InvoiceNow is the nation-wide electronic invoicing (e-invoicing) initiative from the Infocomm Media Development Authority (IMDA).
With this service, InvoiceNow automatically sends your invoice to a buyer’s accounting system via a secure network.
As long as both the sender and receiver are using InvoiceNow-ready software (such as Banqup), e-invoices can be exchanged seamlessly and almost instantly contrary to sending a PDF file or online invoice through email.
InvoiceNow is part of the global Peppol network. Peppol is used in over 30 countries worldwide including Singapore, Australia, Japan and New Zealand.
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Every company that registers on InvoiceNow receives a Peppol ID to which the business partners can send their invoices. All companies with a Peppol ID can be found in the Singapore Peppol Directory via the following link: https://www.peppoldirectory.sg/. Nice to know is that Banqup automatically recognizes, based on the UEN number, if a company is part of the InvoiceNow network and will propose InvoiceNow as a preferred delivery channel.
Companies who wants to be part of the InvoiceNow network needs to do a CorpPass verification. While creating an account on Banqup, the system will guide you in this process.
Banqup is a fully compliant InvoiceNow solution. Learn more about how to send InvoiceNow e-invoices in the following article.
Download our InvoiceNow guide: