Electronic invoicing is the exchange of the invoice document between a supplier or merchant and a buyer in an integrated electronic format. The invoice data form in a structured way and can be automatically processed by system.
The traditional invoicing is heavily paper-based. It is manually intensive and is prone to human error resulting in increased costs and processing lifecycles for companies.
Through e-invoice solutions, significant cost and time savings can be achieved by removing paper and manual processing from your invoicing. Benefit of using e-invoice:
- Automated processing of invoice improves the speed of payments
- No more hassle logging to different vendor portals as standard invoice format will be apply
- Invoice financing help to increase working capital
- The visibility of payment statuses leads to efficient cash flow