Photo by Malay Mail

The American Malaysian Chamber of Commerce (AmCham) is championing the establishment of a robust e-invoicing platform in Malaysia, foreseeing its ability to catalyze exponential growth in the economy and local businesses.

During the unveiling of the bi-annual Economic Impact Survey (EIS), AmCham highlighted e-invoicing as a critical component of business digitization, acknowledging the challenges many nations face in its adoption.

According to the chamber, one of the primary hurdles in e-invoicing implementation is ensuring comprehensive input to enable authorities to grasp the diverse business landscape in Malaysia.

Siobhan Das, CEO of AmCham, emphasised the intricacies of each business model, stressing the need for detailed information to ensure accuracy and transparency in reporting.

“Optimising e-invoicing capabilities can mitigate supply chain disruptions and delays, facilitating seamless integration into global systems. Our focus is on aiding the government in understanding these nuances to streamline processes and minimise business interruptions,” said Siobhan.

She outlined a top-down implementation strategy, with plans to extend support to small and medium-sized enterprises (SMEs). Recognizing the potential financial burden on smaller businesses, she emphasised the importance of a phased approach to adoption.

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