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Electronic Invoicing Systems

oboloo Glossary

Electronic Invoicing Systems

An Electronic Invoicing System (EIS) is a digital platform which facilitates the creation, delivery, and management of invoices for goods or services. It integrates with downstream business processes such as accounts payable, general ledger, and accounts receivable. The system allows businesses to quickly and accurately generate invoices for customers, have them securely distributed and automatically reconciled, and ultimately processed for payment in an integrated workflow. An EIS also offers customizable invoice templates, real-time visibility into the status of payments, and audit trails. Furthermore, it reduces costs associated with manual processing and ensures compliance with applicable laws and regulations.

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