E-Invoicing — also known as electronic invoicing — is a form of billing that encompasses the exchange of the invoice document between a supplier and a buyer in an electronic format.
These digital invoices are designed to replace their paper counterparts, providing numerous advantages that modernize and streamline the billing process, including the following:
- reduced cost
- faster processing
- reduced human errors
E-invoicing can be employed in various transactions, including between businesses (B2B), businesses and consumers (B2C), and even between individuals (P2P), contributing to its versatile applications across all sectors.