E-invoicing is the direct exchange of invoice information between the business systems of buyers and suppliers. E-invoicing is not about sending PDFs through the email system. With e-invoicing, 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 e-invoices 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
E-invoicing is more efficient, accurate and secure. The Australian Government is committed to delivering e-invoicing. 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 e-invoices
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 Kofax, providing a PDF representation of e-invoice and traditional invoice data
A PEPPOL certified Access Point for receiving e-invoices from your suppliers Access Point provider
Have your system configured to send e-invoices (outbound) from your finance solution using the same Access Point provider via Xcellerate IT
Fast implementation for current Xcellerate IT customers to become e-invoice enabled in readiness to onboard supplier e-invoices
Join Howard Boretsky (Xcellerate IT), Robin Sands (Link4) and the ATO as we demystify e-invoicing.
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