Whether you are a private business or a public organisation, e‑invoicing is your gateway to fast, secure, and borderless trade. The Australian Taxation Office is mandating federal government agencies to have e‑invoicing in place by July 2022, while other government agencies and private enterprises across Australia and New Zealand are strongly encouraged to adopt electronic invoicing to return cashflow faster. With more businesses committing to e‑invoicing, it’s important that your organisation is ready.
E-invoicing is the automated digital exchange of invoice information directly between a buyer's and supplier's accounting systems. It is a secure process that uses a digital platform to streamline workflows, reduce the risk of fraud, and provide the ability for faster, more accurate expense reporting and analysis. E-invoicing returns cashflow to suppliers faster. Learn more with answers to the most frequently asked questions on PEPPOL and e-invoicing.
E‑invoicing has many benefits that come from simplifying and automating the exchange and processing of invoices. The ATO estimates it costs businesses around $30 to process a paper invoice and $27 for an emailed PDF invoice. In contrast, it costs less than $10 to process an e‑invoice. The e‑invoicing network provides a safer and more secure channel than email. E‑invoices are received directly into your business' financial systems through the e‑invoicing framework via approved and authenticated participants. The risk of fake, compromised or duplicate invoices is significantly lower. All you need to do is connect once with Peppol - to reach all the buyers and sellers within the network, now and in the future.
E-invoicing will help organisations across all industry sectors resolve issues around managing invoicing workflows, improving administrative efficiencies, maintaining data security, and achieving more accurate and timely financial insights. Read more about the benefits of e-invoicing for businesses on the Australian Taxation Office website.
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