New Zeeland Government invests USD 5.8 mln in drive for e-invoicing

The trans-Tasman project aims to drive direct invoicing between a supplier’s and a buyer’s online accounting software, over the next two years. In March 2018, the Prime Ministers of both New Zealand and Australia committed to advancing work on a common approach to e-invoicing as part of the trans-Tasman single economic market agenda.

In an April blog post, Xero said e-invoicing formats are readable by both humans and machines, allowing invoices to be automatically entered into accounting software.

In June 2018, the Australian Government, on the urging of accounting software vendors such as Xero, adopted a framework for digital invoicing. Meanwhile in Australia, Deloitte Access Economics estimated that digital invoicing could deliver economic benefits of up to AUD 28 billion over 10 years.