Deskera Singapore, alongside other top ERP software and invoicing brands, has recently become part of the nationwide electronic invoicing initiative implemented by the IMDA. This initiative seeks to help businesses improve efficiency, lower costs, speed up payment cycles, and provide better access to modern financing options through InvoiceNow (formerly e-invoicing).
What is InvoiceNow (aka e-invoicing)? And why is Deskera offering it for free in Singapore? In a nutshell, InvoiceNow is a process that allows businesses to transmit invoices easily. Deskera enables the use of electronic invoices that take the form of a single digital format, hence enabling direct transmission from one finance system to another.
The main purpose of Invoice Now in Singapore is to pave the way for faster and more convenient processing of financial transactions between companies within the PEPPOL network. Some of the benefits of Invoice Now includes:
Faster payment cycles
Processing, validation, and payment collection is a tedious process. With a universal process for e-invoicing in place, it becomes faster and more convenient to pay and get paid, making it easier for SMEs to grow and scale.
Reduction of costs
Going paperless has become a trend because of its effect on cost reduction as well as its positive impact on the environment. With Invoice Now, businesses will no longer need to print copies of invoices, significantly saving on paper resources and printing costs.
As businesses grow, their operations expand. Often, operation expansions may also involve transacting with overseas partners. With free e-invoicing via InvoiceNow (offered by Deskera), businesses can easily send e-invoices anywhere in the world, making it easier to form strong relationships with suppliers worldwide.
How to use InvoiceNow
Seeing the potential merits of InvoiceNow, getting connected to the Peppol network should be a priority for your business. You can choose from either of the following options to get onboard the Peppol network:
1) A solution provider that is connected to the Peppol network
2) An access point provider that is Peppol-ready.
Once on the network, you can then transition into a hassle-free way of invoicing by simply creating, managing, and sending out e-invoices via Invoice Now. Remember, whichever option you choose, you must obtain a PEPPOL ID in order to officially use Invoice Now service on the network.
Deskera is a proud member of the group of Certified Access Points and Solution Providers which serve as an extension of the International PEPPOL E-Delivery Network. Signup for a free trial of Deskera to start sending electronic invoices using Invoice Now today.
Read more: IMDA e-invoicing programme