InvoiceNow is a nationwide E-invoicing initiative that facilitates the direct transmission of invoices in a structured digital format across finance systems. Operating on the open standard Peppol network, this new standard of invoicing will help both Small and Medium Enterprises (SMEs) and Large Enterprises (LEs) enjoy smoother Invoicing, faster payments and a better way to save the environment.

To accelerate adoption so that businesses on the network can get more benefits, IMDA has introduced the following incentives listed below. These are effective from 1 November 2022 to 31 October 2024 or when the grant funds are fully disbursed, whichever is earlier.



1  |  InvoiceNow Transaction Bonus (ITB)

Receive $200 when you send 10 e-invoices within a year. 

Eligibility criteria:
  • Applicable to businesses who have valid and active business UENs excluding the entity types listed below.
  • Businesses who send a total of 10 e-invoices on the network within 12 months from the 1st e-invoice will receive a bonus payout of $200.
    • Send 1st e-invoice: receive $50;
    • Send remaining 9 e-invoices: receive another $150

Open New Tab- FAQs for InvoiceNow Transaction Bonus

LEAD Connect Transact Grant- Receive Up to 70,000 SGD when you connect your system and transact on InvoiceNow


2  |  LEAD Connect Grant

For large enterprises with their own finance/ ERP solution, connect your system to the  InvoiceNow network and receive a $30k fixed grant

Eligibility criteria:
  • Applicable to enterprises who have valid and active business UENs excluding the entity types listed below.
  • Enterprises who complete integration to the InvoiceNow network with their own finance/ERP solution within 12 months from the start of the work will qualify for the grant.
    • Entity has a minimum of 200 business counterparties (aggregate of suppliers and customers).
    • Entity has its own ERP/finance solution which requires to connect to the InvoiceNow network with the help of Access Point providers.
    • The start of the work should be after 1 November 2022.

3  |  LEAD Transact Grant

Up to $40k grant applicable to large enterprises who meet the minimum number of transacting business partners on the InvoiceNow network.

Eligibility criteria:
  • Applicable to enterprises who have valid and active business UENs excluding the entity types listed below.
  • Enterprises who are able to meet the minimum transaction tier, (i.e. transacting with 25 UENs as buyer and/or 250 UENs as biller).
  • Enterprise can receive incentives as both Buyer and Biller.
  • Funding period is 12 months starting from the first claim submission by the enterprise. The starting dates for the enterprise as Buyer and Biller can be different.
  • Billers receiving LEAD Transact Grant will not be eligible for InvoiceNow Transaction Bonus.




Advantages of E-invoicing 

Advantage of E invoicing includes Improved efficiency, Reduce Cost, Green Friendly, Transact Internationally


E-invoicing vs Online invoicing

It is important to note that E-invoicing is not the same as online invoicing. 

Online invoicing, in most current business scenarios, refers to either a scanned copy of the invoice or a PDF file sent to the recipient organisation via email. The process relies on manual data entry as your recipient will have to re-enter the details of the invoice into his own accounting system (e.g. accounts payable). Similarly, you may be receiving many online invoices in the form of PDFs – you will also need to have someone manually input the invoice details or scan the pages of invoices into your system.

E-invoicing on the other hand is an invoice created digitally in a supplier’s financial system, transmitted electronically through the PEPPOL network to the recipient (buyer) where it is processed automatically without any human intervention. For example, E-invoices received in a PEPPOL-ready accounting solution can appear as draft bills automatically without any manual data entry.


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