Nfe expects more than 100% growth in e-tax filing adoption

- Wednesday, January 12, 2011

Nfe expects more than 100% growth in e-tax filing adoption

Financial software firm Nfe do Brasil expects the number of Brazilian businesses using e-tax reporting solutions to grow from 450,000 to 1mn within one to two years, commercial director Francisco Lobianco told BNamericas.

Nfe has installed this kind of solution for more than 3,000 enterprises of all sizes, and grew its revenues 100% from 2009 to 2010, Lobianco said. He did not provide hard figures, but said he expects the firm to continue on a similar trajectory. This month, Nfe agreed to a partnership with the Progerecs benefits program of the Trade and Business Associations of Brazil (CACB), which Lobianco expects to give Nfe access to 2.5mn potential clients across the country.

"The CACB reaches business owners through 27 aligned federations, which comprise more than 2,300 commercial associations," he said, adding that the CACB's blessing gives his firm increased credibility. "These associations probably aren't as important in the big business centers like Sao Paulo. But think about the small-business owner in remote areas, such as Amazonas or Mato Grosso. They need the help of associations to carry out basic processes."

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Nfe's solutions allow business owners who have at least one computer with a broadband connection, or even access to a community internet center [known locally as LAN House], to submit receipts for verification, transmission and secured archiving in Nfe's datacenter, Lobianco said.

Changes to the Treasury's tax reporting regulations created an opportunity for Nfe to offer electronic solutions to goods providers, which have different requirements from service providers, the executive said. Nfe distinguishes itself from competitors because it focuses exclusively on e-tariff payment systems, Lobianco noted.

Nfe's client base covers all kinds of firms, from cement factories filing 150,000 sales stubs per month to farmers with five to 10 proofs of purchase. The company's cloud computing and software as a service (SaaS) solutions are particularly popular with smaller-sized customers, Lobianco said.

Nfe also offers support and training services for its solutions.