What is E-invoicing?
E-invoicing, or electronic invoicing, is the process of exchanging invoices in a structured digital format between buyers and sellers. Unlike PDFs or paper invoices, e-invoices contain standardized data fields – such as invoice number, payment amount, and tax ID – that can be automatically recognized and processed by Accounts Payable (AP) systems and Enterprise Resource Planning (ERP) software.
This automation eliminates the need for manual data entry, reducing errors, costs, and processing times. For businesses, e-invoicing streamlines financial workflows and improves efficiency. For governments, it provides transparency, visibility, and greater oversight of tax compliance, since e-invoices can integrate directly with tax authorities’ systems.
By replacing paper with a structured digital process, e-invoicing benefits both organizations and regulators, ensuring faster payments, reduced administrative overhead, and improved financial accuracy. It is quickly becoming a global standard for modern financial operations.
