Australia Post has announced its commitment to a new Business Council of Australia initiative that seeks to ensure payments to small businesses within 30 days through a voluntary payment code.

As well as improving small business cash flow, the code asks signatories to help suppliers improve their own invoicing and payment practices, provide clear information and guidance on their procedures, and offer effective dispute resolution.

"We welcome and support this initiative by the Business Council of Australia," said Rebecca Burrows, General Manager Small Business.

"Australia Post already has work actively underway to ensure all identified small business suppliers are paid within 30 days or better. In July 2017, all existing and new Australia Post vendors will be invited to register on a new supplier portal to access a new, streamlined invoicing and payments process and this will be just the first step towards future improvements," said Ms Burrows.

Australia Post also has a major project underway to implement a new, more streamlined payment system in 2018, positioning the organisation well to deliver on its commitment.

To find out more about the Australia Supplier Payment Code visit http://www.bca.com.au/policy-agenda/australian-supplier-payment-code

-ends-