The New South Wales government has launched a centralised hub to support more than 20,000 SMEs with a platform to submit and review the status of electronic invoices.
The Supplier Hub Invoicing Portal is a source of information for all invoicing, streamlining the way that SMEs engage with ‘e-invoicing enabled agencies’. The portal has been enabled across 42 of the state’s agencies that are part of the government clusters, including Customer Service, Premier and Cabinet, Treasury and Stronger Communities & Justice.
Victor Dominello, Minister for Digital and Customer Service, issued a statement on Monday describing the portal as an important initiative towards the government’s 2022 e-invoicing mandate.
Dominello said the hub would save suppliers time in their dealings with the government, and put customers at the centre of all invoicing processes.
Get daily business news.
The latest stories, funding information, and expert advice. Free to sign up.
“This is a one-stop shop for suppliers to register to sell to NSW Government, update their information, view opportunities and share procurement-related information,” Minister Dominello said.
“The hub will save suppliers time and money by reducing payment times, paperwork, and manual errors.”
According to Finance and Small Business Minister Damien Tudehope, cutting red tape is a key objective of the supplier hub.
Those businesses without accounting software but who do have a Supplier Hub account can use the portal to send invoices to the 42 connected agencies, he explained.
“Cash flow is one of the most important issues for businesses and often it can take time to receive payment,” Tudehope said.
“This portal will facilitate faster and on time payments to businesses to cut down on unnecessary stress for those who just want to get on with the job.”
Based on data gathered on NSW government’s 4.2 million invoices in 2019, the hub will deliver government and suppliers a shared estimated saving of $71 million in invoice processing costs.
All NSW government agencies will be expected to connect to the Supplier Hub by January 1, 2022.
This article was first published by The Mandarin.