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If you aren’t already, now might be a good time to consider adopting eInvoicing as the government plans to invest $23.3 million to help small businesses adapt.
eInvoicing is a standardised way to send and receive invoices via a secure network using existing small business accounting software.
The hope is that this technology can help reduce the likelihood of invoicing scams.
“Small businesses have been particularly vulnerable to invoice substitution scams – also called payment redirection scams or business email compromise – where nefarious cyber criminals get into their computer system and intercept emails to customers and insert different bank account details for payment,” said Australian Small Business and Family Enterprise Ombudsman Bruce Billson.
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