KeiL - Kollect e-invoicing SoLution

KeiL is designed to seamlessly integrate with your existing finance systems to enable the transmission and receipt of electronic finance documents from your partners and stakeholders in supply chain. Further, it elegantly encompasses the seamless interface with the Inland Revenue Board Malaysia for the validation of finance documents under Malaysia's e-Invoicing initiative.

e-Invoicing transferred into electronic

KeiL significantly enhances efficiency by automating the invoicing process, reducing manual errors and saving valuable time.

Kollect’s e-Invoicing solution, KeiL, offers an elegant solution to help organizations in Malaysia to supplement their finance, technical and legal requirements with a dynamic and robust platform.

KeiL is designed to seamlessly integrate with your existing finance systems, without requiring you to make any structural changes to the existing systems, while enabling you to send and receive the said electronic documents from your partners and stakeholders.

Leveraging our expertise in Invoices, Banking, Credit Cards, Telco and Utilities, Kollect specializes in making your transition to e-Invoicing smooth and efficient. Our team will work with your teams to collaborate in this implementation journey, ensuring minimal disruption to your operations, while keeping a laser focus on the end target.

Leverage Kollect's platforms for e-Invoice readiness

KeiL Benefits

Kollect’s deep expertise in the Invoice to Cash (I2C), Payments, Collections, Debt Recovery and Legal automation ensures that the transition to e-Invoicing is executed properly. Fully aware of all local technical and legal regulations of e-Invoicing in Malaysia, Kollect helps companies to process e-Invoices to comply with all statutory specifications, without disrupting internal operations of businesses

Compliance Assured

Kollect’s e-Invoicing solution, KeiL, is compliant with the regulatory requirements set by IRBM as well as Pan-European Public Procurement On-Line (PEPPOL) compliant.

Enhanced Efficiency

Automation eliminates manual errors, reduces processing time and increases overall efficiency. By streamlining your process workflows, you can focus on your core business activities and drive growth.

Seamless Integration

Kollect’s solution, KeiL, integrates with existing financial and non-financial systems, such as ERPs, Billing, Core Banking, Cards, etc. to ensure a smooth transition without disrupting your current operations. Once information is received from your system, Kollect will process it and send it to IRBM for its validation via QR codes using the SDK / API interfacing approach.

Real-time Visiblity

KeiL provides real-time visibility into the entire invoicing process, enabling you to easily track invoices, monitor payment statuses and gain valuable insights. You can make informed business decisions and improve cashflow management with comprehensive visibility

Basic plan

Ideal for small teams and startups.
Billed monthly.
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Access to all basic features
Basic reporting and analytics
Up to 10 individual users
20GB individual data each user
Basic chat and email support

Business plan

Growing teams up to 20 users.
Billed monthly.
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200+ integrations
Advanced reporting and analytics
Up to 20 individual users
40GB individual data each user
Priority chat and email support

Enterprise plan

Large teams with unlimited users.
Billed monthly.
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Advanced custom fields
Audit log and data history
Unlimited individual users
Unlimited individual data
Personalised+priotity service

KeiL's Capabilities & Modules

Summary of e-invoice submission and validation
Buyers & Supplier
List of Buyers (Customers) details
e-invoicing Monitoring
Track and monitor all e-invoice statuses
Notification & Workflow
Summary of e-invoice submission and validation
Parameter settings of internal and LHDN classifications
Aggregation and Analysis of information

e-invoicing Implementation Timeline

e-Invoicing implementation timeline
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Roadmap to successful KeiL Rollout

  • Establish and finalize the Data Sources and data elements required from various sources to ensure Compliance
  • Aggregate data from multiple systems and sources
  • Undertake extraction, transportation, transformation and loading (ETTL)
  • Configure and implement KeiL platform on chosen servers
  • Execute comprehensive testing cycle
  • Test and Roll out KeiL. Train the Internal Teams
  • Go Live. Track and Monitor e-invoices submitted to and processed by LHDN
  • Establish e-Invoicing Support team internally to provide systems support and incident management

e-invoicing Workflow with KeiL

How Can Kollect Assist You?

With Kollect's e-invoicing capabilities, you can automate and optimize your invoicing workflow. This not only saves time but also ensures consistency in the way financial information is collected and processed

What is e-invoicing?

e-Invoice is a digital approach to invoicing that streamlines the creation, submission, validation, and archiving of invoices electronically. e-Invoicing replaces paper or softcopy documents such as invoices, credit notes and debit notes with an electronically generated document that can be viewed as an electronic document online or downloaded in a pdf format. An e-Invoice contains the same essential information as a traditional document, for example, supplier's and buyer's details, item description, quantity, price excluding tax, tax and total amount, which records data for daily business operations.

e-invoicing in Malaysia

As Malaysia introduces e-Invoicing in 2024, businesses need to prepare for this significant shift in their invoicing paradigm. The lead agency for e-Invoicing in Malaysia is the tax body itself called Inland Revenue Board Malaysia (“IRBM”). The objective of Malaysia's e-Invoicing mandate is to optimise invoicing procedures, increase compliance to regulations and improve overall operational efficiency within the corporate sector. e-Invoicing promises increased efficiency, transparency and compliance in the world of taxation, ultimately benefitting businesses and the nation's economy.

Malaysian businesses will be required to comply with the e-Invoicing guidelines set by IRBM and to be continuously alert of any statutory changes and key implementation dates to ensure smooth change management transition. Active collaboration with a software automation solution provider, like Kollect Systems, will provide continuous process improvements and help achieve compliance.

The Processes Before e-invoicing

Invoice statement gen 1
Invoice statement gen 2

New Approach of LHDN's Statutory e-invoicing (Gen 3)

Generation three of LHDN's Statutory e-Invoicing

How to submit
e-invoices in Malaysia?

Once an invoice is submitted, IRBM will assign a unique identifier and QR code to each document as part of its validation framework. Both the sender (supplier) and the recipient (Buyer) will receive notification from IRBM upon successful validation. Subsequently, the Supplier must deliver the validated document to the buyer through their chosen channels.

Manually via the MyInvois portal

Businesses can manually submit their invoices through the MyInvois portal provided by the IRBM. The business staff have to key in each invoice detail into the portal

Automatically via API in XML or JSON format

Businesses can choose to submit invoices automatically via API in either XML or JSON data formats for a better automated process. This approach provides efficiency and reduces manual intervention
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KeiL's Key Capabilities & Modules

e-invoicing Workflow

IRBM is taking a proactive approach to e-Invoicing by creating a centralised platform where all e-Invoices must be submitted for Registration and Validation to the IRBM software platform. This target of that platform is to ensure the accuracy and compliance of invoice submissions, making the taxation process more transparent and efficient.

In 2023, IRBM issued updated guidelines regarding the phased implementation of e-Invoicing for specific taxpayers. These guidelines include the following:
LHDN's e-Invoicing workflow

How Can Kollect Assist You?

With Kollect's e-invoicing capabilities, you can automate and optimize your invoicing workflow. This not only saves time but also ensures consistency in the way financial information is collected and processed

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Kollect Systems is an innovative tech platform provider with BankTech and FinTech software solutions which leverage AI based decisioning and workflow technologies to help lenders perform Debt Collections & Recovery (BankTech) processes effectively and for mid-size to large scale enterprise companies (FinTech), to automate Receivables, e-Invoicing & Payments better. Kollect Decube is an online platform to manage Data governance, compliance, lineage, data catalog and data observability for managing the Data Assets of an organization.