Often a layman will consider e-invoicing the same as digital invoicing. However, both the terms and their way of working have noteworthy differences. Let's delve into the differences between digital invoicing and electronic invoicing.
Digital Invoice:
By definition, a digital invoice means a document existing in different formats such as PDF, Word, or scanned copy. Digital invoice is easy for humans to understand. Invoices sent digitally are not fully automated because of some manual intervention for processing them into accounting software. Due to humans intervening in invoice processing, the invoices are likely to have errors. Digital invoicing does not operate in real-time thus, making the process slow.
E-invoicing:
On the contrary, an electronic invoice system is entirely automatic. The invoices are automatically generated and sent to the respective buyers and suppliers. E-invoicing has structured EDI or XML formats for the operating system to comprehend. The tendency of human involvement is less likely in e-invoicing which, makes it a more reliable process. Moreover, e-invoicing works in real-time making, the process faster and saving your time, money, and effort.
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