Electronic invoicing is the exchange of electronic invoice documents between a supplier and a buyer, typically related to value-added tax (VAT) or sales tax regimes. The parties involved include the supplier, buyer, tax authorities, and intermediaries who facilitate e-invoicing processes. The main aim is to automate and streamline the invoicing process, leading to efficiency, cost savings, improved accuracy, faster payment cycles, compliance, auditability, and reduced environmental impact. E-invoicing is a pivotal tool as businesses embrace digital technologies.
Source Fintedu
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