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. [...]