Source: New Zealand Government
More than 50,000 kiwi businesses have now registered with the eInvoicing network to reap the productivity rewards of faster and more reliable payments, Small Business and Manufacturing Minister Chris Penk says. “eInvoicing is a game changer for small businesses. With limited cash reserves, a late or unpaid invoice can quickly throw businesses off track and create a domino effect of challenges. “Moving away from slow and administratively intensive paper and PDF invoices could bring $400 million in annual productivity gains across New Zealand and make a real difference to providing stability for small businesses.
“That’s why it’s exciting to see eInvoicing picking up serious momentum. To date, more than 160,000 eInvoices have been exchanged, and that number is growing fast.
“The benefits are clear: reduced admin costs, improved cash flow, greater accuracy, and stronger protection against invoice fraud and scams. It’s no wonder businesses are making the switch in droves.
“The Government is supporting this momentum by updating our own systems. “Last year, we committed to ensuring all government agencies that process more than 2,000 domestic invoices annually will have eInvoicing systems in place by the end of this year.” “Smarter ways of working are key to our plan to lift New Zealand’s economic productivity and improve public sector efficiency. “With more than 50,000 businesses and government on board, eInvoicing has well and truly taken off and will soon be the new normal. I encourage all businesses to switch to eInvoicing so everyone can benefit from this technology,” Mr Penk says.