What is e-invoicing?
Electronic invoicing or e-invoicing as it is commonly known as is an alternative means in which suppliers and buyers can send, receive, view, manage and store invoices in an electronic format, through a cloud platform. The technology used to carry out e-invoicing has allowed organisations across the globe to improve office efficiency, streamline invoicing process and to lower costs.
Simply put it’s all about replacing your paper-based invoices with electronic ones.
- An invoice manually created within an online form through a web portal such as OnePosting.com
- Data extracted from accounting software and securely uploaded to the cloud using a web portal such as OnePosting.com
- An invoice created through EDI (electronic Data Interchange) or XML formats
Platforms that do not constitute an e-invoice
- Scanned paper invoices that are sent through an email, which are then downloaded to recipient’s accounts system using OCR technology (Optical Character Recognition)
- Faxed invoices
- Emailed PDF invoices