The partnership will allow Desktop Imaging customers to benefit from seamless and swift e-invoice sending and receiving facilities via the Peppol e-invoicing network. Councils, which happen to be some of Desktop Imaging’s key clients, will benefit from the security and efficiency of the new invoicing process as they deal with local suppliers and community businesses.
Link4 representatives have stated in the official press release that they are looking forward to helping strengthen the e-invoicing space in the private and public landscape of New Zealand. Desktop Imaging officials highlighted the sustainable nature of e-invoicing as well as the system’s potential to help clients achieve greater efficiencies in their invoicing processes.
According to ec.europa.eu, one of the main advantages of e-invoicing is that it provides significant savings in printing, postage, intra-office routing, and archiving by replacing a physical paper form with a structured digital form. This also allows the invoice to be handled and archived more efficiently.
Moreover, making the data machine-readable removes the need for manually viewing and reading a visual form of the invoice. This also removes the manual work of entering the invoice information into an Access Point system. An invoice in digital format supports savings in human resources and minimises the risk of errors in data entry.
According to the European Commission, adopting e-invoicing procedures in the public sector contributes to public policy priorities such as public-sector deficit reduction, financial transparency, and promotion of sustainable development. Furthermore, it can make a material contribution to public sector cost reduction and efficiency.
In March 2022, New Zealand officials have launched an initiative that aimed to simplify procedures and help companies handle large volumes of invoices while reducing costs. In essence, New Zealand has made the first step to make Business to Government (B2G) e-invoicing mandatory by enforcing that central government agencies must be able to receive invoices in an electronic format.
According to a report from imarcgroup.com, the global e-invoicing market reached a value of USD 8.74 billion in 2021, and it is expected that the market will reach USD 29.68 billion by 2027, with a CAGR of 21.5% during 2022-2027.
One of the key factors creating a positive outlook for the market is the significant growth in the e-commerce industry. However, the widespread adoption of advanced information technology solutions across the banking, insurance, energy, financial services, telecommunications, and retail industries also plays a role in this growth.
The report also details the influence and importance of web and software-based invoicing applications that can be integrated with the cloud, as well as artificial intelligence, Internet of Things, and predictive analytics tools in the context of the e-invoicing market growth.
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