InvoiceNow is Singapore’s nationwide e-invoicing initiative developed by the Infocomm Media Development Authority (IMDA). It enables businesses to send and receive invoices directly between their accounting systems using a secure network based on the Peppol framework. This digital approach eliminates the need for manual data entry, speeding up payment cycles and reducing errors. Whether you are a small enterprise or a large organisation, InvoiceNow helps streamline business transactions with transparency and reliability. In this article, we will explore how InvoiceNow works, what Access Points are, and how they facilitate seamless e-invoicing in Singapore’s digital economy. By understanding its key features and benefits, your business can position itself to thrive in a more efficient and connected financial ecosystem.

What Is InvoiceNow?

InvoiceNow is an e-invoicing network powered by the international Peppol standard, designed to enable direct, system-to-system transmission of invoices across businesses.

Key Features

• Secure exchange of invoices between verified network participants.
• Automatic data entry into business systems.
• Support for both local and international business transactions.

Benefits to Businesses

• Reduced administrative tasks and paper waste.
• Faster payments through real-time delivery of invoices.
• Fewer invoice errors and disputes.

How InvoiceNow Works

The workflow of InvoiceNow centers around the use of Access Points that connect senders and recipients through a secure digital infrastructure.

Sending and Receiving e-Invoices

• A supplier generates an e-invoice within their accounting software.
• The invoice is transmitted via their Access Point to the buyer’s Access Point.
• The buyer’s system automatically receives and processes the invoice data.

This seamless process allows both parties to operate within their preferred systems without additional manual intervention.

Role of Access Points

Access Points act as gateways allowing safe and efficient transmission of e-invoices over the Peppol network.

Choosing a Trusted Access Point

• Ensure the provider is accredited by IMDA.
• Look for integration support with your existing ERP or accounting software.
• Consider the provider’s track record in reliability and local technical support.

To learn more about Access Points and setup, visit IMDA InvoiceNow.

Integrating InvoiceNow into Your Business

Integrating InvoiceNow is a straightforward process with the assistance of your chosen Access Point.

Steps to Get Started

• Contact an approved Access Point provider.
• Activate your InvoiceNow capabilities within your accounting or ERP system.
• Start exchanging e-invoices with partners already on the network.

With minimal setup, companies can begin reaping the benefits of faster transactions and improved workflow efficiency.

Conclusion

InvoiceNow is revolutionising the way Singaporean businesses handle invoicing by promoting automation, accuracy, and operational efficiency. By leveraging Access Points, companies can send and receive e-invoices more securely and quickly, fostering a more connected digital business community. Sodainmind is proud to be an IMDA-approved Access Point for InvoiceNow, supporting organisations across Singapore in their digitalisation journey. Whether you’re a startup or an established enterprise, we are here to help integrate and optimise your invoicing processes with ease and compliance. For more details or assistance, please reach out to us at info@sodainmind.com. Together, we can make your transition to e-invoicing seamless and effective.