Sign in Subscribe
Software industry

Magic Software Establishes New Market Segment with NF-e Compliance Solutions

Strategic Insights

— 1 min read

Magic Software, a global provider of cloud and on-premise solutions, has successfully established a new market segment and revenue stream serving the needs of global companies seeking compliance with the Brazilian government's Nota Fiscal Eletronica (NF-e) regulations. This initiative is a response to the growing need for businesses to adapt to emerging government regulations worldwide, as exemplified by Sony DADC's experience with NF-e requirements. According to the Brazilian Ministry of Finance, over 1.8 billion NF-e have been issued, covering goods worth more than $39 trillion.

Key Takeaways:

  • Magic Software has established a new market segment and revenue stream serving global companies requiring NF-e compliance.
  • Sony DADC, a major client, acquired iBOLT to handle NF-e requirements and expanded its use in other areas.
  • The challenge of adjusting IT systems to meet different government regulations highlights the need for an integration platform like iBOLT.
  • Brazil's economy is the world's eighth largest, with over 1.8 billion NF-e issued, covering goods worth more than $39 trillion.
  • More than 400,000 companies worldwide are expected to comply with Brazilian NF-e regulations.
  • Magic Software's solution provides a mechanism for issuing NF-e and managing DANFE requests and receipts, connecting to existing ERP systems.
  • Customers like Conquest Soft Drinks and Sony DADC have successfully implemented Magic Software's NF-e compliance solutions.
  • Over 100 customers worldwide have adopted Magic Software's NF-e compliance solutions based on uniPaaS and iBOLT technology.

Statistics:

  • Over 1.8 billion NF-e have been issued in Brazil, covering goods worth more than $39 trillion (Brazilian Ministry of Finance).
  • More than 400,000 companies worldwide are expected to comply with Brazilian NF-e regulations (Brazilian Ministry of Finance).
  • Magic Software has successfully provided NRF-e solutions to over 100 customers worldwide (Company statement).
  • Clients like Sony DADC and Conquest Soft Drinks have benefited from Magic Software's NF-e compliance solutions (Client testimonials).

Sources:

  • PR Newswire, "Magic Software Establishes New Market Segment and Revenue Stream with NF-e Compliance Solutions" (January 13, 2011).
  • Magic Software, "Magic Software Establishes New Market Segment and Revenue Stream with NF-e Compliance Solutions" (Company statement).
  • Brazilian Ministry of Finance ( Portuguese: Ministério da Fazenda).
  • Sony DADC, "Sony DADC is a full-service technology and solution provider for optical media" (About page).
  • Refrigerantes Conquest, "About" page.

Read more