New Zealand Launches e-Invoicing Initiative
New Zealand is following in Australia’s footsteps and moving forward with the implementation of electronic invoicing. The New Zealand government is committed to the adoption of e-Invoicing to support businesses and fiscal processes.
Central government agencies must be able to receive invoices in an electronic format beginning March 31st, 2022. This is the first step to making B2G e-Invoicing mandatory in New Zealand. It is anticipated that by 2026 90% of central agencies will be using electronic invoices.
The goal of this initiative is to simplify procedures and help companies handle large volumes of invoices to reduce costs. Digitizing the invoicing process will help alleviate administrative processing time and combat tax fraud. The New Zealand government estimates savings of NZ $4.4 billion over 10 years using the electronic system.
New Zealand has chosen to use the PEPPOL network
Companies will need to contract a certified PEPPOL Access Point to be able to exchange electronic invoices. EDICOM is a certified Access Point for the PEPPOL network in Australia and New Zealand.
This means that any company or public entity that wants to invoice electronically in Australia or New Zealand will be able to do so through EDICOM’s Global e-Invoicing platform.
EDICOM’s PEPPOL Access Point enables public administrations to interact with their partners and suppliers through integrated solutions that automate the exchanges of all types of electronic documents following the PEPPOL XML Standard. Due to its success PEPPOL is no longer available exclusively to European countries and is expanding outside of the continent. There are OpenPEPPOL members in 38 countries around the globe (31 European countries plus Australia, Canada, Japan, Mexico, New Zealand, Singapore, and USA).
Global e-Invoicing Platform
EDICOM provides its clients with a global e-Invoicing platform that centralizes issuing and receiving of all your invoices. If your company is a multinational with subsidiaries in different countries around the world you will need to comply with each one of their electronic invoicing requirements EDICOM’’s global e-Invoicing platform adapts to your ERP and accounting systems to meet the local requirements in the different countries where you operate.