Australian Office of Financial Management select Link4 for e-Invoicing
The Australian Office of Financial Management (AOFM) has announced Link4 as their chosen PEPPOL Access Point provider ahead of the ATO’s June 2021 mandate. The AOFM will join The Department of Treasury and the Department of Industry, Science, Energy and Resources along with other Federal Government agencies who have also selected Link4 to address their e-Invoicing requirements.
“It’s great to see the AOFM putting e-Invoicing in place,” says Robin Sands, CEO at Link4. “At a time when we need to support businesses and job growth, decisions like this will have a positive impact for us all.”
Many people feel that sending an invoice via email is the safest and most efficient way to do business. But those who have been affected by scams know that emails are a weak point in the process.
In 2020 alone, payment redirection scams cost Australian businesses around $14 million, and this figure is on track to be five times higher in 2021. Along with significantly reducing the likeliness of invoice fraud, e-Invoicing has major cost savings and benefits for businesses. Suppliers sending invoices via the PEPPOL network to the AOFM will be able to receive payment within 5 business days.
“Any improvement to cash flow is important for business owners,” noted Sands. “The cash flow benefits e-Invoicing brings will make life easier for businesses to thrive and grow, which will provide positive support for the economy as we move forward.”