We have achieve another milestone. We are pleased to announce that Realtimme Cloud is InvoiceNow ready, at no extra charge.
Source : IMDA
IMDA (Infocomm Media Development Authority, Singapore) implemented the nationwide E-invoicing network in 2019 to help businesses improve efficiency, reduce cost, enjoy faster payment and stay green at the same time. This network is an extension of the International PEPPOL (Pan-European Public Procurement On-Line) E-Delivery Network allowing businesses to transact internationally with other linked companies.
It sits on the PEPPOL cloud platform where different system can send and receive Invoice seamlessly, cutting down the user time to repeatedly enter the same entry
You can send your e-invoice to your customer or receive invoice from your supplier, who must be also PEPPOL- ready in respective accounting system, which allows direct transmission of e-invoices from
one finance system to another without human intervention, speeding up invoice processing which results in faster payment. This greatly reduces the time spent verifying invoices and chasing for payment.
Follow the steps below to get your system ready
You will be assigned a PEPPOL id in a few days. Click here to get your PEPPOL id
|5.||Receiving supplier invoice via PEPPOL network|
Benefits of InvoiceNow
Incoming e-invoices (bills) are automatically delivered into Realtimme Cloud as a pending bill, or you e-invoice to your customer. Your job is to check the contents and the accounts code. The time to process incoming or outgoing invoice time is now almost halved.
|2.||No input errors|
Have you received a supplier invoice with invoice number like IO23445 or that looks like 1023445 or B22345 that looks like 823345 or 0000001543 and you record as 00001543 (with lesser zero). This will be a past with InvoiceNow. You can also prevent double payment for the same invoice but recorded twice because of the invoice number is recorded twice differently.
Ever experience your customer said they never receive your invoice? And you know that your payment is going to be delayed. You need to send again your invoice with a [Certified True Copy] and missed their weekly payment processing again.
With InvoiceNow, you can verify with your customer if the e-invoice is in their system. Any correction, you can send again and they delete the earlier wrong invoice. And you never miss their weekly or monthly payment cycle again. Don’t give your customer the excuse again.
|4.||No need to email pdf invoice to your customer any more and vice versa|
If you are still sending pdf invoice to your customer via email, chances are that the email is not received, or goes into the spam folder, or their email is no more valid with a returned mail. Most of the time your customer will tell you only when you chase for your payment. (See point 1). With InvoiceNow, your e-invoice will be inserted into your customer system almost immediately with verifiable audit trail.
Ever receive an invoice that is dated 2 months ago, when you already submitted your GST or already closed your monthly accounts?
With InvoiceNow, you send your invoice to your customer on the same day and your customer will record in their accounts payable as the same day you sent.
|6.||Applying for loans or factoring your bills|
|Your financial statement will get a better credit rating because you use InvoiceNow. The credibility, the accuracy and timeliness of your report gets higher confidence. Your liability will likely be not understated because supplier send their invoice to you via InvoiceNow once it is due.|
|7.||A greener business and a greener environment|
Are you still printing hard copy invoice to your customers or receiving printed invoices from your suppliers?. Lets take a step further.
InvoiceNow reduces the use of paper and plays a part in mitigating climate change
Next, submit your company information to on boarding InvoiceNow
Learn how to receive e-invoice from your vendor
FAQ: Click here