The Peppol e-invoicing standard originated in the European public sector to help make cross-border procurement easier. Its key feature is its ability to send invoices directly from one organisation’s ERP system to another’s. That means no inbox delays or printing, no extra handling or data entry, faster approvals, and of course, faster payment.
Figure 1 The Four-Corner model of the Peppol network
And when you’re dealing with government agencies and their myriad invoicing rules, that can be quite an achievement.
The Australian Government has already introduced Peppol e-invoicing, and as of January this year, its agencies have been paying invoices they’ve received through the gateway in five days.
Read more about business e-invoicing in Australia on the ATO’s website at https://www.ato.gov.au/Business/E-invoicing/
State government agencies are also catching on, with NSW announcing e-invoicing as part of their own faster payment terms policy.
And Peppol is not just for governments – it works just as well for B2B invoicing as well. Any business using Peppol can invoice other business clients through the gateway, here and overseas. (Right now, Peppol is the standard in Europe and Singapore, and is establishing in Australia and New Zealand.)
Governments love an acronym
Peppol stands for
Pan-European Public Procurement OnLine.
Getting set up
Whether you’re using MYOB Advanced, Exo, or AccountRight, you can take advantage of e-invoicing using Peppol. If you don’t want to go through the long application process to become a PEPPOL service provider yourself, you can simply connect through an already established one – like ExoBiz.
Using e-invoicing means generating invoices and receiving payments is a much simpler, more straightforward process. There’s no extra data entry, as everything is populated straight from your ERP system, and in the right format for government departments. And once you’re connected with Peppol, you’re ready to do business easily and securely with other organisations – public or private, large or small – independently of what financial software they use.
ExoBiz and BeyondEDI
ExoBiz has developed BeyondEDI, the first MYOB integrated e-invoicing portal for the Australian market. Part of our in-house BeyondSuite, BeyondEDI lets you manage your Peppol invoicing from your MYOB Accounts solution.
We can connect BeyondEDI to any MYOB system – Exo, Advanced, or AccountRight. And once you’re set up, you’ll be able to send and receive invoices from anyone in the Peppol network – and it’s easy to configure any of your existing customers and suppliers as they join.
Beat the rush – get e-invoicing ready now
The Australian Government is preparing a wider roll-out of e-invoicing for business later this year, but if you’re regularly dealing with government departments and agencies, it’s well worth the time to start getting ready now. The team at ExoBiz can help you identify what you need to do. We can also help you integrate digitally with anyone else in the international Peppol network.
If you currently use MYOB Advanced, Exo or Account Right, contact us today for details on how you can streamline your invoicing and payment processes with Peppol.