MessageXchange has announced that it is the first PEPPOL-certified eInvoicing Access Point service provider in Australia and New Zealand.
Earlier this year, Australia and New Zealand announced that they were both adopting the Pan-European Public Procurement On-Line (PEPPOL) interoperability framework for eInvoicing. According to estimates, eInvoicing could save the Australian economy $28 billion over 10 years. The PEPPOL standard, which is governed by the international standards body, OpenPEPPO, allows businesses to easily exchange invoices electronically, eliminating the need for unnecessary data entry and inaccurate optical character recognition (OCR) scanning.
“MessageXchange is thrilled that to be the first PEPPOL-certified Access Point service provider in Australia and New Zealand. E-invoicing can provide huge efficiencies and cost savings to businesses, being 60 to 80 percent more efficient than paper-based processing. (2) This certification is testament to the commitment of MessageXchange to meet the PEPPOL standard and bring efficiencies to Australian and New Zealand businesses,” MessageXchange Managing Director John Delaney said in a press release.
He added, “eInvoicing is becoming a critical tool for Australian organizations. It removes the need for data entry and its inherent errors. Sending invoices electronically significantly reduces chances of it getting lost and shortens the time it takes to receive an invoice, reducing payment times. With the Australian government recently announcing it will pay eInvoices within five days, eInvoicing is set to take off.”
In addition, it was revealed in March that both countries were creating the Australia and New Zealand Electronic Invoicing Board (ANZEIB) to create and implement a plan on how eInvoicing will be rolled out over the next few years. This is a plan that both countries have been working on for years after the Australian Tax Office began pushing for a nationwide eInvoicing standard in 2016.
“Research shows it costs $30.87 to process a paper invoice, $27.97 per PDF invoice and only $9.18 per eInvoice — a significant saving,” Australian Small Business and Family Enterprise Ombudsman Kate Carnell said last year.