“We are happy to be supporting NHMRC with this service," Sands says.
According to Link4, in 2020, businesses lost $128 million to payment redirection scams. This figure is projected to be more than five times higher in 2021.
Through business email compromise, scammers can intercept an invoice sent via email and change the invoice's payment details without the purchaser knowing.
To address this, NHMRC is now able to receive Peppol e-invoices directly into their ERP system, without the need for emailed PDF invoices – making the invoice process much more secure.
Aside from security benefits, businesses that utilise e-invoice also increase their cash flow while receiving payments faster and spend less money on processing costs.
Suppliers connected to the Peppol network will be able to receive payment from government agencies (such as NHMRC) within five days.
"We are access point providers for The Treasury, Department of Industry, Science, Energy, and Resources, APRA, AOFM and Geoscience Australia,” notes Sands.
"Our onboarding processes is what makes Link4 a leader in the field. We were also able to quickly onboard NHMRC without interruption to their staff or processes,” concludes Sands.
E-invoicing has become a high-profile digital service throughout Australia in 2020 and beyond, Link4 says. More than 100 agencies need to be Peppol e-invoicing compliant by 30 June 2022, with the Federal Budget including $15.3 million towards promoting e-invoicing adoption.