Cheras, 8 December 2023 – In a bid to usher in the future of business transactions, UCSI University played host to a comprehensive e-Invoicing Seminar on December 8, 2023. The event, organized by iPay88 with Moby as partner, saw active participation from industry leaders, with Deloitte, Wezmart, and Syntax Technologies contributing as participating speakers.
A notable turnout of 317 attendees, representing 304 local companies and organizations, marked the success of the seminar. This seminar was also attended by special guests, including the Co-Founder and Chief Sales Officer of iPay88 Mr. Chan Kok Long, the Director of National e-Invoicing & Standardisation Mr. Saiful Izwan, and the Head of the National e-Invoicing Project Office, Mrs. Nadra Liyana Abdul Malek from Malaysia Digital Economy Corporation (MDEC).
The focal point of the discussions revolved around the theme, “e-Invoicing: Essential Insights and Practical Tips for Businesses,” providing a deep dive into the intricacies of e-invoicing and tax, which was tabled during the Budget 2024 speech by Prime Minister Dato’ Seri Anwar Ibrahim on October 2023.
The seminar unfolded with an introduction session on the fundamental aspects of e-invoicing by speaker Mohd Fariz, Executive Director of Deloitte Tax Consultancy. Participants delve together into the ‘why’ of e-invoicing and outline its impending introduction and its far-reaching implications for businesses, tax, and law. The session shed light on the spectrum of stakeholders involved, such as Malaysia Digital Economy Corporation (MDEC) and Lembaga Hasil Dalam Negeri (LHDN), offering a comprehensive understanding of the collaborative efforts required for a seamless transition and digitalization.
Other notable speakers and participating partners brought their expertise to the table. IPay88, as the organizing force, brought its wealth of experience in the digital payment space from Johnny Chong, Head of Partnership & SME Sales, and highlighted the importance of digital payment in businesses. John Tan, Head of Insurance at Moby, also added his unique perspectives to the discussions and presentation.
A highlight of the seminar was the in-depth exploration of the technical implementation by Bryan Cheong, SQL Accounting Software and SQL Payroll Software Sifu. As the audience was informed that the shift towards e-invoicing is slated for July 1, 2025, other technical information was also laid out to ensure the participants’ understanding and readiness for the e-invoicing impact on their business. This crucial information provided attendees with a clear roadmap for preparation, ensuring a smooth transition and digitalization for businesses across various sectors.
The diverse range of participants, hailing from various industries, contributed to a rich exchange of ideas, processes, and technical implementation of e-invoicing. Additionally, the seminar also provided a platform for networking, allowing attendees to connect with like-minded professionals and build valuable partnerships.
As the curtain fell on the E-Invoicing Seminar, participants were left armed with essential insights and practical tips to navigate the forthcoming changes. The event served as a stepping stone for businesses to embrace the future of invoicing, fostering a collaborative spirit among industry players.
This seminar is a perfect introduction and platform for all business owners and professionals to understand and prepare for the e-Invoicing wave. There are lots of differences from what we may think we understand about this, but in reality, it’s a new thing. This will change how we do business in less than 3 years!
The success of this seminar underscores the industry’s readiness to adapt to the digital revolution, setting the stage for a new era in business transactions. With the support of key players and the active engagement of businesses, the transition to e-invoicing promises to be not just a necessity but an opportunity for growth and efficiency in the evolving business landscape.
