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AutoCount Peppol Ready E-Invoicing Invoicenow

Integrated with accounting software via PEPPOL, handling both local & International transactions seamlessly.

What is Invoice Now?

Invoicenow

InvoiceNow allows direct transmission of invoices in structured digital format from one finance system to another using the Nationwide E-delivery network, which is based on Peppol, allowing or the invoice to be flipped to E-payments such as Paynow directly.

Time Saving

Great time saving solution with AutoCount E-Invoicing (InvoiceNow)

With a typical 60-day term invoice through the classic journey excluding financing or factoring, with AutoCount Invoice now solution, the time saved has been estimated to save up as:

Quicker generation of e-invoice and no latency due to postage or courier delays supplier’s end. Firstly, at the supplier’s end, an e-invoice can easily be generated from AutoCount with system assisted dropdowns, and customer and product information readily available. It will be even faster if there is an Order information already in the system. Comparing this with a fresh new data entry that often involves looking for the papers, generating an e-invoice out of a system can save hours and days of processing.
Minimized manual intervention with structured data format reduces human error. Manual invoice can easily take many days before the data is ingested into any system for processing. With AutoCount, e-invoices are transferred over Peppol network in a standard format, they can now receive invoices directly into the Accounts Payable system, the buyer can do away with manual data entry or scanning that heightens the risks of data errors, manipulation, or even fraud.
Straight-through processing and automatic discovery of anomalies and fraud using Ai on network data secured through encryption. Complementing InvoiceNow’s clean data, many accounting and ERP solutions like AutoCount are including sophisticated features to enable the users to use risk-based approach to processing invoices for payment. Lower cost and regular e-invoices can be funneled through instant straight-through processing. More complex e-invoices can be put through 3 or 4-ways matching assisted with other supporting data to help users check the e-invoices quickly. Artificial Intelligence enabled features can help in interpreting and triggering anomalies or even fraud along with a dashboard is also available to view invoices in real-time, and processing can be monitored closely to cut unnecessary delays.
E-payment can be done automatically, saving couple of days preparing payment files manually, result in companies and solution providers can now transfer payment files to banks for payment processing. IMDA has partnered with various banks, along with Association of Banks in Singapore to develop SME solutions to enable this functionality to drive a seamless payment.
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Register Steps

How to Register InvoiceNow and Join The Network?

Contact AutoCount for assistance or follow the steps below:

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Email Registration to AutoCount at: e-invoice@autocountsoft.com

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Received the PEPPOL ID within 3 Days.

4
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Register PEPPOL ID into AutoCount E-Invoicing, and start send and received the E-invoice

After you have successfully registered your business, you would be able to find your business and search for other registered businesses on the Singapore Peppol Directory here: www.peppoldirectory.sg. Once InvoiceNow has been activated in your finance system, you can add your business partners Peppol ID in your customer master so that you can start sending them e-invoices.

Can’t find the details you looking for? Contact AutoCount now to find out more.

FAQs

AutoCount E-Invoicing (InvoiceNow) FAQ

General Questions

InvoiceNow allows direct transmission of invoices in structured digital format from one finance system to another using the Nationwide E-delivery network, which is based on Peppol, allowing for the invoice to be flipped to E-payments such as Paynow directly.
In a common business scenario today, an PDF e-invoice is sent to the recipient organization by email. This is a single-sided operation requiring your recipient to re-enter the details of the invoice into their own accounting system (e.g. accounts payable). A more complete solution should include the transmission of data from supplier system to buyer system without human intervention and potentially allow for the InvoiceNow invoice to be paid seamlessly.
Yes, InvoiceNow is a type of Electronic Data Interchange (EDI) based on the Peppol standards. Additionally, the Peppol network complements companies' existing EDI connections to allow einvoicing to businesses connected to the Peppol network.
Peppol is an international E-Document delivery network and business document standard form of Electronic Data Interchange (EDI) allowing enterprises to digitally transact with other linked companies on the Network.
No, InvoiceNow e-invoicing is based on the Peppol business document standard and operates over the Peppol network and allowing enterprises to digitally transact with other linked companies on the Network.
InvoiceNow is supported by ABS which is the Association of banks in Singapore, as both InvoiceNow and PayNow are UEN based. Supporting banks are working on solutions that allow users to flip InvoiceNow invoices to payment (such as PayNow) directly cutting down on complexity and reducing business friction.
IMDA is the Peppol Authority responsible for definition of domestic rules, the governance of network by ensuring conformance of standards, and approving providers serving the Singapore businesses.
No, InvoiceNow only covers business to business transactions. Business to consumer transactions are currently not covered.
You can activate InvoiceNow on any Peppol Ready solution which has been certified by IMDA, such as AutoCount.
InvoiceNow on Nationwide E-delivery Network complements your existing EDI connections to allow e-invoicing to businesses connected to the Peppol network. This extends the reach of digital connections that you can access via your existing solutions to new segments.
You should not replace your EDI solution if it is providing you benefits. Peppol network complements your existing EDI connections to allow einvoicing to businesses connected to the Peppol network.

InvoiceNow to Government

InvoiceNow allows direct transmission of invoices in structured digital format from one finance system to another using the Nationwide E-delivery network, which is based on Peppol, allowing for the invoice to be flipped to E-payments such as Paynow directly.
In a common business scenario today, an PDF e-invoice is sent to the recipient organization by email. This is a single-sided operation requiring your recipient to re-enter the details of the invoice into their own accounting system (e.g. accounts payable). A more complete solution should include the transmission of data from supplier system to buyer system without human intervention and potentially allow for the InvoiceNow invoice to be paid seamlessly.

Cost & Benefits to Organisations

  • Faster payment of Invoices due to simplification of Invoice to Payment processes. Several banks are working on solutions that allow users to directly flip an InvoiceNow einvoice to an E-Payment.
  • Reduction of tedious and time consuming manual processes (estimated $8 per invoice according to a study commissioned by IMDA)
  • as much as S$72 to rectify, according to a study commissioned by IMDA).
  • Reduction of storage, retrieval and delivery costs.
IMDA has put in placed the nationwide e-delivery network with open and international standards for companies to adopt. Companies that adopt the e-invoicing network stand to gain from business efficiency and improved payment cycles. IMDA has also certified Access Points (APs) who will assist the end-user companies in getting connected through a variety of methods to meet the different digitalisation status of each company. By providing choices and variety for end-user companies to adopt e-invoicing through the open standard, more can come on board the network and gain from it early.
To benefit from the network, users (i.e. senders and receivers of invoices) must be registered on the network. Just like emails, there's a need for each to be registered and have a Peppol ID that partners can send InvoiceNow e-invoices to.
Though getting paid earlier and improvements to efficiency and are clear monetary benefits. Having a digital connection for B2B document exchange is also a good first step to further digitalisation.
a. Faster payment cycles
InvoiceNow Invoices are more efficiently being sent out in suppliers' systems and then received, captured and processed more quickly at buyers’ systems, thus speeding up payment. Faster payment as a result of faster processing. Delay in payment is a major concern of SMEs (SPRING 2017 business survey). A US Federal Reserve Bank of Minneapolis in 2017 showed 45% of paper invoices were paid on time compared to ~92% of e-invoices.

b. Cost reduction
Research have indicated that senders of e-invoices can save about 59% and recipients can save 64% compared to using paper-based processes. Contributing cost factors could be storage and retrieval of hard copy invoices.

c. Improve efficiency
  • Paper and PDF invoices require finance or accounting staff on both sides to key and rekey data into electronic systems. This process of data entry leads to human error. Error-prone manual process is avoided with e-invoicing.
  • Businesses can skip labour-intensive steps such as verifying information, rectifying errors and resolving conflicts.
  • Process are more streamlined

d. Reduced Complexity
Just as PayNow is a UEN-based e-payment, InvoiceNow is also a UEN-based e-invoicing, by using the same underlying UEN, Invoice to payment processing can be further simplified.

e. Transact internationally
When other businesses are in the network, sending e-invoices to overseas partner is seamless.

Most Access Points (AP’s) and Solution Providers (SP’s)will charge based on transaction fees (sending and receiving InvoiceNow e-invoices). With the wide variety of AP’s and SP’s in market with several offering free InvoiceNow e-invoicing feature, the market is expected to be competitive. Some will provide limited free InvoiceNow e-invoices sufficient for small businesses. Some will bundle the transactions in a bigger product package. While the rest will tier the transactions, where at high volume the price per transaction can be very low. For businesses who require value-added services (e.g. translating the PDF invoice into the InvoiceNow Peppol format), APs and/o SP’s may charge additional fees. The overall savings by moving to e-invoicing is expected to exceed the costs, irrespective of size of businesses.

How Do I Get Connected?

The process of connecting depends on the complexity of the systems and processes involved. Many local accounting and ERP solution providers have default capabilities to send InvoiceNow e-invoices which can be switched on with immediate effect, while for others there is a need to make changes to the systems and processes that may vary in duration.
The steps that you as an end user business need to do are:
  • a. If you are using a service provider's Accounting/ERP solution, check that they are certified as a Peppol Ready solution (such as AutoCount).
  • b. Alternatively, you can check with your banking provider if they can assist with a solution offering.
  • c. If you have your own financial system, engage with an approved Access Point (AP) operator who will be able to help you connect your system. The list of approved Access Point operators can be found from IMDA website www.imda.gov.sg/einvoice (see under ‘Access Point and Solution Providers’)
  • d. Once you have your solution established, register and get your Peppol business identity (typically done by your AP)
  • e. Learn how send and receive Peppol e-invoices using your solution.
  • f. Update all Purchase Order documents with your Peppol business identity for invoicing.
  • g. Announce that you are E-invoicing ready to all your business partners and suppliers
IMDA provides regular business briefing and technical workshops through the year. Please do look out for these events on the website (www.imda.gov.sg/invoicenow).
Yes, InvoiceNow e-invoicing can be integrated to AutoCount accounting system.
Countries which have adopted Peppol as their standard are listed on OpenPeppol website: https://peppol.eu/what-is-peppol/peppol-country-profiles/
You can receive and send InvoiceNow e-invoices to businesses in other countries as long as they are on the Peppol network.
You would be able to search for your Peppol Ready suppliers, partners and customers here. If you would like to specifically search for Peppol Ready Singapore-registered businesses, you can search by name or by UEN number do remember to add a “0195:SGUEN” to the UEN number in your search string (i.e. search for “0195:SGUEN”‹‹UEN Number››).
Briefing for businesses, are available on a monthly basis. Latest information can be found on IMDA’s website (www.imda.gov.sg/invoicenow).

Network Security

Yes, the network is secure. Firstly, only Peppol certified Access points are registered on the network and are authorised with a PKI certificate issued by the governing authority. Secondly, all data being transmitted on the network is protected with SSL transport layer security such that it only goes through securely encrypted pipes. Thirdly, the data being transmitted is signed using the Access Points Service Provider (AP) authorised PKI certificate to ensure that the data is genuine and non-repudiable. Lastly, any receiving Access point will check the signature of the sending Access point service provider to ensure that it is as per the authorised one registered on the network and only accept data sent by genuine Access Points.
No, sent e-invoices cannot be retrieved. The InvoiceNow networks functions similarly to email, i.e. once the invoice is created/finalised and sent across the network, there is no feature/function in the network to retrieve the sent invoice. In order to cancel the incorrect invoice, we recommend the supplier to send out a credit note with reference to the wrongly sent invoice to cancel the incorrect data elements. Alternatively, the supplier can instruct the e-invoice recipient to discard the received incorrect e-invoice and re-send a fresh one.
No, under current regulation government is not able to access or track your e-invoices. The routing of e-invoices through the network is on a direct peer to peer basis between the sending and receiving Access Point providers. SGNIC maintains a central directory of businesses on the network which is necessary for Access Points to know which AP to route destination e-invoices to.

LET's FIGHT CoVID-19 TOGETHER

AutoCount offers help to all SMEs the ability to work from home

In light of the CoVid-19 outbreak, Singapore Government has announced the Disease Outbreak Response System Condition (Dorscon) level raised from yellow to orange, and this is to avoid the spreading of the virus in the community.

As a precautionary measure, Singapore enterprises are encouraged to plan and implement business continuity plans to minimize operation disruptions and to ensure that business remains viable during the virus outbreak. The idea of working from home is one of the critical implementations factors of flexible work arrangements.

work anywhere anytime

Work Anywhere Anytime

AutoCount has ENHANCED the V2.0 features, which allow the internet user to log in from different locations to access their database to enable work anywhere at any time. Many accounting personnel can now rely on AutoCount to perform their routine accounting works from home/away from the office.

Our software solution help SMEs to efficiently manage accounting and inventory while it remains compliant with IRAS regulations. We want to help SMEs businesses stay afloat through this uncertain time and give businesses the luxury to continue running a business remotely.

AutoCount e-Invoicing

e-Invoicing

AutoCount is also E-Invoice Ready via PEPPOL Network (initiated by IMDA since 2019). It handles both local & international transactions seamlessly.

You can now enjoy the FREE e-Invoicing module on the first 50 transactions each month and this offer is valid up to 6 months. For subsequent transactions, it is charging at SGD 0.40 each transaction.

*Until 31 December 2021, T&C apply.

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