Introduction of electronic invoicing (e-invoicing) into the Australian market

The operations of businesses are being dramatically transformed by a range of digital technologies
sweeping across the Australian and global economy. One area that has received less attention has been
the digitisation of business-to-business relationships. Of the many aspects of business-to-business
relationships that can be digitized – communications, contracting, supply of services – a crucial aspect is
e-invoicing, where bills are sent electronically and approved and paid automatically, doing away with
traditional paper invoices being physically sent in the mail and stored in filing cabinets.
Deloitte Access Economics estimates that every time an e-invoice replaces a paper invoice, it can deliver
up to $20 in cost savings to the business involved. It is estimated that there are over 1.2 billion invoices
exchanged annually with 89% of SMEs still processing paper-based or pdf invoices.
The level of adoption of e-invoicing will determine the degree of benefits realised. The Federal Government
is currently consulting on options to mandate e-invoicing for all government agencies (Federal, State, and
local) as well as businesses.

Source: Deloitte

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