Monday, 07 December 2020 10:05

Treasury uses local solution to start e-invoicing for suppliers Featured

Treasury uses local solution to start e-invoicing for suppliers Pixabay

The Federal Department of Treasury can now accept invoices from its suppliers through a digital channel, with an e-invoicing solution having gone live on Friday.

A statement from enterprise software company TechnologyOne, which has been working with Treasury and the ATO to develop the solution, said small businesses would now be able to be paid in five days.

It said Prime Minister Scott Morrison had asked every Federal Government agency to implement e-invoicing as part of boosting the economy as the country emerges from the pandemic.

TechnologyOne chief executive Ed Cheung said: "Growing up in and around small family businesses most of my early life, I know first-hand how important cashflow is to survive, and to be able to pay the bills and staff.

"Now, as the chief executive of a large and successful ASX-listed enterprise software company who's worked with the Federal Government for decades, I am very pleased to be able to work alongside Treasury and other agencies to help them realise the full benefits to their own business and to get money flowing to small businesses faster.

"We understand e-invoicing is a high-priority issue for the government, and we're committed to ensuring this important economic recovery and digital transformation initiative happens smoothly for the benefit of all Australians."

Peter Strong, chief executive of the Council of Small Business Organisations of Australia, a lobby group for the sector, said: "It should be noted that it is small business associations and the software industry who have led the way in getting e-invoicing onto the business and government's agenda.

"Now, more than ever, Australian small businesses need e-invoicing. Last year we were saying e-invoicing was the future. It's now the present, and it's great to see Treasury is truly leading by example.

"It's also very pleasing to see the Federal Government putting their 'buy local' message into action by choosing an Australian company like TechnologyOne, to lead the charge. E-invoicing is about less stress for small business folk and more time to run the business or spend time with family."

Contacted for comment, a Treasury spokesperson said: "The Australian Government has introduced e-invoicing to support businesses and make it easier and faster to get paid. Treasury is pleased to introduce this service."

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Sam Varghese

Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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