what is e invoice

Electronic invoicing, or e-invoicing, is a form of electronic billing where invoices are issued, received, and processed electronically between a supplier and a buyer. E-invoicing includes a number of different technologies and entry options, and is usually used as an umbrella term to describe any method by which structured invoice data is issued in electronic data interchange (EDI) or XML formats, possibly using internet-based web forms. E-invoices can be exchanged in a number of ways including EDI, XML, or CSV files, and can be uploaded using emails, virtual printers, web applications, or FTP sites. The company may use imaging software to capture data from PDF or paper invoices and input it into their invoicing system. E-invoicing can help streamline and automate portions of the accounts payable process, reducing errors, speeding up approvals, and improving cash flow for suppliers with more timely payment.