What is E-Invoice?

E-invoicing, or electronic invoicing, refers to the exchange of invoice documents between suppliers and buyers in an integrated electronic format. It automates invoice processing, reducing manual effort, errors, and costs compared to traditional paper-based invoicing. E-invoices are typically transmitted in a structured data format (e.g., XML, EDI) that allows for automated data extraction and validation by the recipient's system. It is commonly used to streamline accounts payable and receivable processes, improve efficiency, and enhance compliance.