Additionally, various technological advancements, such as the development of web and software-based invoicing applications that can be integrated with the cloud, artificial intelligence (AI), Internet of Things (IoT) and predictive analytics tools, are contributing to the market growth. In line with this, product vendors are also offering flexible e-invoicing solutions to support the frequently changing operational patterns. Furthermore, widespread adoption of advanced information technology (IT) solutions across the banking, financial services and insurance (BFSI), energy, telecommunications and retail industries, is also driving the market growth. Significant growth in the e-commerce industry is one of the key factors creating a positive outlook for the market. Apart from this, it aids in convenient tracking of business transactions and minimizing the costs associated with system design, customization, implementation, training and maintenance. E-invoicing can also be deployed through the cloud and on-premises solutions that offer various other benefits, such as improved invoice accuracy and data quality, reduced instances of delayed payments and faster invoice-processing time and transparency.
It is usually conducted through various smart devices, such as mobile phones, laptops and tablets, and includes purchase orders, debit and credit notes and remittance vouchers that specify the terms and conditions of the payment. Electronic invoicing, or e-invoicing, refers to the generation of electronic bills through a digital platform during an exchange of goods and services. The global e-invoicing market reached a value of US$ 6.6 Billion in 2020. Dublin, J(GLOBE NEWSWIRE) - The "E-Invoicing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to 's offering.
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