Understanding Singapore’s Nationwide E-Invoicing Initiative: What Businesses Need to Know

Jun 23

2 min read

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In support of Singapore’s digitalisation push, the government is encouraging businesses to adopt e-Invoicing—a secure, automated way to send and receive invoices. This initiative is part of InvoiceNow, Singapore’s nationwide e-Invoicing network based on the international Peppol standard.

If you run a business in Singapore, here’s what you need to know about e-Invoicing and how it can benefit your operations.

What is e-Invoicing?

e-Invoicing is the direct exchange of invoice data between accounting systems using a secure digital network. Unlike traditional PDF or paper invoices, an e-Invoice is sent electronically from one system to another, eliminating the need for manual data entry.

Singapore’s e-Invoicing network—InvoiceNow—is managed by the Infocomm Media Development Authority (IMDA) and connects local businesses through a global standard.

Benefits of Adopting e-Invoicing

Faster Payment Cycles: Invoices sent via InvoiceNow are received instantly and processed more efficiently, reducing payment delays.
Fewer Errors: With no need for manual entry, e-Invoicing greatly reduces the risk of human errors such as incorrect amounts or missing information.
Lower Administrative Costs: By automating the invoicing process, businesses save time, reduce paperwork, and cut down on admin costs.
Cross-Border Compatibility: InvoiceNow uses the Peppol framework, which is recognised in many countries. Businesses can send e-Invoices to international partners who are also on the Peppol network.
Access to Government Support: Businesses adopting InvoiceNow may be eligible for digitalisation grants, such as the Productivity Solutions Grant (PSG), which helps reduce implementation costs. (Note: we are one of the PSG vendor!)

How to Get Started with e-Invoicing

To join the InvoiceNow network:

Use an accounting or invoicing software that is Peppol-ready, such as Xero, QuickBooks, or others.
Register on the Peppol network through your software provider or an approved Access Point provider.

Once connected, your business will be able to send and receive e-Invoices directly through your accounting system.

Why Businesses Should Take Action Now

As Singapore moves toward a fully digital economy, early adoption of e-Invoicing can give businesses a competitive edge. It enhances operational efficiency, ensures compliance, and improves cash flow—all critical factors in today’s business environment.