Link4 CEO Robin Sands and Levine Naidoo, Executive Consultant at the Australian Taxation Office spoke on an online event about “What does e-Invoicing mean for Australian Accountants & Bookkeepers”.
Speaking to a group of bookkeepers and accountants, Mr Naidoo noted that a motivating factor for the government’s support of e-Invoicing is to encourage the adoption of new practices by businesses to reduce their operating costs, promote productivity gains and support economic growth.
Why is e-Invoicing a key place to begin automation for small business? Naidoo notes, “Every business sends or receives invoices. Hence, it’s a good place to start to drive productivity improvements and economic growth.”
The Australian e-Invoicing framework is being created on well established and internationally accepted standards. It is designed for scalability and will promote growth across multiple trading communities.
But e-Invoicing is not just for the benefit of business. Levine Naidoo also noted, “Government agencies are looking to take costs out of core back office systems such as accounts payable, so it can focus more on service delivery.“ This includes all levels of Australian government, including local, state and federal.
Mr Naidoo did indicate that the Australian e-Invoicing framework will be available soon. Currently small and medium businesses using cloud accounting software including Xero, MYOB, Quickbooks, Sage One, Reckon & SAASU can use Link4 to exchange invoices on the cloud instantly.
Link4 is currently leading a proof of concept project to exchange invoices between businesses through the Australian e-Invoicing framework in the final stages. Recent press releases highlight organisations which have finished successful tests of the network and more press releases and case studies are soon to be released.
Robin Sands, CEO of Link4, asked Levine Naidoo further questions and the answers can be heard in the webinar recording on the Link4 website.