More than 50,000 Kiwi businesses have now registered with the eInvoicing network to reap the productivity rewards of faster and more reliable payments.
“eInvoicing is a game changer for small businesses. With limited cash reserves, a late or unpaid invoice can quickly throw businesses off track and create a domino effect of challenges,” said Small Business and Manufacturing Minister Chris Penk.
Moving away from slow and administratively intensive paper and PDF invoices could bring NZD 400 million in annual productivity gains across New Zealand and make a real difference to providing stability for small businesses.
“That’s why it’s exciting to see eInvoicing picking up serious momentum. To date, more than 160,000 eInvoices have been exchanged, and that number is growing fast.
Penk said the benefits were clear: reduced admin costs, improved cash flow, greater accuracy, and stronger protection against invoice fraud and scams.
“It’s no wonder businesses are making the switch in droves.”
The Government has been supporting this momentum by updating its systems. Last year, it committed to ensuring all government agencies that process more than 2,000 domestic invoices annually will have eInvoicing systems by the end of this year.
Smarter working methods were key to the plan to lift New Zealand’s economic productivity and improve public sector efficiency.
“With more than 50,000 businesses and government on board, eInvoicing has well and truly taken off and will soon be the new normal. I encourage all businesses to switch to eInvoicing so everyone can benefit from this technology.”
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