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Industry News, Latest News, New South Wales, Professional Services

Invoicing made easier for NSW suppliers

The New South Wales Government is helping to develop a world-first construction assurance tool, using data to help the insurance industry access a residential apartment building’s quality and compliance with construction standards.

Small and medium businesses working with the New South Wales Government can now track invoices and get paid faster through a new Supplier Hub Invoicing Portal.

The portal, launched on Buy.NSW’s Supplier Hub, gives more than 20,000 suppliers a centralised source for all invoicing information.

Through it, suppliers can submit invoices to e-Invoicing enabled agencies and check the status of submitted invoices.

Digital and Customer Service Minister Victor Dominello said the portal is an important step leading up to next year’s e-Invoicing mandate.

“We are putting the customer at the centre of the process. The hub will save suppliers time and money by reducing payment times, paperwork, and manual errors,” Dominello said.

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“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.

“We want to reduce the amount of time businesses have to deal with the government, so they can instead focus on running their operations.”

Finance and Small Business Minister Damien Tudehope said the new portal would reduce red tape and make the invoicing process easier.

“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.”

The e-Invoicing service has been enabled across the 42 agencies that are part of the Customer Service, Premier and Cabinet, Treasury, and Stronger Communities & Justice clusters.

Businesses with a Supplier Hub account, and which do not use any accounting software, can use the Portal to quickly send their invoices to agencies that are enabled for e-Invoicing.

All State Government agencies will be expected to receive e-Invoices by 1 January 2022.

Based on the 4.2 million invoices across NSW Government in 2019, a shared saving between the suppliers and NSW Government is estimated to be $71 million.

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