an equivalent to a paper-based invoice we had to add a digital signature solution to our application to ensure compliancy with the tax laws. CoSign’s ability to sign PDF documents, and easy integration with our Web application, was exactly what we were looking for.”

CoSign’s simple key management allows Invoice4U registered members to easily acquire their own Signing (Private) Key and graphical signatures that are used to sign the document online. This technology allows individual users to apply their signature to each invoice they issue. The web form is converted into a PDF format, signed and then sent to the user for download.
As CoSign applies a standard signature to the PDF documents, the invoices may be viewed and verified by any Adobe Acrobat Reader without installing any verification software because the freely available Adobe Reader has the verification functionality built in.

“The solution is fully compliant with the Israeli Taxation Law,” says Ari Seror, director of professional services at ARX. “Signing & sealing electronic documents with CoSign guarantees signer authenticity, data integrity and the non-repudiation of all electronic invoices issued by Invoice4U”.

About Invoice4U

Invoice4U is an e-billing solution developed in Microsoft .NET environment to cater the growing demand for online business tools. This Internet-based solution has minimum startup costs for the end-user, requiring only a low-end computer, Internet access, and a Web browser. Encryption and authentication techniques have been incorporated to ensure secure transmission of confidential and sensitive invoice information over the Internet. Invoice4U.com will allow you to create invoices & receipts while maintaining the following: The Invoice4U system is powered by Direct Accounting management LTD, as well as by FUTUREALITY.com – Web Developers & IT Consultants. www.invoice4u.com.

About CoSign Digital Signatures

ARX (Algorithmic Research) is a global provider of cost-efficient digital signature solutions for industries such as AEC, life sciences, healthcare, government, energy, and manufacturing. ARX CoSign is the market leading digital signature solution. CoSign digital signatures fully automate signature-dependent processes affordably and compliantly, allowing organizations to go paperless and save time and money. Compatible with major document types including Word, Excel, PDF, PDF/A, and IBM Forms, CoSign signatures are globally verifiable without requiring proprietary validation software. CoSign is also centrally managed by your organization for reliable control over signature privileges. Learn more about the CoSign digital signature solution.

About ARX – The Digital Signature Company

ARX (Algorithmic Research) is a global provider of cost-efficient digital signature solutions for industries such as life sciences, healthcare, government, engineering, and energy. ARX engineers and scientists have more than 20 years of experience in security and digital signature applications based on international standards. ARX helps businesses secure, streamline, and scale their processes and transactions with the proper controls required by legislation, regulation, and industry best practices. Learn more about us.

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CoSign is a registered trademark of Algorithmic Research, Ltd. All other trade names and trademarks are the property of their respective holders.

Press Contact:
Ashley Miller
ARX
(415) 839 8161
Ashley@arx.com