7/24/2023 0 Comments Electronic invoicing systemUpon receiving the e-invoice, corner 3 will map the e-invoice into the preferred format of the buyer (corner 4). The global directory will provide the necessary information to corner 2 to identify the receiving Access Point (corner 3) for the e-invoice to be sent through the network. Regardless of invoice format, documents that are sent out by the seller (corner 1) will be converted into the common standard at its Access Point (corner 2). In a transaction, the seller’s objective is to successfully send an invoice to the accounting/ERP system of the buyer. The Peppol network works based on a principle of a 4-corner model., illustrated above. Access Points take up the responsibility of mapping invoices of various formats into the standard format and sending them to the receiving Access Points through the Peppol network. Documents are exchanged through Access Points, which serve as gateways into the Peppol network. This common standard allows users to choose their preferred accounting and ERP platforms while being able to exchange invoices with their partners who may not be using the same platform. In the Peppol network, documents are exchanged using a common XML format known as the BIS (Business Interoperability Specifications) Billing 3.0 UBL. This greatly reduces the time spent verifying invoices and chasing for payment. The Nationwide E-Invoicing Network adopts the Peppol framework which allows direct transmission of e-invoices from one finance system to another without human intervention, speeding up invoice processing which results in faster digital payment. In Singapore today, most companies (sellers) issue invoices by extracting the data from their accounting/ERP systems and formatting it in human-readable form and sending it to the buyers via paper or email.Īt the receiving end (buyer), manual effort is required to enter or scan the information into their systems which is a time-consuming and error-prone process. For more information on the SMP in Singapore, please visit. IMDA has adopted a centralised Service Metadata Publisher (SMP) model in Singapore and has appointed SGNIC as the SMP provider in Singapore. Promoting the adoption of Peppol framework in Singapore.Governing the compliance of the Peppol framework in Singapore and. ![]()
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