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Singapore Mandates Nationwide e-Invoicing

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Singaporean Infocomm Media Development Authority (IMDA) has implemented the nationwide E-Invoicing framework with the Singaporean industry since the beginning of this year.

Basware, the global leader in networked source-to-pay solutions, e-invoicing and innovative financing services, has been engaged with the Singapore IMDA since early 2018 and is a leading provider in PEPPOL adoption across the region. The company has been approved by IMDA and is fully operational as a certified access point. It means that Basware’s customers and their suppliers can conduct e-invoicing in accordance with defined and required formats.

It is anticipated that the work in Singapore will become a benchmark for other markets in APAC, including Australia and New Zealand. Basware is heavily involved as the first provider in implementing PEPPOL in these markets.

“Basware is at the forefront of ensuring compliance with e-invoice frameworks such as PEPPOL all over the world. The adoption of structured e-invoicing frameworks is a necessary component for more efficient commerce,” says Michael Pyliotis, Vice President for APAC at Basware.

“Our solutions and services help businesses improve efficiency, reduce cost, enjoy faster payment cycles, access to new financing options and build a strong foundation for digitalization,“ he continues.

To find out more about how to prepare for PEPPOL in Australia and New Zealand by joining the Basware Network read this blog post.