Link4’s e-invoicing live with Australian Treasury as company wins additional government contracts

Australian fintech Link4 will enable the Australian Department of Treasury to accept e-invoices from today, reducing labour associated with invoice payments and accelerating payment timelines for suppliers.

Link4’s technology will result in Treasury paying invoices within five days.

According to the Australian Small Business and Family Enterprise Ombudsman, e-invoices have the potential to produce a $28 billion economic benefit over the next decade. A traditional paper invoice costs more than $30 to process, while a pdf invoice costs nearly $28. E-invoices are less than $10 to process.

Link4 won the Australian Treasury contract after a competitive tender where it was selected above global software giants. The company has been operating since 2016 and is an established leader in the e-invoicing space, serving thousands of businesses in seven markets.

Link4 CEO Robin Sands said Treasury’s adoption of e-invoicing would be mutually beneficial for Treasury and its suppliers, including Australian SMEs.

“We are thrilled to be the e-invoicing partner for multiple departments and agencies of the national government,” Mr Sands said.

“The selection of Link4 in a competitive tender process speaks to the strength of our service, and our ability to integrate seamlessly with the TechnologyOne system that these departments use.

“It also highlights the importance of supporting Australian innovation in public sector procurement processes.”

The October Federal Budget set aside $3.6 million for e-invoicing across government departments and agencies, with 80 percent of invoices to be electronic by July 2021 and e-invoicing becoming mandatory by 2022.

Link4 is an approved PEPPOL provider and has been listed on the Federal Government’s panel of PEPPOL suppliers.