Simplify Payments, Accelerate Cycles
Businesses are encouraged to adopt PEPPOL e-invoicing initiative which will standardize the format of invoices.
InvoiceNow is a part of the PEPPOL (Pan-European Public Procurement Online) e-invoicing framework and is a specific e-invoicing solution implemented in Singapore. PEPPOL is an international network that enables businesses to exchange electronic documents, such as e-invoices, in a standardized format.
InvoiceNow follows the PEPPOL format, ensuring compatibility and interoperability across different systems and software for standardize
InvoiceNow supports the use of digital signatures, providing authenticity and integrity to the invoices exchanged.
By automating the invoicing process, InvoiceNow aims to accelerate payment processing, reducing the time and effort required for invoice reconciliation.
InvoiceNow aligns with the Singapore government's efforts to promote e-invoicing and digitalization.
InvoiceNow is a nationwide E-invoicing method which allows businesses to issue e-invoices and transact more cheaply with other organizations on the network in a standardized format via the PEPPOL network. E-payment methods include PayNow Corporate, FAST and GIRO. Invoice Now is also part of a global e-invoicing network (PEPPOL), enabling cross-border eBusiness transactions securely. Click here to read more.
PEPPOL (Pan-European Public Procurement Online) enables trading partners to exchange standardized, electronic documents over the PEPPOL network securely. It features, among other things, electronic invoicing.
In a common business scenario today, an PDF e-invoice is sent to the recipient organization by email. This is a single-sided operation requiring your recipient to re-enter the details of the invoice into their own accounting system (e.g. accounts payable). A more complete solution should include the transmission of data from supplier system to buyer system without human intervention and potentially allow for the InvoiceNow invoice to be paid seamlessly.
E-invoicing is a safe and secure method to send and receive invoices using an electronic format (e-invoice) instead of paper-based documents. Transacting on the PEPPOL network will connect the seller and purchaser together. The e-invoices will be sent using an electronic standard and delivered directly to your PEPPOL registered partners on the network.
You will receive a monthly report giving you the details of your PEPPOL e-invoices activity (invoice sent and received). Notification will also be sent if you are close to reaching your PEPPOL data limit.
You can receive and send InvoiceNow e-invoices to businesses in other countries as long they are on the PEPPOL network.