First invoice using Australian e-invoicing standard sent

The federal government has conducted its first end-to-end transaction with the private sector using the new Australian e-invoicing standard.

The Department of Industry, Innovation and Science used the Australian-developed MessageXchange cloud service to deliver a test e-invoice to a grant recipient. MessageXchange was developed by eVision.

The new standard was developed through a collaboration between government and industry, led by the Digital Business Council. The Council was founded in 2015 and has members including the ATO, the Department of Finance, the AIIA and the Australian Business Software Industry Association (ABSIA).

Widespread adoption of e-invoicing has been forecast to save Australian businesses between $7 billion and $10 billion annually.

Department of Industry, Innovation and Science COO Michael Schwager commented that “e-invoicing will deliver benefits to our suppliers, including grant recipients, but it will also allow the department to streamline its internal accounts payable processes. These in turn will generate efficiencies and improve the timeliness of payments to suppliers.”

The council’s chair and Council of Small Business Australia CEO Peter Strong added that as well as benefiting the government, industry standardisation of e-invoicing is expected to facilitate further adoption in the private sector, particularly among smaller businesses.

“e-invoicing is a transformational step in Australia’s digital business movement to a streamlined, integrated and productive economy, and is an exciting step forward —especially for the small business community,” he said.

“The Council is especially pleased to see government at the forefront of digital transformation.”

Image courtesy of GotCredit under CC

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