- Australia and New Zealand adopted the Peppol framework in 2019 to ensure they could keep up with international trading partners and take advantage of eInvoicing benefits.
- The efficiencies of eInvoicing are expected to give both countries’ economies a boost through faster payments and reduced costs.
- Australia has mandated that the entire government sector implement eInvoicing through Peppol by July 2022.
- Peppol Authorities in both countries indicate that early adopters from the private sector have gained an advantage over the 90% of small- and medium-sized businesses that continue to process paper-based invoices.
- In Australia, 90% of businesses still use manual invoicing processes, while New Zealand has not put many regulations on public sector authorities or private businesses to start transacting through eInvoices.
- Peppol is a set of specifications called the Peppol interoperability framework that ensures the smooth exchange of electronic business documents across the eDelivery network.
- Within this framework are governance and architecture components, including the network itself, document specifications, and legal framework.
Source Tickstar
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