European Union designates UBL 2.1 as benchmark in public procurement

Monday 5 January 2015 09:38 CET | News

The European Union has taken a step further in Strategy 2020, designating Universal Business Language (UBL) version 2.1 as a reference for public tender, reports.

According to the source, in recent years, the EU has been on a drive to better exploit the potential of information and communication technology in order to promote innovation, economic growth and progress. In this regard, strengthening interoperability and common standards emerges as a major priority.

In May 2014, there was released a Directive on e-invoicing in public procurement, designed to establish a European standard to promote cross-border transactions. Now the Official Gazette has published an executive decision from the Commission identifying UBL version 2.1 as a reference in public procurement.

The decision came into force on November 21, 2014, and is the result of an agreement with the European Multi-Stakeholder Platform for ICT Standardization and experts in the sector. These bodies assessed the standards in accordance with the requirements set forth in Annex II of Regulation 1025/2012 and issued a positive rating.

UBL (Universal Business Language) 2.1 uses XML format and operates a policy framework that simplifies automation of document exchanges.

The executive decision of the European Union constitutes a boost for interoperability. Standardization is essential to ensure proper operation of digital initiatives and achieve maximum benefits.

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Keywords: European Union, public, procurement, UBL, 2.1, Universal Business Language, e-invoicing, cross-border, XML, automation
Categories: Banking & Fintech
Countries: World
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