Who's already using eInvoicing?
eInvoicing at a glance
The benefits of eInvoicing
Faster payment and improved cash flow
Invoices are sent directly into the buyer’s financial system without manual intervention. There are no errors or delays, so fewer late payments.
Better supplier and customer experience
- A growing number of New Zealand businesses prefer to receive eInvoices, because it reduces their administration burden, eliminates lost invoices and reduces delays.
- Proposed changes to the Government Procurement Rules are likely to make eInvoicing mandatory for government entities.
Improved financial visibility
- When you receive eInvoices, full invoice detail is retained in your financial system to support improved analysis, forecasting, planning and budgeting.
- Invoices are easier to code, as there’s full information describing the goods or services going directly into the finance system.
- Cashflow visibility is improved, because eInvoices are received into your financial system in real time.
Direct and secure
- Deliverability is improved, because there are no email spam filters to worry about and a customer’s NZBN does not change.
- The risk of fake or compromised invoices is minimised, because invoices can’t be intercepted and tampered with.
- Invoices go directly into the buyer’s financial system, so buyers are assured they’re approving and paying genuine invoices.
- Sender and receiver details are validated, audit logs are kept and strict protocols are followed to ensure invoices remain secure while they’re sent across the network.
Reduced administration and processing costs
- eInvoicing is an additional, future-proofed channel that sits alongside your existing invoicing channels (e.g. email, EDI and post).
- Translation costs are cheaper than other channels.
- No manual data entry or processing is required, which eliminates human error and saves time. There’s no need to key in payment amounts, scan invoices, make corrections or chase missing information.