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What is InvoiceNow?

What is InvoiceNow?

InvoiceNow allows direct transmission of invoices in a structured digital format from one finance system to another using the Nationwide E-delivery network, which is based on Peppol , creating opportunities for automation.

As such, both SMEs and large enterprises can enjoy smoother invoicing and faster payments, with shorter invoicing processing time without any manual paperwork.

How do my company activate InvoiceNow?

Your company can activate InvoiceNow on any Peppol Ready solution which has been certified by IMDA.

Do my company and clients have to be registered in order to use InvoiceNow?

Yes, both parties have to be registered. If your client is not registered, it will then request for you to send the invoice to your customer via email.

You may check if your client is on the Peppol network here.

IMDA have launched an incentive of $200 bonus for all businesses on the network for sending 10 e-invoices on InvoiceNow.

Eligibility Criteria

  • Applicable to businesses who have valid and active business UENs excluding the entity types listed below

  • Businesses who send a total of 10 e-invoices on the network within 12 months from the 1st e-invoice will receive a bonus payout of $200 via Paynow

    • Send 1st e-invoice, receive $50

    • Send remaining 9 e-invoices: receive another $150

For more information, you may refer to this link.

Effective date for the InvoiceNow Transaction Bonus

It is effective from 1 November 2022 to 31 October 2024 or when the grant funds are fully disbursed, whichever is earlier.

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