E-Invoicing is a Third of the Cost of Paper Bills

Issuing and paying invoices using eInvoicing software is a third of the cost of processing a paper invoice, according to research released by the Federal Government.

A paper invoice costs around $30 to process, compared to $27 for an emailed PDF invoice and $9 for an e-invoice.

Faster and easier

As well as providing capability to ensure there is less time spent on preparation and sending invoices, using eInvoicing can also lead to faster processing and quicker payments by your customers. Australian Government agencies pay eInvoices in five days.

Greater protection from scams

Using a software product, such as Xero or MYOB, that has e-invoicing capability is also more secure compared to posted or emailed invoices because it is sent through the secure Peppol network, which is an internationally recognised framework for eInvoicing. This framework is used in 40 countries around the world and by around 30,000 businesses in Australia.

By exchanging emails directly through this secure network, you cut the risks of payment redirections and false billing scams.

Finding the right provider and software for your business

You can search the Australian Tax Office’s (ATO) product register for providers of software products with e-invoicing capability.

To get advice and support about helping your business go digital, visit our Digital Solutions website.

Free Choosing The Right Digital Tools for Your Business workshop – 13 March

As part of the Digital Solutions program, we will be running an online workshop that guides you through using the right digital tools in your business to make it more efficient and profitable. This workshop can help provide a roadmap of how you can go about implementing online accounting software. Register here.

Free ATO webinar – 27 March

The ATO is hosting a series of webinars explaining what eInvoicing is, its benefits and how businesses can get started. The webinars will include eInvoicing demonstrations by accredited service providers, including major accounting software. The first webinar is on the 27 March and you can register here