Invoice Processing

Australian freight forwarder and global logistics business, Seaway has selected the London based logistics software solution Shipamax to automate data capture for its Bill of Lading and AP Invoice document types.  

The July 1, 2022 e-invoicing mandate announced by the Commonwealth Government will not force Australian businesses supplying to government to replace their existing financial systems and processes from that date. The Government will instead adopt a steady as she goes approach to the Peppol e-invoicing transition.

The Prime Minister and Treasurer have announced a $A3.6 million push to make electronic invoicing mandatory for all Commonwealth agencies by July 1, 2022. They also plan to consult on options for mandatory adoption of e-invoicing by businesses.

Solution provider Xcellerate IT has partnered with Link4, an e-invoice Access Point provider, to offer a solution that enables customers to accept inbound e-invoices into Kofax, where additional validation can occur before being exported to an ERP system.

Basware has launched SmartPDF AI, an evolution of its SmartPDF service to automate the conversion of machine-readable PDFs to e-invoices. It replaces optical character recognition (OCR) technology that relies on capturing data from images by using data automatically extracted from historical invoices via machine learning.

The New South Wales Department of Customer Service (NSW DCS) has implemented an e-invoicing solution to  automate the procure-to-pay process for more than 41,000 invoices processed annually by its shared services centre, although it will continue to allow suppliers to send paper/PDF invoices.

Storecove, an e-invoicing solution provider that established its Asia-Pacific presence in November last year, has announced the first group of companies to sign up as Storecove partners in the Asia-Pacific region.

Quadient has acquired YayPay, a company that offers SaaS accounts receivable (AR) automation solutions for $A28 million in cash. The acquisition of YayPay will expand Quadient’s Business Process Automation offer, complementing its cloud-based platform Quadient Impress, a multichannel document automation platform for small and medium businesses.

According to the Australian Bureau of Statistics, two thirds of Australian businesses reported revenue had decreased during the COVID-19 pandemic in comparison to the same period the previous year. This creates an immediate and urgent need for Australian business owners to reduce costs and improve processes for the future through digital transformation.

Esker has been certified as a PEPPOL (Pan-European Public Procurement On-Line) Access Point by the Australian Taxation Office (ATO) and the New Zealand Ministry of Business, Innovation and Employment (MBIE). This accreditation enables Esker to send and receive e-invoices to and from all entities using the PEPPOL network.