E-invoicing around the world

E-invoicing is just starting to build momentum in Australia and New Zealand. In 2019, Australia and New Zealand signed the Trans-Tasman e-invoicing agreement, making it easier for businesses and government to exchange e-invoices, both within and between those two countries. Since then, we’ve seen an increase in government agencies implementing e-invoicing. And the Australian Government [...]

E-invoicing and goods not for resale (GNFR): A recipe for success

Retailers are forever looking for ways to cut costs. Typically, it’s operations and supply chain that are targeted to improve efficiency and reduce costs. Retailers often adopt electronic data interchange (EDI) to automate the procure-to-pay process. But another, often overlooked area where processes can be optimised is also in procurement; it’s goods not for resale, [...]

OCR vs E-invoicing

Some of the challenges that finance teams, particularly accounts payable teams, can often face include: too many manual processes data entry errors high costs from labour, printing and archiving paying fraudulent or misleading invoices. Two of the most common approaches to overcoming these issues are optical character recognition (OCR) readers and e-invoicing. So what should [...]

The state of e-invoicing in AUS and NZ

E-invoicing has taken off in countries around the world. Here in Australia and New Zealand, e-invoicing is still in its infancy, but steadily gaining momentum. What is e-invoicing? E-invoicing enables organisations to send and receive invoices electronically, directly to and from their software. It removes the need for unnecessary data entry and inaccurate OCR scanning. [...]

Budget announcements and its impact on e-invoicing

The Australian government recently released its budget for 2020 and it’s clear that digital transformation is high on their agenda – it included $800 million to improve access to digital services. Some of the initiatives announced were: accelerating the creation of a single national business registry expanding the government’s Digital Identity Program accelerating the take-up [...]

Why government is so keen to implement e-invoicing?

Many organisations around the world are implementing e-invoicing, in particular government agencies. So why is government leading the charge? Here are a few reasons: It benefits the economy One of the key reasons government agencies are adopting e-invoicing is to stimulate the economy. It helps increase businesses’ cash flow because payment times are generally reduced. [...]

Why finance needs to become friends with technology

Finance teams constantly find themselves battling things like: a need to reduce costs greater workload with the same amount of staff manual processes, which often lead to errors and disparate sources of data, making it hard to find information when they need it. The good news is that technology can improve these issues. And that’s [...]

When is the right time to implement e-invoicing?

E-invoicing lets companies exchange invoices electronically, directly to and from their software. It removes the need for unnecessary data entry and inaccurate OCR scanning. Businesses are increasingly adopting e-invoicing to: reduce costs involved in processing invoices process invoices faster make faster payments reduce data entry errors move to a more secure way of exchanging invoices. [...]

What are my e-invoicing options?

E-invoicing is changing the way we send invoices and other documents to our partners. Simply put, e-invoicing enables organisations to send and receive invoices electronically, directly to and from their software. It removes the need for unnecessary data entry and inaccurate OCR scanning. E-invoicing happens through a four-corner model, where corners one and four are [...]

The benefits of e-invoicing for businesses: An infographic

E-invoicing automates the exchange of invoices directly between businesses’ software and its use is growing across the globe as a result of the benefits it brings. Australia and New Zealand have joined forces to to make trans-tasman e-invoicing easier using the internationally-adopted Peppol e-invoicing framework. Any business within this network can now send and receive [...]

Benefits of e-invoicing for software providers: An infographic

E-invoicing automates the sending and receiving of invoices directly between businesses' software. Countries in Europe and South America were among the first to mandate e-invoicing and others around the world are starting to follow after seeing the benefits. In Australia and New Zealand, more and more government agencies and their suppliers are connecting to the [...]