Invoice and Payment Processing is the management of the financial process between a supplier and customer. It involves creating invoices, tracking payments and providing payment options for customers. A successful invoice and payment processing system should provide feedback to both parties quickly and securely, streamline communication, reduce paperwork, and make it easy for customers to pay their bills on time. By implementing an effective system, businesses can ensure that invoices are paid ethically, efficiently, and on time – helping them keep their finances in order and maximizing profits.