(+65) 6223 4385

INVOICENOW - A PEPPOL-READY E-INVOICING SYSTEM SOLUTION IN SINGAPORE

Contact Us

Expand your business operations with InvoiceNow, a comprehensive electronic invoicing (e-invoicing) system solution in Singapore.

InvoiceNow ensures the direct transmission of invoices in a well-structured digital format across various accounting platforms. Based on the open standard Peppol (Pan-European Public Procurement On-Line) network, it is designed to assist Small and Medium Enterprises (SMEs) and Large Enterprises (LEs) with efficient invoicing, expedited payments, and increased sustainability.

What is Peppol E-Invoicing in Singapore? 

Peppol e-invoicing is a revolutionary digital invoicing system that aims to streamline operations and enhance business productivity nationwide. It has been adopted by Singapore as part of its Smart Nation initiative to drive digital innovation and global interoperability.

IMDA authorises Access Point Operators (APs) for end-user business registration and e-invoice routing. Businesses registered on the Peppol network can send and receive e-invoices to and from any other registered company within Singapore and internationally.

Businesses are encouraged to switch to the Peppol e-invoicing system solution as it eliminates manual data entry, reduces human error risk, and accelerates invoicing. This enables real-time tracking of invoice status, fostering transparency and accountability in business transactions.

What is InvoiceNow?

Invoice NOW e invoicing Singapore logo

InvoiceNow is a form of e-invoicing that allows you to send invoices digitally across different finance systems. Unlike traditional invoicing, which requires a paper or PDF invoice, the e-invoice is automatically sent to the customer’s accounting system through a secure network.

InvoiceNow can help shorten your invoicing processing time and help your business get paid quickly without any manual paperwork.

ABOUT THE NATIONWIDE E-INVOICING INITIATIVE

In 2019, IMDA launched the nationwide e-invoicing initiative, InvoiceNow, to enhance business efficiencies across Singapore. This initiative is built on the international Peppol E-Delivery Network, which easily allows Singaporean businesses to transact locally and globally. As the first Peppol Authority outside of Europe, IMDA has enabled more than 50 Peppol-solution providers to connect to this network, streamlining processes like cost reduction, faster digital payments, and environmental sustainability. The initiative also encourages businesses to adopt e-invoicing with incentives such as the E-Invoicing Registration Grant, making it a preferred solution for digital transactions.

CHARACTERISTICS OF E-INVOICE IN SINGAPORE

E-invoicing in Singapore is a robust framework designed to digitise invoicing and streamline business transactions across industries. Below are the key characteristics of e-invoicing under the InvoiceNow initiative:

  • Tax Authority: Administered by IMDA (Infocomm Media Development Authority).
  • Format: Utilises SG Peppol BIS Billing 3.0 standard.
  • Obligation: No legal obligation; however, IMDA promotes its use, especially in B2B and B2G sectors.
  • Digital Signature: Not mandatory for e-invoicing.
  • Archiving: Invoices must be archived for a minimum of five years.
  • Required Administrative Transactions: Businesses must use an IMDA-registered Access Point that adheres to Peppol specifications for secure and standardised invoice transmission.

HOW DOES E-INVOICING WORK WITH INVOICENOW?

InvoiceNow streamlines and digitises the invoicing process and standardises the format of invoices to ensure compatibility across different systems. Here’s a comprehensive guide on how e-invoicing works with InvoiceNow:

Invoice Creation: The supplier creates an e-invoice using their accounting software detailing the goods or services provided, their cost, tax information, and the payment due date.

Invoice Standardisation: The e-invoice is then converted into the Peppol BIS Billing 3.0 format. This standard format ensures that the e-invoice can be read and processed by any system within the Peppol network.

Invoice Transmission: The standardised invoice is sent electronically via the InvoiceNow network. This digital transmission eliminates the need for physical mail, reducing delivery time and environmental impact.

Invoice Receipt and Processing: The buyer’s accounting system receives the e-invoice directly and automatically processes it. This includes matching the e-invoice with purchase orders and delivery notes, verifying the details, and scheduling the payment. Automating this process reduces the risk of errors associated with manual data entry.

Payment and Reconciliation: The buyer pays the invoice electronically. The payment information is then automatically reconciled in the supplier’s accounting system, completing the transaction and ensuring all records are up-to-date.

With InvoiceNow as a viable e-invoicing system solution in Singapore, businesses can enjoy a more efficient, accurate, and sustainable invoicing process. They gain real-time visibility into transactions, improve cash flow management, and maintain stronger relationships with suppliers and customers.

BENEFITS OF INVOICENOW

potential prospect considering for Singapore e invoicing solution
STREAMLINED PROCESSES for e invoicing system in singapore

Streamlined Processes

Reduce errors and time spent on manual invoicing.

FASTER PAYMENTS with our e invoicing solution singapore

Faster Payments

Speed up validation across financial systems through unique UENs.

A GREENER BUSINESS with our singapore e invoicing solution

A gREENER bUSINESS

Saves the environment with reduced paper waste.

e-Invoicing

AutoCount is also e-invoice ready via the Peppol Network, initiated by IMDA in 2019. It handles both local and international transactions seamlessly.

You can now enjoy the FREE e-invoicing module for the first 50 transactions each month; this offer is valid for up to 6 months. For subsequent transactions, each is charged at SGD 0.40.

*Offer valid until 31 December 2021. T&Cs apply.

INGENIOUS, YOUR E-INVOICING SYSTEM SOLUTION PROVIDER IN SINGAPORE

Ingenious, Singapore’s leading e-invoicing system solution provider, is your trusted partner for reliable and innovative e-invoicing solutions. We understand that managing invoices can be daunting in today’s fast-paced business environment. That’s why our e-invoicing systems are designed to simplify this process, allowing you to focus on what truly matters — growing your business.

Our systems are not only easy to use but also adhere to the highest standards of security, ensuring the integrity and confidentiality of your data at all times. At Ingenious, we continually refine our solutions, incorporating the latest digital advancements — including cloud accounting solutions, AutoCount accounting software, and inventory management systems — all designed to integrate seamlessly with our e-invoicing system for a hassle-free experience.

Ingenious is more than just a service provider; we are your partners in success. We believe in empowering businesses through digital transformation, and our e-invoicing solutions are a testament to this belief.

Get in touch with our team to learn about our e-invoicing system solutions in Singapore.

FREQUENTLY ASKED QUESTIONS ABOUT E-INVOICING IN SINGAPORE

Peppol Singapore refers to the local implementation of the Peppol framework, which stands for Pan-European Public Procurement On-Line. It is an international network that enables electronic business document exchanges such as e-invoices, allowing businesses within Singapore and internationally to communicate seamlessly. IMDA (Infocomm Media Development Authority) administers the Peppol network in Singapore, promoting its adoption to streamline business processes and enhance the digital economy.

No, e-invoicing is not mandatory in Singapore. However, the government strongly encourages its adoption through initiatives like InvoiceNow, part of the nationwide Peppol network. This encouragement aims to enhance efficiency, reduce transaction errors, and foster a more sustainable business environment. While optional, e-invoicing can significantly benefit businesses by speeding up processes and improving cash flow management.

Yes, individuals, including freelancers and sole proprietors, can issue invoices in Singapore. Whether using traditional methods like paper or PDFs or adopting modern e-invoicing solutions through the Peppol network, individuals have the flexibility to choose their invoicing method. Utilising e-invoicing can be particularly advantageous for maintaining organised records and ensuring timely payments.

InvoiceNow, an e-invoicing system solution in Singapore built on the Peppol framework, facilitates the exchange of invoice data in real time and a structured format. This enhances the accuracy of data and streamlines the invoicing process. While PDF e-invoices are also digital, they lack this structured format and necessitate manual data entry, which consumes more time and increases the likelihood of errors. In comparison, InvoiceNow’s automated system is more efficient than traditional PDF e-invoicing.

Any authorised representative of your company can register for a Peppol ID or InvoiceNow. This could be a director, manager, or a designated employee. However, to ensure seamless integration with your existing accounting or ERP systems, it’s often recommended to engage a Peppol-Ready solution provider in Singapore, such as Ingenious. We can handle the registration process and set up the e-invoicing system, making your company’s transition smooth and efficient.
InvoiceNow is a cloud-based e-invoicing system in Singapore that eliminates manual data entry, thereby minimising errors and rework. It expedites the e-invoice processing cycle, leading to faster payments and improved cash flow management. Furthermore, it eradicates costs associated with paper-based invoicing, such as printing and postage. With InvoiceNow, businesses enjoy enhanced operational efficiency and substantial cost savings.
To find your business partner’s Peppol ID for e-invoicing, you can use a Peppol Access Point (AP) provider in Singapore or a Peppol Directory service. These services allow you to search for registered entities using their business identifiers. Alternatively, you can directly ask your business partner for their Peppol ID.
Yes, you can register with multiple Peppol Access Points for e-invoicing. However, this approach might escalate the complexity of managing multiple connections. Therefore, selecting a single, reliable access point is generally more advisable. This choice should ideally align with your company’s specific needs and guarantee a seamless e-invoicing process.
InvoiceNow and Peppol e-invoicing are different but related. InvoiceNow is a service platform in Singapore designed to facilitate the process of e-invoicing. In contrast, Peppol is a broader, international standard that governs e-invoicing and sets the rules and guidelines for e-invoicing exchanges. InvoiceNow utilises this Peppol standard to ensure its compatibility and interoperability with various other systems on a global scale, promoting seamless and efficient digital transactions.
No. Currently, according to regulations, the government does not possess the capability to access or monitor your e-invoices. E-invoices are transmitted through a direct peer-to-peer arrangement between the sending and receiving AP providers.
The cost varies depending on the AP operator you select. Each operator provides distinct business models and additional services, requiring businesses to make decisions based on their specific needs.
IMDA has established a nationwide e-delivery network based on open and international standards for companies. Businesses that choose to adopt the e-invoicing network can experience enhanced business efficiency and faster payment cycles. Additionally, IMDA has certified APs to help end-user companies digitalise themselves. By providing diverse options for end-user companies, more companies can become early adopters of e-invoicing and reap its benefits.
All users must be enrolled on the platform to benefit from it. Similar to email addresses, each user needs to be registered and possess a Peppol ID, which serves as a unique identifier for users to send e-invoices to.

Most Access Points (APs) and Solution Providers (SPs) will charge transaction fees for both sending and receiving InvoiceNow e-invoices.

However, with the diverse range of APs and SPs available, including some offering e-invoicing in Singapore for free, the market looks to be competitive with pricing. For example, some providers may offer a limited complimentary InvoiceNow e-invoices, while others may bundle transactions into larger packages. Alternatively, some may adopt tiered pricing models, resulting in lower transaction costs at higher volumes.

For businesses seeking value-added services, such as translating PDF invoices into the InvoiceNow Peppol format, providers may charge additional fees. Despite these costs, the overall savings associated with transitioning to e-invoicing in Singapore are anticipated to surpass expenses, regardless of the size of businesses.

  1.   Companies can enquire about using InvoiceNow from their Accounting/ERP solution provider (the service provider should be certified as a Peppol-Ready solution).

Or, if they have their own financial system, they can enquire from an approved Access Point (AP) operator.

  1.     After your system is connected, you can get your Peppol business ID from your AP or accounting/ERP system vendor. 

3.    To begin e-invoicing, you will need to update all your Purchase Orders with your Peppol ID, and find the Peppol ID of the recipient business. You may use the SG Peppol Directory to find businesses which are registered in the Peppol network.

IMDA conducts regular business briefings and technical workshops throughout the year. Please check the IMDA website for upcoming events.