eInvoicing – a better way to do business
Read the factsheet below or download the Portable Document Format (PDF) version eInvoicing – a better way to do business is also available (PDF 619KB)This link will download a file.
eInvoicing supports businesses by streamlining your invoicing and freeing up time for you to run and grow your business.
eInvoicing is not email or PDF. eInvoices are exchanged directly between buyers’ and suppliers’ software. They appear automatically in your software ready to be paid.
It removes manual data entry for receivers and the need for senders to generate email invoices. This makes the whole process faster, more efficient, accurate and secure.
Benefits of eInvoicing
The benefits of eInvoicing include:
Saves time
eInvoicing saves you time by not having to:
- re-key or scan invoices
- fix errors
- chase missing information, overdue or lost invoices.
Invoice data is accurate and complete as key details are checked before the eInvoice is sent.
Reliable and secure
eInvoicing reduces the risk of scams and fraud as eInvoices are sent via a secure network by approved service providers.
The Australian business number (ABN) is used to deliver invoices to the right business, with less risk of fake or compromised invoices.
Cost savings
Research shows it costs businesses around $30 to process a paper invoice and $27 for an emailed PDF invoice, but it costs less than $10 to process an eInvoice.
Your actual savings will depend on your processes, how many invoices you send and the time saved in managing your invoicing.
Faster payments
eInvoicing means fewer errors and lost invoices, avoiding delays in getting paid.
Australian Government agencies are paying eligible eInvoices within 5 days.
Connect once, trade with many
Australia has adopted Peppol, an international standard, that allows digital invoices to be exchanged between different software or systems.
Once you’re connected to the Peppol network, you can exchange eInvoices with any business on the network that is also connected, regardless of their size or software.
Your invoice data
eInvoices are sent securely by ATO-approved service providers. The ATO administers the network, but we can’t access or view your invoices.
Getting started is easy
Check with your software provider to see if your software is eInvoicing-enabled and follow their steps to get started.
If you don’t use software, there are free and low-cost options available to help you start eInvoicing now.
Talk to your trading partners to see if they’re already connected. Encourage them to connect and start exchanging eInvoices with you.
Find out how to get started at eInvoicing for businesses.
A factsheet about eInvoicing, its benefits and how it can support businesses streamline invoicing.