Singapore will be the first nation outside of Europe to implement the Pan-European Public Procurement On-Line (PEPPOL) e-invoicing standard. Driven by the Infocomm Media Development Authority (IMDA), businesses are encouraged to adopt this initiative which will standardise the format of invoices and will benefit from:
– Faster processing & payment cycles
– Reduced errors resulting from manual handling
– Lower operational costs
– Connect with businesses and exchange standards-based electronic documents in an open network
What is PEPPOL?
PEPPOL is an open network that simplifies document exchanges between companies (e.g., invoices, sales orders, catalogues, etc.) and facilitates the purchase-to-pay and order-to-cash processes. The PEPPOL network ensures compliance and standardisation of the documents. All participants’ use a common set of rules (for formatting, routing and sending), ensuring faster invoice delivery and reception.
How do businesses comply with PEPPOL standards?
In order to comply with the PEPPOL standards, each participating company needs to connect to PEPPOL via an access point, which enables businesses to exchange documents with any other access point on the PEPPOL network.
How can Esker help?
Esker is a member of the International OpenPEPPOL association and a certified PEPPOL Access Point. As an access point, Esker is able to process your documents and send invoices to any recipient within the PEPPOL network on your behalf. Processing your documents on Esker’s platform allows your documents to be “PEPPOL” ready.
Esker Accounts Receivable solution extracts and formats your invoice data to ensure the delivery to any platform (including PEPPOL) used by your customers. Esker’s AR solution can even automate the upload of the invoice to the customer’s AP portal using Robotic Process Automation. Esker has been operating in Singapore (HQ for Asia) for more than 10 years and its Singapore-based cloud infrastructure (MTCS Level 3) supports all local and global customers in Asia.