eInvoicing is the direct exchange of invoice information between the business systems of buyers and suppliers. eInvoicing is not about sending PDFs through the email system. With eInvoicing, there will be a shift in the way suppliers interact with their vendor and Xcellerate IT solutions provide a holistic method to manage the on-boarding of both traditional (email with attachments and paper-based) and eInvoices in the one platform.
Over 1.2 billion invoices are exchanged annually in Australia
89% of small and medium businesses process invoices manually
Estimated processing costs (source ATO):
On average, Australian businesses are paid 9 days late. This can also impact their ability to pay on time.
Delays due to:
Australian small businesses are collectively owed $26 billion in unpaid invoices at any one time
EDI networks impose closed trading solutions on suppliers
Too many complex, proprietary standards
eInvoicing is more efficient, accurate and secure. The Australian Government is committed to delivering eInvoicing. With over 1.2 billion invoices exchanged in Australia annually, savings to the economy are estimated to be $28 billion over 10 years. Benefits of this initiative include:
A single vendor for managing all supplier invoices, both traditional and eInvoices
A holistic view of all invoice types within the same platform
A single, multi-channel onboarding ramp for different invoice formats such as email attachments and EDI
Integration with your ERP from Tungsten, providing a PDF representation of eInvoice and traditional invoice data
A PEPPOL certified Access Point for receiving eInvoices from your suppliers Access Point provider
Have your system configured to send eInvoices (outbound) from your finance solution using the same Access Point provider via Xcellerate IT
Fast implementation for current Xcellerate IT customers to become eInvoice enabled in readiness to onboard supplier eInvoices
Join Howard Boretsky (Xcellerate IT), Robin Sands (Link4) and the ATO as we demystify eInvoicing.
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