Invoicing your customers and getting cash in the door is critical for any business, whether large or small. However there are significant delays and inefficiencies when processing due to manual handling, difference in formats between sender and recipient and a lack of integration with internal financial systems. The ATO estimates that it costs $30 on average to process an invoice today. With around 1b invoices in Australia today, thats a lot of value potentially wasted.
Australia has recently adopted PEPPOL as the nation's e-invoicing standard. This is exciting because it means that all businesses and government agencies will be able to digitally exchange invoices using the same format. The ATO estimates that this will bring down the cost of processing an invoice to less than $10, a 70% saving.
Our Bond Access Point (AP) and Service Metadata Provider (SMP) solutions will enable your business or government agency to start sending and receiving e-invoices using this new standard.
Invoicing is only one part of a business's procure-to-pay or order-to-cash process. We believe that the new standard will allow businesses and governments to build new ways of interacting with their ecosystem of customers and suppliers with the potential for greater integration and automation. To that end, we are also developing connectors with major ERP platforms like SAP, Oracle, Xero and MYOB to provide our customers with even more efficiency so automation of your P2P and O2C process can be end to end.
For platform players, develop an end to end business toolkit and experience that helps your customers manage ATO, Payroll, SuperStream reporting and efficient interactions with their supplier network and partners.
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