A new eInvoicing Hub has been established for businesses in the Hunter region of New South Wales to help boost efficiency and combat scams.
The Hub, launched in Newcastle today, is a collaboration with local business groups. It aims to provide businesses with an opportunity to learn about the technology and help them realise the benefits of eInvoicing.
eInvoicing is a new standardised way to send and receive invoices via a secure network – using existing small business accounting software and apps.
It enables faster payments that can improve cash flow, and has in-built security, which helps to reduce the risk of invoice fraud and scams.
Adoption is growing, with more and more cost-effective solutions becoming readily available.
Over 33,000 businesses are registered for eInvoicing in Australia, including Bunnings, Woolworths and BOC Gas, and over 400,000 eInvoices have been delivered on the network.
Commonwealth Government agencies are also enabled, which allows us to offer 5‑day payment terms for our suppliers using eInvoicing under our Pay on Time or Pay Interest policy.
Together, with the support of local business groups, we want to create opportunities for local trading partners to exchange eInvoices and unlock the benefits of the technology.
Engagement activities will continue across the region in the lead up to and during NSW Small Business Month over October.
The Government encourages businesses and business advisers in the region to make the most of the initiative and find out more about how eInvoicing can help them.
If you want to find out more about eInvoicing, and how you can get started, visit ato.gov.au/eInvoicing.
Minister for Small Business, Julie Collins MP said:
“The Albanese Government is committed to ensuring small businesses are paid on time because we recognise how important cash flow is to small businesses, and eInvoicing is one of the tools that will help to achieve this.”
“Digital innovation such as eInvoicing means safer, faster and easier payments to small businesses allowing them to focus more on their core business and less time on administration.”
“We are committed to supporting small businesses in this community and across the country to improve their cash flow, utilise digital solutions and build their resilience.”
Assistant Treasurer, Stephen Jones MP said:
“The new eInvoicing hub is a great initiative for small businesses. I would like to congratulate the Hunter for blazing the trail and the Hub business and software partners for their support”.
“eInvoicing can make a real difference for Australia’s small businesses – improving their resilience to online scams and helping improve productivity by saving them time and money”.
“As scams become more sophisticated, small businesses need to arm themselves with the tools and technology to protect their business and consumers. With built-in security to disrupt scammers, eInvoicing will give small businesses an additional layer of protection against invoice fraud”.
Member for Newcastle Sharon Claydon MP said:
“Newcastle and the Hunter have been at the forefront of innovation throughout history so it’s wonderful to be leading the way as the first regional e-invoicing hub for the business community.”
“I congratulate local business groups, Business Hunter, HunterNet and The Business Centre who worked with the ATO to successfully launch the Hub. I encourage Newcastle businesses to learn about the technology and realise the benefits of eInvoicing.”