EInvoice

An eInvoice is an electronic transaction document that contains billing information in an electronic format. An eInvoice may be processed within an electronic invoice presentment and payment (EIPP) workflow system or may be uploaded directly into a user’s ERP [ " [http://www.theaccountspayablenetwork.com/html/modules.php?name=Articles&file=article&sid=460 The Accounts Payable Network: e-Invoicing/Purchase-to-Pay."] Accessed August 25, 2008 ] or accounting system. Standard types of workflow performed on an eInvoice include verification, coding, routing and approval [ " [http://www.aberdeen.com/summary/report/research_briefs/4976-RB-einvoicing-collection-paper.asp Aberdeen Group: eInvoicing."] Published March 2008. Accessed August 25, 2008. ] By using eInvoices companies eliminate manual data entry, facilitate faster payments to their vendors and track invoices more easily [ " [http://www.allbusiness.com/accounting-reporting/accounts-receivable/304371-1.html Managing Receivables in the Digital Economy."] All Business, a Dunn & Bradstreet Company. Published October 1, 2002. Accessed August 27, 2008. ]

The process

eInvoicing provides seller’s with a method to submit invoices electronically to their customers. The most effective eInvoice programs connect the seller’s accounts receivable operations with their customer’s accounts payable operations [ " [http://www.aberdeen.com/summary/report/benchmark/RA_AP_Strategiesforsuccess_AB_VC_3714.asp Aberdeen Group: Accounts Payable Strategies for Success."] Accessed August 27, 2008. ] . In a typical scenario, the buyer purchases goods or services and the seller submits an eInvoice to the buyer's EIPP system [ " [http://www.oildex.com/press/FastCompanyDec05.html Fast Company Profile: Oildex, a service of Transzap, Inc."] Published December 2005. Accessed August 27, 2008. ] . The buyer, then, examines and verifies the accuracy of the invoice, codes and routes it for payment approval [ " [http://www.aberdeen.com/summary/report/research_briefs/4976-RB-einvoicing-collection-paper.asp Aberdeen Group: eInvoicing."] Published March 2008. Accessed August 25, 2008. ] .

eInvoicing types

EDI – Also known as Electronic Data Interchange, is an electronic transfer of data from computer to computer using an agreed structured format that can be generated and read by a computer and processed automatically [ " [http://www.abe-eba.eu/Repository.aspx?ID=54942e07-ad65-4dc4-920e-09c7cce51497 ABE EBA: E-Invoicing 2008."] Published February 2008. Accessed August 27, 2008. ]

XML - Also known as extensible mark-up language, XML is a widely accepted way of sharing information over the Internet in a way that computers can use, regardless of their operating system [ " [http://www.xml.com/pub/a/98/10/guide0.html?page=2#AEN58 O’Reilly’s XML.com: What is XML?"] Accessed August 27, 2008. ]

Webforms - Allow users to enter data that is typically sent to a web server for processing.

References