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E-invoicing, SCF & E-procurement

Australian government uses e-invoicing standard for private sector transactions

Tuesday 9 May 2017 | 12:49 PM CET

Australian government has announced using a new e-invoicing standard to conduct end-to-end transactions with the private sector.

Developed by eVision, the MessageXchange cloud service delivered a test e-invoice to a grant recipient. The new standard was developed through a collaboration between government and industry, led by the Digital Business Council. The Council was founded in 2015 and has members including the ATO, the Department of Finance, the AIIA and the Australian Business Software Industry Association (ABSIA).

Furthermore, besides benefiting the government, industry standardisation of e-invoicing is expected to facilitate further adoption in the private sector, particularly among smaller businesses. Widespread adoption of e-invoicing has been forecast to save Australian businesses between USD 7 billion and USD 10 billion annually, according to TechnologyDecisions.

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