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Invoice Management


Glossary

What is Invoice Management?

Invoice management in procurement is a pivotal internal function intricately linked to the seamless processing of invoice documents received from vendors and suppliers. This critical aspect falls under the purview of procurement teams, involving the verification, validation, and timely settlement of invoices.

Companies engage with various vendors for the acquisition of goods and services, resulting in the generation of corresponding invoices. The invoice management process entails thorough scrutiny to ensure accuracy, adherence to contractual terms, and alignment with the delivered products or services. By expediting invoice processing, minimizing manual errors, and establishing a systematic payment schedule. Timely payments to vendors contribute to a harmonious buyer-supplier relationship, fostering satisfaction and reliability.

Learn more about Ivalua's e-Invoicing & Invoice-to-Pay Solutions.

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