Grow your business with InvoiceNow
We are happy to share that our SAP Business One solution is now Peppol/InvoiceNow-ready!
What is InvoiceNow?
InvoiceNow is a nation-wide initiative launched by IMDA in 2019 which allows direct transmission of invoices in structured digital format from one finance system to another, creating a seamless business environment. This network is an extension of the International Peppol E-Delivery Network, allowing our enterprises to transact internationally with other linked companies.
With the InvoiceNow network, the invoice data will be integrated between your SAP Business One ERP and your vendor/ customer’s InvoiceNow-ready solution. This reduces manual and repetitive tasks, such as generating invoices and emailing to your customers/ suppliers.
Key benefits of joining the InvoiceNow network;
1. Streamlined Processes
Manual invoicing comes with its fair share of problems – not only is it time-consuming, it is also prone to errors which can cause delays and inconvenience in the invoicing process. With InvoiceNow, as the E-Invoice is transmitted between two systems without requiring human intervention, the chances of errors is much lower and thus, the invoicing process is more streamlined.
2. Faster Payment
All invoices sent through the InvoiceNow network will be in a standardized format, resulting in a faster validation process. This means that your clients can process invoices and make payments quicker, thus shortening your sales completion time and improving cash flow.
3. A Greener Business
Manual invoicing often involves printing and scanning invoices, which are not optimal for the environment. By sending and receiving invoices through the InvoiceNow network, you can reduce paper usage, which has a positive impact on the environment.
Can I check which of my customers/ suppliers are on the InvoiceNow network?
Certainly! You can check the list of local companies already on the InvoiceNow network at https://www.peppoldirectory.sg.
For foreign businesses on the network, you can view them at https://directory.peppol.eu.
As long as your company and your customer or supplier are listed in the Peppol directory, you will be able to send and receive E-invoices through Peppol.
Contact us to find out more about InvoiceNow and how it can help your company increase efficiency and productivity.