On the 16th, it was announced that the electronic tax invoice simple issuance and management fintech service Volta and the financial outsourcing specialized fintech company Burnyrate will pursue strategic cooperation to enhance the efficiency of corporate payment settlement tasks. Through this collaboration, the two companies plan to provide services that effectively improve the complex and inefficient payment settlement process, allowing corporations to focus on their core business.
Burnyrate is a fintech startup that provides financial outsourcing services for corporations, covering accounting processing, financial reporting, budget management, and more. Clients can secure financial expertise at a low expense and maximize the efficiency of financial management.
The fintech service Volta, which offers simple issuance and management of electronic tax invoices, has recently completed and launched essential financial services for the settlement process, such as the reverse issuance of tax invoices and confirmation of transfer status. Volta plans to assist in enhancing settlement efficiency by providing additional services, including tax invoice reverse issuance, to Burnyrate's corporate clients alongside its existing simple tax invoice issuance and management services.
Reverse issuance of tax invoices is a simple service whereby the recipient of the service creates an electronic tax invoice and sends it to the service provider, who then approves the issuance of the tax invoice after applying an electronic signature. This method is primarily used for issuing tax invoices appropriately for settlement amounts on platforms and other services.
Yang Won-seok, the CEO of Burnyrate, noted, "Resolving the complexity of the settlement process and establishing a more systematic and accurate process is the core objective of this collaboration," adding, "Through this, corporations will be able to secure expertise in settlement management and maximize operational efficiency."