SME Digitization in Australia

Digital transformation solutions developed for SME Digitization in Australia increase the profits of SMEs and save time. Within the scope of Digital Economy Strategy, financial support is given to businesses by government. 

In this context, 

– $12.7 million to approximately seventeen thousand small businesses to help them develop digital transformation solutions, 

– $15.3 million to help businesses reduce costs and increase productivity and to explain the importance of eInvoicing investment has been made. 

These investments build on the Australian government’s nearly $800 million investment in the Plan. Besides, The Digital Business-to-Business (B2B) Partnerships Initiative has also been established in Australia to promote the adoption, use, and access to digital products and services. 

Expanding and Developing the Digital Solutions Program 

With the Digital Solutions Program, more small businesses will operate in a digital economy. Thanks to digitalization, small businesses are positively affected and their long-term productivity increases. Ultimately, digitization will also help businesses protect against cybersecurity threats. In the other leg of the program, it is aimed to develop digital solutions for non-profit institutions and organizations. 

Towards 2030: Digitalization 

The government has mandated eInvoicing for government agencies by July 2022 to increase digitization in the public sector. Public sector also continues to work with states and territories to expand adoption of eInvoicing. 

Investments made to raise awareness and adopt. E-invoicing in businesses will yield results in the short and medium term. Australian enterprises issue purchase invoices of more than 1.2 billion each year. Considering that eInvoicing provides cost savings of up to $20 per invoice, approximately $25 billion in savings. 

Studies carried out to adapt SMEs to digitalization: 

– To make eInvoicing compatible with the payment methods used to help enterprises get paid faster. 

– To carry out training activities to increase enterprise awareness 

– Establishing supply chain pilots with large enterprises to align their supply chains.