What is e-invoicing or EIPP?
It is worth understanding what EIPP (or e-invoicing) means if you are thinking of stream-lining your Accounts Payable (A/P) and/or Accounts Receivable (A/R) function(s). Unfortunately, wikipedia does not have a definition or information on EIPP or e-invoicing yet. Google search defines EIPP as follows:
EIPP is an American term now used in UK and stands for Electronic Invoice Presentment and Payment. Its definition includes three functions; an electronic invoice (sending an invoice electronically from A/R system), presentment of the sent invoice (on line and/or on the recipient's A/P system) and a facility for handling payment for the approved invoice. Modern EIPP solutions use internet technologies to achieve these three functions cost effectively.
On the other hand e-invoicing means sending an invoice electronically. This could be through a number of mediums (e.g. via e-mail). Most accounts and ERP systems can easily achieve this functionality without using a third party provider, e.g. Sage's Transaction E-mail.