eINVOICING: THE FUTURE OF INVOICING IN NEW ZEALAND
Say goodbye to receipts, PDF, and email invoices! eInvoicing is here to simplify invoicing forever. Find out what eInvoicing in New Zealand is and why over 50,000 Kiwi businesses have decided to adopt it.
Introduction To Electronic Invoicing
Electronic invoicing (eInvoicing) uses financial software to exchange invoices and payments directly between two accounting systems.
It eliminates the need for paper, PDF, and email invoices, as well as manual data entry, resulting in more efficient and accurate invoicing.
In fact, around 50,856 businesses in New Zealand have adopted eInvoicing.
Why Use eInvoicing?
Why are more than 50,000 New Zealand businesses making the switch? The advantages are quite clear:
- Faster payment:
- Average of 25.1 days for small businesses to be paid which can be reduced with eInvoicing.
- Reduced admin:
- Saves time by eliminating re-keying, scanning invoices, making corrections, and chasing missing information.
- Cost savings:
- Processing costs are around $26 for paper invoices, $23 for emailed PDFs, and less than $10 for eInvoices due to reduced manual handling.
- Direct and secure:
- eInvoices minimize the risk of loss, fraud, or interception. Additionally, sender and receiver details are validated with audit logs for enhanced security.
- Universal connection:
- Connect to any eInvoicing system globally using Peppol standards for easy data exchange
- Improved financial visibility:
- Retains detailed invoice information for better visibility, supporting analysis, forecasting, planning, and budgeting.
- Available to any business:
- Accessible to all businesses and government agencies regardless of size; small businesses can use accounting software or free eInvoicing solutions.
- Improves the NZ economy:
- Estimated $4.4 billion savings over 10 years through increased efficiency with over 280 million business-to-business invoices exchanged annually in New Zealand.
Need Help with Accounting? We’re Here for You!
eInvoicing is set to become the future of business transactions in New Zealand, it’s about to completely change the way businesses handle their finances.
You can learn more about eInvoicing on the New Zealand government website here:
e-invoicing (govt.nz)
If you need any help regarding eInvoicing, we would be happy to assist you at DAD Accountant with any specific questions you may have about your situation.
March 12, 2025