Professionals Who Want to Know
The Latest, Accurate Information On eInvoicing
Up With This Imminent Digital
Transformation
eInvoicing Has Arrived In Australia
And It Is Rapidly Changing The AP/AR Landscape
eInvoicing has finally arrived in Australia. This means businesses of all sizes are now able to:
- Send and receive electronic invoices, known as “eInvoicing”
- Spend less time dealing with traditional invoicing concerns (data entry errors, high wage costs)
- Rely less on paper and PDF invoices
- Get paid much faster
The Australian Government Will Pay eInvoicing In 5 Days *
The Australian Government is on board saying, “we are working with the software industry to use the Pan-European Public Procurement On-Line (PEPPOL) standard which is internationally established.” To sweeten the deal, eInvoicing issued to the Government will be paid within 5 days (and if they’re late, they’ll pay interest). This is your opportunity to leverage this unique situation and demonstrate industry leadership.
* The New Zealand Government is on board too. They will pay eInvoicing in 10 days (from 1 July 2020).
Which Of These Questions
Do You Have About eInvoicing?
Like many Accountants have you heard about eInvoicing but don’t yet know how to connect to the system or send eInvoicing yourself?
Are your clients starting to ask questions about eInvoicing that you don’t have immediate answers for (or where to find the best information without spending hours searching online)?
Are you keen to be proactive and help your clients use eInvoicing to increase efficiency, save time, and improve cash flow?
Like most Accountants, do you realise the crucial role you play in helping your client stay up to date with the latest digital disruption and how it can benefit them?
Are You The Leader Of An Accounting Firm?
Register For A FREE 12-Month Trial Of Promis So You And Your Clients Can Experience eInvoicing For Yourself
As a Promis Partner you can trial Promis for 12 months, where you’ll send and receive eInvoicing to and from your clients and suppliers, at zero cost.
This is an opportunity for your clients to experience the benefits of eInvoicing, whilst upgrading your internal invoicing processes.
Your Promis Partner trial is unrestricted and you’ll receive our world-class support and service every step of the way. To apply for your complimentary 12 month trial of Promis, simply click here to register your details
eInvoicing: What Is It and Why Use It?
eInvoicing is an automated direct exchange of invoices between accounting software systems, removing the need for manual invoice creation and paper and PDF invoices.
The uptake of eInvoicing by businesses and governments around the world is changing the entire Accounts Payable / Receivable process. According to a recent report by Billentis, eInvoicing has been adopted in the following countries:
eInvoicing is growing in popularity with SMEs:
The Australian Government are on board saying, “we are working with the software industry to use the Pan-European Public Procurement On-Line (PEPPOL) standard which is internationally established.” To sweeten the deal, eInvoicing issued to the Government will be paid within 5 days (and if they’re late, they’ll pay interest). This is your opportunity to leverage this unique situation and demonstrate industry leadership.
* The New Zealand Government is on board too. They will pay eInvoicing in 10 days (from 1 July 2020).
And it’s no wonder. Because eInvoicing provides many benefits including:
- Significantly reduces the cost compared with manual data entry
- Removes possibility of introduced errors
- Eliminates translation mistakes between software systems
- Reduces payment mistakes and delays
- Eliminates lost invoices and delivery discrepancies
- Maximises transparency and accessibility of invoices
- Provides ultimate security with end to end encryption (utilising Ozedi as the authorised access point)
- Automates GST checks to ensure tax is correct on invoices and payments
- And guarantees 5-day payment on government accounts
The Case Against eInvoicing
(And The Answer For You And Your Clients)
While the adoption of e invoicing is largely positive (and inevitable), it can be challenging for many Accountants and their clients to get started. The first phone calls, the first faxes, and the first emails were all sent with uncertainty. Yet they now bind us all together. eInvoicing is no different. Innovative Accountants like you have an exciting opportunity to fly the flag for this new technology.
How does Promis work? Promis works as a ‘data bridge’ that enables businesses to send and receive eInvoicing within your accounting system, without having to worry about any of the technology.
Unlike other eInvoicing services that charge based on the volume of invoices, Promis’ simple, flat fee makes eInvoicing affordable – no matter how many invoices you send and receive. As a user of Xero, MYOB or QuickBooks, your annual investment in Promis is only $240 plus GST. The initial 12 months is free of charge so you can try it out first.
While other programs merely help digitise basic paperwork, Promis enables you to create, send and track eInvoicing directly between accounting platforms, using raw data for total accuracy and security.
Take A Look At A Promis Case Study
Aidacare, one of Australia’s largest Healthcare Equipment and Service providers, operates from 23 locations and 50 distribution partner locations. Aidacare currently sends approximately 150,000 to 200,000 invoices per annum, so process improvement in this space was a key goal for the organisation.
One of Aidacare’s major customers, a large Aged-Care provider, asked them to start sending their invoices in a structured data format rather than a PDF.
Problems had arisen due to the customers AP Automation which couldn’t read all the data on the PDF’s requiring human intervention, slowing things down and creating additional manual tasks. eInvoicing removes the need for intervention in cases like this, thereby increasing efficiencies and turnaround times for payment.
In collaboration with the authorised access point, Ozedi, and Aidacare’s accounts payable solution, Basware, we have provided an elegant solution built right into Aidacare’s ERP.
As of 13 August 2019, the very first Trans-Tasman four-corner model for eInvoicing has been live in production and Aidacare has been sending eInvoicing to the first of their major customers.
This is a significant improvement for Aidacare and a milestone for the eInvoicing project in Australia. It is one giant leap towards a future-focused e-business world. Aidacare has helped to roll out eInvoicing and are supporting all their customers who are interested in increasing productivity and gaining critical business efficiencies.
Promis Has Processed 41,000+ eInvoicing
So Far And We’re Just Getting Started
The Promis engine has already processed over 41,000 eInvoicing while running in beta, totalling $33 Million in value. Here are some more facts about Promis:
- The development team behind Promis spent 25,000+ hours developing the system (so you don’t have to)
- Promis was established in 2015 and has grown into a team of 6 accountants and developers
- We’ve always had a single goal in focus: How can we eliminate unnecessary data entry and replace it with smart automation.
Comments From Our Clients
Want the Latest, Accurate Information on eInvoicing?
- How eInvoicing works (a plain English explanation of the technology)
- Critical lessons from eInvoicing in Europe (where this technology was developed and first utilised)
- What the Australian and New Zealand Governments’ adoption of PEPPOL means to you and your clients
- How eInvoicing will impact your clients with government contracts
- The fastest, simplest way to get started with eInvoicing