InoiceNOW
Launched by the Infocomm Media Development Authority (IMDA) in 2019, InvoiceNow-Singapore's nationwide e-invoicing network based on the international PEPPOL framework-has been around for some time, enabling businesses to exchange invoices in a structured digital format. This reduces the need for manual data entry (and the risk of errors), streamlining operations for greater efficiency. As Singapore progresses toward greater digitalisation, businesses are expected to keep pace with evolving tax compliance standards. One such development is the recent introduction of GST InvoiceNow, a key part of IRAS' push to modernise and streamline the way tax-related transactions are handled.
Why InoiceNOW Matters?
InvoiceNOW is essential for businesses as it connects Microsoft Dynamics NAV/365 Business Central to the PEPPOL Network, facilitating efficient sending and receiving of invoices. By enabling quick electronic transmission, it enhances cash flow and automates document registration, accelerating payment processes and reducing administrative burden. This innovation ultimately supports faster payments and greater operational effectiveness. Under the new requirement announced by IRAS, all GST-registered businesses must utilise InvoiceNow-Ready Solutions to transmit invoice data to IRAS for tax administration purposes. Invoices not issued through InvoiceNow, such as those from point-of-sale systems, should also be documented in InvoiceNow-Ready Solutions and forwarded to IRAS.
How PayNOW & InvoiceNOW Work Together?
The PayNOW and InvoiceNOW (PEPPOL e-Invoicing) Solutions integrate smoothly with Microsoft Dynamics NAV and D365 Business Central, automating payment collection and invoicing. These solutions improve customer experience and productivity while empowering enployees with digital tools. They help your business grow and stay competitive in a changing market. PayNOW and InvoiceNOW can be implemented on-premise or in the cloud for various versions of Microsoft Dynamics NAV and 365 Business Central
Benefits Of InvoiceNOW
Get Paid Faster
The universal e-invoicing standard speeds up invoice processing, validation, and payment times.
Choosing Winspire Solutions
At Winspire Solutions, we recognize the transformative potential of InvoiceNow (PEPPOL e-Invoicing) in today’s digital economy. Our expertise lies in integrating Microsoft Dynamics NAV/365 Business Central with the PEPPOL Network, enabling businesses in Singapore to send and receive invoices seamlessly and efficiently. Have a look at our add on solution on Microsoft AppSource
As an IRSP (InvoiceNow Ready Solution Provider) for Microsoft Dynamics 365 BC ERP we are not only accredited but also develop and maintain the connector solution that enables seamless e-invoicing for our clients. This means businesses using our solutions can trust that they are fully aligned with the latest GST invoicing regulations, and have a direct, supported path toward compliance.
Streamline your invoicing processes, enhance cash flow, dnd ensure compliance with an advanced e-Invoicing integrations. Let us help you achieve operational excellence and unlock the full potential of digital invoicing
Innovating Invoicing for Modern Enterprises
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