An invoice is a payment demand issued by a seller to the buyer of goods or services after the sale,

detailing what goods have been provided or work done, and how much must be paid in return.

Invoice processing involves the complete cycle of receiving a supplier invoice, approving it,
establishing a remittance date, paying the invoice, and then recording it in the general ledger.

The invoicing processes cover the processes of invoicing that create invoices and integrate billing
documents in FI-CA. They map the business transaction that processes the billing documents,
creates the invoice, and posts the invoice synchronously. Some of the biggest challenges of invoice
management include dealing with missing, confusing, or incorrect invoices.

It's challenging and it's time to move beyond manual invoice management and all the aspects that
slow down the business and move to an automated invoice management system.

Automated invoice management is a method of using AP automation software to capture and code
invoice data, route invoices for approval, execute and record payments, and then sync this
information back to your ERP system.

All of the challenges mentioned above build a strong case for adopting invoice management
software.

2.This can apply in areas such as: sales, finance, healthcare