The company recently announced it generated 112 percent growth in 2014 compared to the year before. Invoiceware International also noted that 2014 marked the third straight year of record revenues.

The company gained 64 new customer contracts in 2014, joining the more than 80,000 companies operating on its business network. In 2014 alone, more than $84 billion dollars changed hands using Invoiceware International software.

In a press release, the company says part of its growth is due to expanded regulations throughout Latin America regarding electronic invoicing as well as increased supply chain efficiencies amplified adoptions by American multinational corporations. Among them are W.R. Grace & Co., Dawn Food Products, Inc., Novus International, Philips and Continental Tire.

Changes in electronic invoicing and fiscal reporting requirements throughout Latin America led the company to adopt new product offerings last year. New legislated changes in the Latin American landscape include:

• Mexico will require electronic accounting filings in 2015

• In Brazil, taxpayers subject to the actual taxable income regime will now be required to maintain ECF and submit accounting records electronically through a specific application in the Brazilian Digital Bookkeeping System. Companies must submit the first set of required reports covering 2014 by July 2015

• Ecuador mandated electronic invoicing in 2014 when it joined LATAM, the Latin American Community.

• Uruguay is taking great strides in becoming a leader in Latin American e-invoicing

According to Edicom.com, Latin America’s aggressive embrace of electronic payment systems serve as an example to other world markets as they attempt to adopt to this expanding method of business transactions.

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Tami Kamin Meyer is an Ohio attorney and writer. She may be reached at This email address is being protected from spambots. You need JavaScript enabled to view it. or @girlwithapen on Twitter.