Construction sector businesses leading eInvoicing growth

More than 50,000 Kiwi businesses are now choosing eInvoicing – and construction sector businesses are leading the way.

Over the past year, the number of construction businesses registering for eInvoicing has increased by an impressive 420 per cent, compared to an equally impressive 400 per cent increase across all sectors.

eInvoicing, the direct digital exchange of invoice information between a supplier’s and buyer’s systems, offers big benefits for businesses within the construction sector supply chain – all of which face cashflow issues. eInvoicing enables faster payment and improved cashflow among other benefits and can improve things for everyone in the supply chain.

What’s behind the growth?

Alongside increased registrations, the volume of eInvoices being sent and received by businesses has also surged in the last year, with more than 200,000 being exchanged to date. Government and large business support are key parts of this.

Minister for Small Business and Manufacturing Chris Penk recently described it as a game changer for small businesses in an announcement around the Government’s continued support as part of its plan to boost economic productivity.

Moving away from slow and administratively intensive paper and PDF invoices to eInvoicing could bring $400 million in annual productivity gains across New Zealand and make a real difference to providing stability for small businesses.

The Government also provided a strong message of confidence for businesses to adopt eInvoicing last year, announcing a new procurement rule that requires more government agencies to adopt eInvoicing and pay 95% of domestic trade eInvoices within five business days by January 2026.

So, businesses that trade with government can expect eInvoicing to become the norm and it makes sense to make the switch to be eInvoicing-capable to reap the benefits.

The accelerated growth is also being driven by increased support from large businesses across the hardware, telecommunications, retail, grocery and ICT sectors and more, who now prefer their customers to receive eInvoices from them.

Likewise, support from providers of business/accounting software is also behind the latest growth data with more than 55 eInvoicing ready software products available to their clients.

Making the switch

Making the switch to the secure digital technology of eInvoicing delivers benefits across the board.

From faster payments and improved security to reduced admin and greater accuracy, eInvoicing is a game-changer for business.

It has well and truly taken off and will soon be the new normal. For most businesses, getting set up only takes a few minutes and can lead to faster payment, reduced errors and delays, and better protection against invoice fraud.

Find out more

For more information on eInvoicing and how to get set up, visit einvoicing.govt.nz.