Who is behind LUCA+?
Luca+ is an Australian company based in Southbank, Melbourne. We are accredited by the PEPPOL and the Australian Taxation Office (ATO). We are a team of accountants and technologists who are passionate about e-Invoicing. There are already 1,000 other local Australian SME’s on the Luca+ network, and we have received many accolades:
- 2019 ‘Accountancy Software of the Year’ Finalist
- Member of Melbourne Accelerator (Australia’s leading start up program)
- 2020 Global Finalist for the Jumpstarter Pitch Competition
What is e-invoicing? Why is it important?
From the ATO website: “Paper and email based invoicing is manually intensive and prone to human error. Electronic invoicing (or e-Invoicing) is the direct, electronic exchange of invoices between suppliers’ and buyers’ financial systems.”
So e-Invoicing is NOT just an email or PDF invoice. Imagine your accounting system can ‘talk to’ the accounting system of your clients and suppliers. Now imagine those communications are automatic and encrypted, and you’re getting close to understanding e-Invoicing. It’s a payments & billing revolution!
It’s important because it saves your businesses time and money. According to estimates by Deloitte it could result in benefits to the Australian economy of $28 billion over ten years.
What does LUCA+ do that my accoun-
ting software can’t?
Luca+ creates a ‘live’ link between your accounting software and that of your clients and suppliers. It essentially creates a new ‘network’ which functions as an automated communication channel between payer and payee. This means you can better track progress of payments owed to you, and that your invoices get paid much faster. Which is a big help for managing your cash-flow!
What data does LUCA+ see when I con-
nect MYOB or Xero？
Luca+ only uses the payments and invoicing data already in your accounting platform. It does not, for instance, access balance sheet, or profit and loss data. By syncing your accounts receivable and accounts payable data, Luca+ is able to create the ‘live’ encrypted data link between you and your debtors and creditors. It’s what creates all the magic of the Luca+ system.
(It’s important to note that Luca+ is an authorised partner of both Xero or MYOB, and that such technology partners must undergo the highest level of scrutiny).
‘’It’s amazing how LUCA+ e-Invoicing system can help out Fintech start-ups like us. It makes it so easy for us to manage bills sent from freelancers and contractors. Bookkeeping can be done in seconds.’’
We are an Australian software developer specialising in “Fin tech” solutions that solve the common financial problems affecting good local businesses.
We help small business ease cash flow and avoid fraud, so they can eliminate financial stress and grow faster.
We are brave financial and technology innovators, who dream big. We collaborate and persevere to solve the real problems affecting entrepreneurs. We are serious about data security, so that we can follow our passion of supporting small business in their quest for growth.
256-bit AES encryption and use an SSL/TLS secure tunnel to transfer data.
Luca+ uses blockchain to securely create an audit trail of the entire invoice lifecycle.
Continuous monitoring, vulnerability assessment and intrusion detection to detect threats and keep our system safe and secure.
Two-factor authentication and strong password controls required for access.