NPP is pleased to see eInvoicing gathering momentum in Australia. Treasury’s recent consultation on the business adoption of eInvoicing also references the benefits of integrating PayTo with eInvoicing: https://treasury.gov.au/consultation/c2021-185457
We welcomed the opportunity to respond to this consultation, which can be read here.
Our submission highlighted that there are significant benefits in being able to link eInvoicing together with real time payments processing to create a more seamless and integrated procure-to-pay process. Integration between payments and eInvoicing will deliver benefits for both senders and receivers of eInvoices including reduced operating costs, faster payment times, improved cashflow visibility, reduction in errors, improved reliability and security, and a reduction in fraudulent activity.
PayTo offers incremental benefits to eInvoicing, supporting Australian businesses to get paid faster. By bringing eInvoicing together with PayTo, payment times can be significantly reduced and the procure-to-pay process transformed.
Contact your financial institution for more information or email info@nppa.com.au. You can find out more about PayTo here: www.payto.com.au