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The government’s move towards business e-invoicing has been commended by those in the profession.
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Business e-invoicing move ‘step in right direction’
24 December 2021
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9 minute read
Late last week, the Morrison government released new proposals on the development of the Business eInvoicing Right (BER).
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The development of the BER would mean businesses are legally obliged to adopt and send e‑invoices if one is requested by an e‑invoicing‑enabled trading partner. If adopted, this change will accelerate e‑invoicing by ensuring when businesses invest in e‑invoicing, they will be able to use it with their trading partners.
“It is estimated that every time an e‑invoice replaces a paper or emailed PDF invoice, the businesses involved in the transaction can share more than $20 in cost savings per invoice,” superannuation and Financial Services Minister Jane Hume said at the time.
Matt Lewis, DSPANZ’s e-invoicing spokesperson, offered his thoughts on the developments, calling them a "step in the right direction".
“DSPANZ supports the announcement from Senator Jane Hume on the creation of a Business eInvoicing Right (BER) which will assist in increasing the uptake of e-invoicing across Australia," Mr Lewis said.
"E-invoicing is transformational for Australian businesses, particularly small business, as it is good for cash flow and facilitates five-day payment terms. It's also more secure and reduces the chance of invoice fraud. The BER will improve the e-invoicing system by allowing those enabled to be discoverable.
"This announcement sends a strong message that the government is serious about supporting e-invoicing and the multiple benefits e-invoicing brings to businesses."
Mr Lewis noted DSPANZ also supports the proposed phrased approach to the introduction of BER that begins with large businesses.
"We will be providing a detailed response to the government’s consultation paper with input from our members," he added.
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