Peppol eInvoicing in Australia & New Zealand | ACMO

How does switching to eInvoicing on the Peppol network transform your organisation and help you go paperless and get paid faster?
What is an eInvoice?
eInvoicing is an accurate computer-to-computer data language, it’s not up for interpretation by people or machines. It’s as fast as an email and it means you don’t need to send a series of emails or pdf documents to follow up on the invoice status or get paid.
Why Peppol eInvoicing is important now?
The Australian government will mandate electronic invoicing for all Commonwealth government agencies by the 1st of July 2022 and promises to pay suppliers who use eInvoicing within five business days.
The Australia Taxation Office estimates that the current cost of processing invoices is $27/invoice and eInvoicing will take it down to $10/invoice.
Australia's adoption of the PEPPOL network in 2019 enabled all private companies and public administrations to bill through PEPPOL. Pan European Public Procurement On-Line (PEPPOL) is the global standard and network being embraced by the government of Australia and New Zealand to electronically exchange invoices and other procurement documents.
Connect Once, Connect All
eInvoicing delivers efficiencies, enhances compliances, lowers costs, and improves business relationships. The benefits for the Australian government and businesses to use Peppol to conduct eInvoicing include:
Reduce processing costs - E- Invoices arrive directly into your Accounts Payable / Finance system eliminating costly capture processes and time-consuming data entry.
Accelerated payments - Fastest way of sending invoices straight to financial systems for payment.
Improved network security - End to end surety of the Peppol network eliminates the risk of invoices being intercepted by bad actors during communication.
Reduces cases of invoice fraud - The identity of all trading partners is verified which essentially eliminates 3rd party impersonation fraud.
Fewer manual processing errors - What a sender receives is exactly what the sender entered into their finance system.
Assured reliability and security - The accredited Access Points ensure the formats and standards are consistent while also acting as gatekeepers to the network.
Enhanced cash flow - Better record keeping due to more outstanding timeliness and accuracy of budget and financial reporting.
Better record-keeping - Faster processing times and improved accuracy lead to faster payment times.
Simplify your accounts payable processes by replacing manual work with the automatic import of payment statements.
Partnered with ATO’s approved access point service provider Storecove we help businesses get set up with AP automation and receive eInvoices into their solution. Schedule a call today to learn more.
www.acmo.com.au/solutions/pep...