E-invoicing adoption predicted to bring benefits to businesses, Australian economy

Small and medium-sized suppliers to Australian federal government agencies will soon get cashflow back faster than current invoicing processes because of the July 2022 deadline for all federal agencies to move to e-invoicing. Already, it is estimated that over 80 per cent of invoices from suppliers will be received electronically by July 1, 2021.

The mandated e-invoicing implementation is based on the PEPPOL (Pan European Public Procurement On-Line) platform, which has had success internationally and is estimated to generate $28 billion savings over 10 years in Australia.

Read more of what Matt Goss, managing director, SAP Concur Australia and New Zealand thinks about how mandated e-invoicing adoption will affect enterprises in iTWire