InvoiceNow with Banqup

Banqup

Grow your business with InvoiceNow

In 2019, the government digitization agency, Infocomm Media Development Authority (IMDA), launched a nationwide e-invoicing initiative, InvoiceNow.

Thanks to InvoiceNow, companies can easily exchange electronic invoices in a structured format with more than 50,000 users in Singapore that are connected to the global Peppol network for e-invoicing.

Banqup is the Peppol-Ready Solution Provider that is helping your company simplify the administrative process.

Activate your Banqup

Receive $200
when you send 10 e-invoices with Banqup!

Did you know?

IMDA launched the InvoiceNow Transaction Bonus (ITB) on November 1st, 2022 to encourage enterprises that joined InvoiceNow to start transacting more e-invoices with their customers and suppliers on the network.

 InvoiceNow Transaction Bonus (ITB) is a $200 bonus for all businesses on the network who send 10 e-invoices using InvoiceNow in a 12-month period.


4 STEPS to receive the InvoiceNow Transaction Bonus

 

STEP 1

Register at the form: https://go.gov.sg/register-itb

STEP 2

Send first E-Invoice to receive $50

STEP 3

Send remaining 9 E-Invoices to receive another $150

STEP 4

Receive your bonus directly through PayNow Corporate

Find out more about ITB

What is InvoiceNow?

InvoiceNow is a nationwide E-invoicing method operating on the PEPPOL network that facilitates the direct delivery of invoices in a structured digital format across various finance systems.

In Singapore’s context, the Infocomm Media Development Authority (IMDA) has implemented the Pan-European Public Procurement On-Line (PEPPOL) E-invoicing standard. Simply put, this international standard generates invoices that contains structured data and allows businesses to exchange documents and data with anyone else registered as part of the network.

The result?

Your invoice arrives in a format that’s immediately ready to be processed for payment, which:

  • Save time not manually adding any details all over again
  • Eliminates invoices using paper to reduce cost and stay green
  • Help with faster payment cycles and facilitate a smoother business operation

Benefits of e-invoicing for Singaporean businesses

Fast payment process

Create and deliver an e-invoice to your recipient's system in a few minutes, reducing the time required for payment and thus improving cash flow.

Reduced costs

Save a substantial amount of time and money by eliminating paper from your invoicing procedures, by automating the invoicing process.

Improved business efficiency

Automated invoicing processes reduces human error and time, at the same time increases accuracy compared to paper invoice.

Supported by

Invoice Now