The Payment Times Reporting Act to be unpacked at ProcureTECH2022
The new Payment Times Reporting Act 2020, e-invoicing and a showcase of the latest procurement technology are just some of the highlights of PASA’s 2022 ProcureTECH conference.
ProcureTECH, May 11 and 12, is this region’s only large scale independent event specifically focussed on eProcurement technologies that directly enable and assist the procurement function.
PASA CEO Jonathan Dutton said the 2022 programme would address key challenges procurement teams are facing when making the business case, selecting and implementing the right technology solutions.
“Adoption of the right technologies has long been recognised as one of the three key pillars for building procurement capability – the others being ‘people’ and ‘process’,” Jonathan said.
“By attending ProcureTECH procurement professionals will not only have the chance to explore what new technologies and innovations are now available, and what they can do for you, but also accelerate understanding of the key issues in 2022 and beyond.”
Jonathan said ProcureTECH would unpack the challenges procurement teams are grappling with in regard to the challenges of ‘going digital’.
“The strategic drivers for this are many, from the desire to streamline processes and drive efficiencies, to better serve end users, to capture better data, to drive greater compliance, to free up procurement time to work more strategically or simply to buy better,” he said.
He said the Covid pandemic has also become a driver to “go digital” in itself. “The fiscal response to COVID has also driven changing needs from eProcurement technology,” Jonathan said.
The latest on navigating the Payment Times Reporting Act
The new Payment Times Reporting Act 2020, introduced last year, demands agility from large organisations P2P systems and is a hot topic on the ProcureTECH agenda.
The Act was introduced to help small businesses understand payment terms being offered by large businesses and government.
It requires entities to register and report payment terms which can be scrutinised by small Australian businesses. Reporting must be undertaken every six months and penalties apply for breaches of the act, including a “name and shame” register for companies which don’t comply.
The big push for e-invoicing driven by the ATO encourages buyers and sellers to move online for greater benefits. E-invoicing featured in a sweeping $1.2 billion Federal Government package announced in 2021 to drive Australia as a modern and leading digital economy by 2030.
As part of this push, the Australian Peppol E-Invoicing Authority was last year provided with with $15.3 million to improve business e-invoicing awareness and adoption, Accountants Daily reported.
Read our article about E-Invoicing.
“This ProcureTECH programme will cover all aspects of this agenda as well as relevant contributions on topics close to eProcurement project managers’ needs from Spend Matters (direct from the US), Gartner, Deloitte, KPMG, ArcBlue, the Australian Tax Office (ATO) and many others,” Jonathan said.
Buyers can attend ProcureTECH for free.
The event is hosted live via PASA’s REMO virtual conferencing platform.
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