What is meant by E-Invoice?
An E-Invoice is an electronic invoice that is created, transmitted, and processed digitally. Unlike traditional paper invoices, the exchange of E-Invoices between businesses and their customers or suppliers is entirely electronic. E-Invoices can exist in various formats, including structured data formats such as XML or standardized PDF files such as ZUGFeRD.
Typical functions of software in the "E-Invoice" area include:
- Invoice generation: Ability to create electronic invoices using structured data formats or standardized templates.
- Invoice delivery: Secure transmission of created invoices to customers or suppliers via electronic communication channels such as email, EDI, or web portals.
- Invoice reception: Receipt and processing of incoming E-Invoices from business partners, including automatic capture and integration into accounting systems.
- Validation and compliance: Verification of invoice data for completeness, accuracy, and compliance with legal and tax requirements.
- Automation of invoice workflows: Automation of processes such as capture, approval, and payment of E-Invoices to increase efficiency and reduce manual tasks.
- Invoice archiving: Secure and audit-proof electronic storage of E-Invoices in accordance with legal retention requirements.
- Integration into accounting systems: Seamless integration of E-Invoice functionality into existing accounting or ERP systems for comprehensive management of financial data.
