The Department of the Treasury has extended its contract with Link4, their chosen e-invoicing provider. After an initial 12-month period where Link4 successfully completed an integration, training and invoice deliveries, the Treasury agreed to continue using Link4 to provide e-invoicing services for the department.
“Link4 have delivered a smooth and seamless e-invoicing experience for the Treasury, which is why they have chosen to extend this contract,” noted Robin Sands, Link4 CEO. “Our team is very experienced in providing e-invoicing services in Australia and it shows with projects like this.”
The ATO estimates that e-invoicing will benefit the Australian economy to the extent of $28 billion over 10 years. E-invoicing prevents invoice fraud, reduces time and money spent on manual data entry, and is better for the environment. Government suppliers who adopt e-invoicing benefit from 5-day payment terms, which significantly improves cash-flow for any Australian business.
“The Treasury were e-invoicing receive capable in December 2020, following a TechnologyOne upgrade, but only a handful of other departments have followed in their footsteps” says Sands. “Currently only 17.6% of Australian Government Departments are ready for e-invoicing, but thousands of businesses are actively using e-invoicing today.”
Government departments have been slow to adopt this new efficient service, even though it helps SMEs and will support economic recovery. Treasury are an outlier and set a positive example. It is great to see them continue supporting this initiative, and with Link4 as their trusted access point.