Australian and New Zealand governments are working together in a bid to set a trans-Tasman standard for electronic invoicing by governments and businesses, thereby ending most paper invoicing.

A just-published Australian Treasury discussion paper has outlined possible structures for the two nations to establish a cross-Tasman body to oversee digital invoices across both countries.

The paper support plans for the establishment of an industry-led, not-for-profit body to oversee e-invoicing across both nations.

This organisation would include a board of directors appointed by industry groups and governments to help drive the adoption of digital invoicing.

Officials claim the two nations could save $30 billion over 10 years by governments and businesses adopting the e-invoicing system.