You may have heard of eInvoicing and the benefits it offers, but you are uncertain about how to get started and what's involved.
We recently recorded a video with BunningsExternal Link to discuss their eInvoicing adoption journey.
In this video, Bunnings' National Credit Manager David English discusses how they first identified the need to adopt eInvoicing, and how they worked with their IT service provider to develop a solution that worked well for them and integrated into their existing systems and processes.
'We used an existing data flow with [a digital service provider], and we worked with them to use that data flow to produce the Peppol file', said David.
'It was a fairly simple process … we didn't need to reinvent the wheel. The actual implementation was fairly straightforward.'
Businesses considering eInvoicing can explore a variety of pathways to adoption. Many existing software solutions have eInvoicing capabilities already, so it may be as simple as switching on that capability in your software. For others, you may need to connect your software to an accredited eInvoicing access pointExternal Link, as Bunnings did.
There is a range of costs and benefits that you need to consider when exploring eInvoicing as an option for your business. Importantly, to maximise the benefits and receive a quick return on your investment, consider transitioning your high volume customers and/or suppliers to this channel once you implement eInvoicing. While it may only be your top 5 or 10 trading partners, you will see immediate results.
To get started, talk to your existing software provider or an accredited eInvoicing access pointExternal Link provider. To learn more about what eInvoicing has to offer, visit ato.gov.au/eInvoicing.
If you have already made the switch to eInvoicing and would like to share your adoption story with us, please contact us at eInvoicing@ato.gov.au.
Watch our video with Bunnings to learn about their eInvoicing adoption journey and see how you can get started.