On 23rd September 2020, the InfoComm Media Development Authority (“IMDA”) announced the launch of InvoiceNow to help businesses improve efficiency, reduce cost, receive payment faster and reduce our impact on the environment by using less paper invoices.
InvoiceNow and PayNow Corporate both make use of the Unique Entity Number (“UEN”) to help businesses send and/or receive invoices and collect payments easily.
By registering for both services, every business and their partner organisations can truly harness the efficiency and productivity in digitalisation as they exchange invoices seamlessly, directly between their finance systems.