NHMRC partners with Link4 to combat fraud and improve payment times
The National Health and Medical Research Council (NHMRC) is now another government department that’s meeting Australia’s e-invoicing mandate. NHMRC selected Link4 as an Access Point provider due to its strong track record in working with government agencies.
“It is true the Government are mandated to do e-invoicing, but we have to remember why it is being put in place,” commented Robin Sands, CEO, Link4. “E-invoicing helps small business. It helps the economy. The more that do it, the better for Australia. We are happy to be supporting NHMRC with this service.”
In 2020, Australian businesses lost a total of $128 million to payment redirection scams. This figure is projected to be more than 5 times higher in 2021. Through business email compromise, scammers can intercept an invoice sent via email and change the invoice’s payment details without the purchaser knowing. NHMRC is now able to receive Peppol e-invoices directly into their ERP system, without the need for emailed PDF invoices – making the invoice process much more secure.
Along with enhanced security, businesses that adopt e-invoicing also increase their cash flow as they receive payments faster and spend significantly less money on processing costs. Suppliers connected to the Peppol network will be able to receive payment from government agencies (such as NHMRC) within 5 days.
“Link4 has been the most popular choice for Australian government departments ahead of the e-invoicing mandate. We are Access Point providers for The Treasury, DISER, APRA, AOFM and Geoscience Australia, to name a few,” notes Sands. “Our affordability, robust security and seamless onboarding processes is what makes Link4 a leader in our field. We were also able to quickly onboard NHMRC without interruption to their staff or processes.”
E-invoicing has become a high-profile digital service throughout Australia in 2020 and beyond. More than 100 agencies need to be Peppol e-invoicing compliant by 30 June 2022, with the Federal Budget including $15.3 million towards promoting e-invoicing adoption.
The deadline for this government mandate is fast approaching, and it is imperative that all federal departments prepare to be e-invoicing ready as soon as possible.
