eInvoicing capability for business
Andrea Candy, Customer Relationship Manager at Zipform Digital, explains why using the Peppol eInvoicing framework is essential for ensuring sound financial operations. We investigate exactly what Peppol is and share experiences of clients who have successfully implemented this integral part of the new economic digital infrastructure.
Electronic invoicing has been around for many years via PDF and email.
Whether you are working with thousands or millions of invoices every year, anyone in finance knows the majority are differently formatted, calculated and most require manual data entry. It is a continuous drain on resources and time.
Recently Zipform Digital adopted the world standard Peppol eInvoicing framework, which is more efficient, accurate and secure.
Using the Peppol framework for eInvoicing means there is one global format for invoices data: allowing for an automated exchange of structured invoice data directly between the sender and the receiver’s software across a highly secured network.
Where did Peppol originate?
The Peppol eInvoicing framework was originally developed as a pilot project by the European Commission and its goal was to provide simplified cross-border electronic procurement. In addition to being used in the European Union and has now been adopted by other countries in the Asia Pacific (including Australia) and North America.
Peppol is now the common standard for eInvoicing by businesses and Federal and State Governments in Australia.
How does it work?
In simple terms, it’s an automated exchange of invoice data directly between the sender and the receiver’s software, with a highly secure network protecting it. Businesses can send invoices in a standard data format to their end customers, and the invoice is received directly into their accounting software such as MYOB or Xero, without the need for scanning or manual data entry.
Not sold on it yet?
Beyond the ease of use, there are many additional advantages, including:
Five-day payment terms for Peppol e-invoices offered by most Federal, State, and local governments
Ability to receive all invoices from suppliers allowing direct import into your accounting software with no data entry required
As soon as your customers start requesting it, you can send e-invoices in Peppol format (it helps to be prepared!)
And most importantly, cost savings. On average, paper and emailed PDF invoices cost to process is between $27 and $30 each*. eInvoicing reduces this cost to less than $10 an invoice.
Zipform Digital can easily convert your existing data format into the Peppol format. We take care of the implementation, testing and integration with the Peppol Framework, without any need for additional work by our clients.
A well-known national hardware retailer recently converted to Peppol with the assistance of Zipform Digital. Their experience of the situation prior to Peppol is one that could be echoed by nearly all businesses:
“The PDFs were problematic due to multiple invoices being in a single PDF file. They would not successfully transfer to DEXT/receiptbank and therefore wouldn’t auto add into Xero. Only the first invoice on Page 1 would auto enter in Xero. To work around this I had to print the PDF (often 17 pages for example) and scan each invoice individually if I wanted to use DEXT/receipt bank, or I would need to manually enter and attach each invoice in Xero which was time consuming.
Having Peppol auto add the invoices into the Draft folder of Xero is a welcome improvement to the previous system.”
OZEDI CEO Christian Walkerden - Zipform Digital’s key technology partner – summed up why digitising procurement operations is critical.
“The need to digitise business is evident in every sector of Australian business life especially the public sector and Peppol eInvoicing represents the new, highly secure, rails upon which business will be transacted in Australia and New Zealand. But it’s more than just digitising your document flow it also allows for really smart automated decisioning to take place and that where the real innovation leap takes place.”
Discuss Peppol eInvoicing for your business with Zipform Digital, it only takes a couple of hours to explore all your options. Contact us today.