What is InvoiceNow?
InvoiceNow allows direct transmission of invoices in structured digital format from one finance system to another using the Nationwide E-delivery network, which is based on Peppol, allowing for the invoice to be flipped to E-payments such as Paynow directly.
Eligibility Criteria
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Complete a one-time registration at this form to receive payout status and other InvoiceNow related matters from IMDA: www.go.gov.sg/register-itb
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Find your business customers on the SG Peppol Directory and retrieve their Peppol ID information (www.peppoldirectory.sg).
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Send an e-invoice directly from your solution to your business customer on the network.
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Receive your bonus via PayNow Corporate, no claim is required.
How to get it?
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Complete a one-time registration at this form to receive payout status and other InvoiceNow related matters from IMDA: www.go.gov.sg/register-itb
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Find your business customers on the SG Peppol Directory and retrieve their Peppol ID information (www.peppoldirectory.sg).
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Send an e-invoice directly from your solution to your business customer on the network.
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Receive your bonus via PayNow Corporate, no claim is required.
What is Peppol?
Peppol is a set of artifacts and specifications enabling cross-border eProcurement. The use of Peppol is governed by a multi-lateral agreement structure which is owned and maintained by OpenPeppol.
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Peppol is not an e-Procurement platform but instead provides a set of technical specifications that can be implemented in existing eProcurement solutions and eBusiness exchange services to make them interoperable between disparate systems across Europe.
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Peppol enables trading partners to exchange standards-based electronic documents over the Peppol network (based on a 4-corner model). These documents include e-Orders, e-Advance Shipping Notes, eInvoices, eCatalogues, Message Level Responses, etc.
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Peppol Access Points connect users to the Peppol network and exchange electronic documents based on the Peppol specifications. Buyers and suppliers are free to choose their preferred single Access Point provider to connect to all Peppol participants already on the network. (‘Connect once, connect to all’).
Benefits
Increased Security
Reduction in errors
E-invoicing lowers processing costs by more than a third. This is a result of the time, mistakes, and data entry associated with conventional techniques.
Documents for PEPPOL are supplied electronically. This implies there will be no more human data entry, document scanning, manual corrections, or errors, which can cause payments to be delayed and processing periods to be lengthened.
Automation of invoices
Cost savings
Automate your invoice processing, right from your present ERP, from creation to payment and acceptance.
The cost of processing invoices can be reduced by over one-third with the use of PEPPOL e-invoicing. This is due to the time-consuming manual entry of data and the errors that occur when using paper or PDF documents.
Greater Reliability
Get paid faster for e-invoices
PEPPOL has robust error-correction and monitoring capabilities, which are unlike those found in email and physical mail.
Standardized e-invoicing speeds up payment by reducing processing times. The Australian government has agreed to pay vendors within 5 days of receiving an electronic invoice submitted through PEPPOL.