FAQs

• What is InvoiceNow?

  InvoiceNow allows direct transmission of invoices in structured digital format from one finance system to another using the Nationwide E-delivery network which is based on Peppol, allowing for the invoice to be flipped to E-payments such as Paynow directly.
  
  

• I am already using PDF E-Invoice, why is InvoiceNow different?

  In a common business scenario today, a PDF e-invoice is sent to the recipient organisation by email. This is a single-sided operation requiring your recipient to re-enter the details of the invoice into their own accounting system (e.g. accounts payable). A more complete solution should include the transmission of data from supplier system to buyer system without human intervention and potentially allow for the InvoiceNow invoice to be paid seamlessly.

• Who can register for a Peppol ID/InvoiceNow on behalf of the company?

  Any company authorised personnel can register for a Peppol ID/InvoiceNow on behalf of the company. However, you can only be registered with one Peppol Access Point provider at any one time.

• I am already registered with one Peppol Access Point. Can I register with the other?

  If you like to register with another Peppol Access Point provider, you will need to de-register with your existing Access Point provider before registering with your preferred Access Point provider.

• Is InvoiceNow e-invoicing different from Peppol e-invoicing?

  No, InvoiceNow e-invoicing is based on the Peppol business document standard and operates over the Peppol network and allowing enterprises to digitally transact with other linked companies on the Network.

• How can InvoiceNow help save cost?

  a. Faster payment of Invoices due to the simplification of Invoice to Payment processes. Several banks are working on solutions that allow users to directly flip an InvoiceNow e-invoice to an E-Payment.

  b. Reduction of tedious and time-consuming manual processes (estimated $8 per invoice according to a study commissioned by IMDA)

  c. Reduction of errors and rectification costs (estimated to affect 3% of paper invoices and costing as much as S$72 to rectify, according to a study commissioned by IMDA).

  d. Reduction of storage, retrieval, and delivery costs.

• How is the government helping end-user companies? How does this actually benefit them?

  IMDA has put in placed the nationwide e-invoicing framework with open and international standards for companies to adopt. Companies that adopt the e-invoicing network stand to gain from business efficiency and improved payment cycles. IMDA has also certified Access Points (APs) who will assist the end-user companies in getting connected through a variety of methods to meet the different digitalisation status of each company. By providing choices and making it easy for end-user companies to adopt e-invoicing through the open standard, more can come on board the network and gain from it early.

• If my supplier and/or client is not on the network, will I still enjoy the benefits?

  To benefit from the network, users (i.e. senders and receivers of invoices) must be registered on the network. Just like emails, there’s a need for each to be registered and have a PeppolID that partners can send InvoiceNow e-invoices to.

• Will the Government make InvoiceNow mandatory?

  The Government will consider making Peppol the only channel to invoice the Government when majority of the suppliers have come on-board the Peppol network.