All government agencies can already receive e-invoices using InvoiceNow. Enabling government invoices to be sent through InvoiceNow will enhance processing speed and lower processing costs for transacting businesses
SINGAPORE – 30 NOV 2021
Businesses can now reduce cost and processing times when they transact with the Housing & Development Board (HDB), JTC and Maritime and Port Authority of Singapore (MPA) through the InvoiceNow nationwide e-invoicing network.
Launched by the Infocomm Media Development Authority (IMDA) in 2019, InvoiceNow is based on the international Peppol business standard, and invoices are transmitted over the Peppol document e-delivery network. This allows more than 40,000 Singapore businesses that have joined the network to digitally transact with other Peppol-linked companies in Singapore and worldwide.
As part of efforts to drive digital transformation and help Singapore businesses seize opportunities in the digital economy, IMDA worked with HDB, JTC and MPA to enable the agencies to issue e-invoices for direct receipt into their business customers’ accounting systems through InvoiceNow. Collectively, HDB, JTC and MPA represent 70% of public sector invoicing, and every month the agencies’ 25,000 business customers1 receive more than 49,000 invoices. E-invoicing enables businesses to digitalise the way they transact, reducing the amount of time and effort in re-keying in the data into their own systems, saving up to $8 per invoice2 processed and enjoying faster processing times when sending their own e-invoices. This will also enable our businesses to reduce their carbon footprint.
Mr Leong Der Yao, Assistant Chief Executive, Sector Transformation, IMDA, said, “IMDA has been pioneering the development of digital utilities, such as InvoiceNow, to enable our businesses large and small to transact seamlessly in the digital economy. With the support from HDB, JTC and MPA, companies on this nationwide InvoiceNow network can now receive e-invoices from these agencies, and benefit from going digital. I urge businesses that have not yet switched to e-invoicing to join InvoiceNow.”
HDB’s Group Director of Properties and Land, Ms Kee Lay Cheng said, “As part of our Service Masterplan to deliver a seamless customer experience, HDB has been constantly strengthening our capabilities in service delivery and harnessing the benefits of new technology and digitalisation. With InvoiceNow, we will be able to help our business partners streamline their transactions and bring about more convenience.”
JTC Group Chief Finance Officer, Ms Chee Wan Chin said, “With InvoiceNow, we hope to make it easier and more convenient for our customers and partners by digitalising business transactions.”
MPA Director, Finance, Procurement and Admin, Ms Cindy Sim said, “In tandem with digital transformation efforts of the maritime industry, MPA partnered IMDA to embark on InvoiceNow. This serves as an additional platform for our customers to receive invoices digitally via the Peppol network with greater efficiency. We hope this will help more maritime companies accelerate adoption of electronic business processes.
Businesses interested in participating in the nationwide InvoiceNow network to leverage the cost and labour benefits in receiving e-invoices, can visit: https://www.imda.gov.sg/invoicenow.
About Housing & Development Board (HDB)
The Housing & Development Board (HDB) is the public housing authority in Singapore. Established in 1960 to address an acute housing shortage situation, HDB has today housed more than 80 percent of Singapore’s resident population in well-designed flats located in comprehensively planned housing estates. Beyond the hardware of public housing, the building of communities is also of key priority to HDB. Throughout the years, HDB’s continuous innovation and upgrading programmes have ensured that public housing estates and towns remain vibrant and cherished homes for Singaporeans. For more information on HDB, visit the HDB InfoWEB at www.hdb.gov.sg.
JTC is the government agency championing sustainable industrial development. Together with our partners, we masterplan clean, green and smart estates as attractive destinations for talent and the community. We also drive innovation in the Building and Infrastructure sector.
For more information on JTC, visit www.jtc.gov.sg
About the Maritime and Port Authority of Singapore (MPA)
The Maritime and Port Authority of Singapore (MPA) was established on 2 February 1996, with the mission to develop Singapore as a premier global hub port and international maritime centre (IMC), and to advance and safeguard Singapore's strategic maritime interests. MPA is the driving force behind Singapore's port and maritime development, taking on the roles of Port Authority, Port Regulator, Port Planner, IMC Champion, and National Maritime Representative. MPA partners the industry and other agencies to enhance safety, security and environmental protection in our port waters, facilitate port operations and growth, expand the cluster of maritime ancillary services, and promote maritime R&D and manpower development.
For more information, please visit www.mpa.gov.sg
About Infocomm Media Development Authority (IMDA)
The Infocomm Media Development Authority (IMDA) leads Singapore’s digital transformation with infocomm media. To do this, IMDA will develop a dynamic digital economy and a cohesive digital society, driven by an exceptional infocomm media (ICM) ecosystem – by developing talent, strengthening business capabilities, and enhancing Singapore's ICM infrastructure. IMDA also regulates the telecommunications and media sectors to safeguard consumer interests while fostering a pro-business environment, and enhances Singapore’s data protection regime through the Personal Data Protection Commission.
For more news and information, visit www.imda.gov.sg or follow IMDA on LinkedIn (@IMDA), Facebook (@IMDAsg) and Instagram (@IMDAsg).
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