PEPPOL Singapore
- Written by Anna Melnikova
According to many financial experts, more and more businesses are attracted to the perks offered by OpenPEPPOL when using their peppol services to conduct the electronic procurement.
If you are running a business in Singapore, sooner or later you will realize the real importance of adopting the peppol Singapore in your business procurement. Before going further, let’s see the meaning of it first.
What is actually a PEPPOL?
First things first, let’s agree that we are not talking about an operator here. PEPPOL is an effective form of the interoperability solution which provides the guidelines for the agencies and organizations to conduct the electronic procurements with their partners in certain standards. This set of standards need to be complied with to ensure the particular business documents’ consistency when arriving at the other ends.
Those who have been adapting to the peppol access point will have the ability to exchange the information, file, data, documents with the other PEPPOL-adopted systems as well. Not to mention that this procurement quality does not stick to the jurisdiction or the status of the business.
We know that back then the exclusiveness has prevented many businesses from having the chance to compete in the international market. But it is no longer the case anymore. Whether you are managing B2B business or B2G business, you can procure electronic documents without having to worry about borders blocks.
As long as you and the concerned parties are within the peppol network, you will be able to automate the process without the risks of errors or misunderstanding.
The reason is simple. You have adopted the peppol singapore. So, the other parties will understand really well because they have also used the same set of standards.
How to optimize e-procurement with Peppol?
To optimize electronic procurement like e-invoices, memos, billings, etc, you will want to work with the right peppol access point provider.
There are many providers out there who claim to be able to help you with the peppol services. But not all of them offer the same quality of services. Ones might offer affordable solutions but turn out to be poor in services. Some others might charge more expensively, but then they just provide a “so-so” quality of service.
Your chance will be much better if you focus your search only on reputable companies that have such extensive experience in the field. If that’s the criterion, Galaxy GW can make a great option for you.
Galaxy GW can help you to improve the invoicing processes and other procurements as per your needs.
One will need to integrate the solutions into the existing systems. More often, it can be a complicated process for those who are not really into tech. If that describes you a lot, you won’t need to worry. You could rely on Galaxy GW professionals to help you to connect to the particular peppol network. That way, you’ll be able to connect with your partners, governments, or other parties while saving a lot of money in the process.
OpenPEPPOL has significantly updated their PEOPLE so that it will be more prevalent to the international invoicing uses. It is not exaggerating to comprehend that it is no longer exclusive for European countries only. If you take a look at the official site of the provider, you will notice that 31 countries from Europe have already joined. But the rest numbers of the members are coming from other countries in other continents. One of them is Singapore.
Some businesses are struggling with the tax reporting and accounting models that work for them. It is because some of them are still stuck with the manual invoicing so that it would take a rigorous amount of work and time to fill the tax reports manually. But when you have integrated the e-invoicing solutions, you will be able to reap the true benefits of automated transaction systems.
These automatic systems can quickly provide accurate data which the public bodies and governments can use to collect the tax. The peppol singapore indeed has a huge positive role in this practice. This solution can add more value to the business solutions with simplified tax reporting and continuous transaction controls. The key to make it work is to ensure that all of the transactions are done with compliance to PEPPOL set of standards.
Which countries use Peppol?
In just 2 years after the international reach of OpenPeppol, there are more and more countries who adopt this set of specifications to help them simplify the e-procurement. Besides the 31 countries in the European areas, there are some countries in America, Asia, and Africa. That includes Singapore.
The Singapore government has stated the importance of the PEPPOL for improving the businesses competencies levels and productivity. The small country would need to have huge sources of income to stay stronger during the pandemic. Automating e-invoicing is one of the most effective ways to speed up the country’s earnings. It is time for local businesses, small to mid-sized businesses to rise and help the macro economy. Joining a peppol network is one of the best ways to make it happen.
Which companies are already connected to Peppol?
Before going further, let’s talk about the creator of this set of standards first. The name is OpenPeppol. It is a non-profit organization funded by European Commission and other involved countries to manage and maintain the existence of the Peppol.
They are working together to provide the best facilities for organizations to optimize their e-procurement and exchange of business documents.
OpenPeppol has its own regulations. But your country has its own right to decide to follow these regulations, or create its own Local Peppol Authority. Since the laws are different from one country to another, it is safe to assume that local Peppol authority is the one you’ll want to reach. Consider contacting the Galaxy GW representative to help you out.
