Electronic invoicing requires the complete removal of paper from the invoicing process. Many large corporate enterprises and many public administrations throughout the world are already realising the benefits of automating their business processes, of which electronic invoicing is an obvious and effective example. There are four good reasons for adopting electronic invoicing: 1. It is supportive of public policy priorities for economic growth, productivity, fiscal efficiency and financial transparency. 2. It makes a material contribution to cost reduction and efficiency by both buyers and suppliers 3. It provides major benefits to suppliers by facilitating prompt payment and liquidity generation 4. ‘Big bang’ IT projects are not required and transition costs are modest.

http://www.bankingtech.com/268161/the-e-invoicing-play-for-banks/