Invoice processing is the procedure of verifying that invoices have been received and all related information is accurate. It involves receiving, reviewing, approving and paying vendor invoices in an efficient manner. This process can help organizations to optimize the cost and performance of their business’s expenditures. By instituting a robust invoice processing system, companies can save time and money by reducing manual data entry errors and duplicate payments, increasing visibility into their accounts payable process, and maintaining control over cash flow.