Did you know more than 60 percent of councils spend around 100 hours on processing invoices every month? Or that more than half of councils spend over $10,000 each month on this task?
E-invoicing is a smarter and cheaper way to do invoicing, and Local Government needs to get involved because the way those transactions are done is changing, the Australian Taxation Office says.
Australia and New Zealand are bridging the digital divide for businesses and opening trading borders through a common approach to e-invoicing.
This relies on international standards and common digital services that speak the same language, connecting trading partners and their systems into an open network.
Unlike scanning and emailing of invoices, e-invoicing enables suppliers and buyers to send and receive invoices directly to and from their software.
The result is no manual entry, less paper, scanning errors, phone calls and more focus on things that matter – your community.
The Australian Government is behind e-invoicing and committed to paying suppliers quicker when they use e-invoicing.
The ATO has been granted legal powers to administer the e-invoicing system in Australia and is working with government agencies and businesses to drive adoption.
State Governments are onboard and progressively making practical steps towards Peppol, such as NSW.
The ATO says it’s time for Local Government to get involved and benefit from e-invoicing.
Learn more here and ask your financials software provider about e-invoicing.