What is InvoiceNow?

Electronic invoicing (E-Invoicing) is the automated creation, exchange and processing of the request for payments between suppliers and buyers using a structured digital format. So, what does this really mean?

In Singapore’s context, Infocomm Media Development Authority (IMDA) has implemented the Pan-European Public Procurement On-Line (PEPPOL) InvoiceNow standard. Simply put, this standard generates invoices that contain structured data; data that is in a particular format so that it can be processed automatically. With PEPPOL, this comes in EDI - electronic data interchange format. The result is your invoice arrives in a format that’s immediately ready to be processed for payment, with no need for any details to be keyed in all over again. E-invoicing software helps businesses in Singapore, no matter large or small, save time by eliminating tedious manual entry of data. With e-invoicing, you can send and receive e-invoices from clients, suppliers and other stakeholders through the global public network PEPPOL instead of through email.

Benefits of InvoiceNow E-Invoicing

Get Paid Faster

With E-invoicing Software, You Can Accelerate Invoice Creation And Distribution. E-Invoices Can Be Received And Processed Faster.

Better Cash Flow

Through PEPPOL, Users Can Enjoy Immediate Delivery Of E-Invoices. It Shortens The Time To Payment And Thus Improves Cash Flow.

Improve Efficiency

E-Invoicing Software Processes Reduces Human Error And Time, Increasing Accuracy At The Same Time.

Transact Locally and Internationally

Transact Seamlessly With Other Companies That Are Linked To The InvoiceNow Network Locally And Abroad.

Free Sending & Receiving E-Invoices with Financio Singapore

Financio paid users in Singapore can now enjoy sending and receiving E-Invoices for FREE.

1. Subscribe To Financio

The PEPPOL-ready cloud e-invoicing software solution that gets you connected.

2. Connect To PEPPOL Network

Log-in to Financio and register for a PEPPOL ID.

3. Ready to InvoiceNow

Upon successful registration, you will receive a notification email from Financio.

Receive $200 when you send 10 e-Invoices with Financio!

4 easy steps to receive the InvoiceNow Transaction Bonus (ITB):

Register at the form: https://go.gov.sg/register-itb

Send first e-invoice
to receive $50

Send remaining 9 e-invoices to receive another $150

The bonus will be disbursed directly to you through PayNow Corporate

Learn more about InvoiceNow Transaction Bonus FAQ here

Need help to get started?

Simply click here to contact our friendly customer success team to learn more about our e-invoicing software.

Where can I find my business partner’s PEPPOL ID to send E-Invoices?

1. Go to the PEPPOL official website for directory search: https://www.peppoldirectory.sg/

2. Key in the Business Name/UEN number of your business partner in the search box.

3. Your business partner’s PEPPOL ID will be displayed.

Frequently Asked Questions About E-Invoicing in Singapore

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. By transitioning to e-invoicing, businesses in Singapore can enjoy more efficient payment processing.
In a common business scenario in Singapore today, a PDF e-invoice is sent to the recipient organisation 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. Financio’s e-invoicing software runs on the InvoiceNow system and eliminates redundant manual processes, automating the payment process so that employees can focus instead on high-value tasks. Learn more about why Financio is the right choice for your business.
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. PEPPOL lets you easily send and receive e-invoices between business accounting systems with InvoiceNow, reducing paperwork and manual data entry.
Any company authorised personnel can register for a PEPPOL ID/InvoiceNow on behalf of the company to start sending and receiving e-invoices. However, you can only be registered with one PEPPOL Access Point provider at any one time. Sign up for a free trial with Financio now to give our e-invoicing software a try and experience the benefits of an automated payment processing system.
If you would like to register with another PEPPOL Access Point provider, you will need to de-register your existing Access Point provider before registering with your preferred Access Point provider. Only upon doing so, can your use the PEPPOL network to send and receive e-invoices.
No, InvoiceNow e-invoicing is based on the PEPPOL business document standard and operates over the PEPPOL network, allowing enterprises to digitally transact with other linked companies on the Network.
  1. Faster payment of invoices due to the simplification of Invoice to Payment processes. Several banks in Singapore are working on solutions that allow users to directly flip an InvoiceNow e-invoice to an E-Payment.
  2. Reduction of tedious and time-consuming manual processes (estimated S$8 per invoice according to a study commissioned by IMDA).
  3. Reduction of errors and rectification costs (estimated to affect 3% of paper invoices and costing as much as S$72 to rectify, according to a study commissioned by IMDA).
  4. Reduction of storage, retrieval and delivery costs.
IMDA has put in place the nationwide e-invoicing framework with open and international standards for companies in Singapore 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 making it easy for end-user companies to adopt e-invoicing through the open standard, more can come on board the PEPPOL network and gain from it early.
To benefit from the network, users (i.e. both 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 PEPPOLID that partners can send InvoiceNow e-invoices to. Contact us now to learn more about e-invoicing software with Financio now.
The Government will consider making PEPPOL the only channel to invoice the Government when a majority of the suppliers have come on-board the PEPPOL network.