Invoice Management
Invoice Management is a business process and software concept focused on handling the creation, sending, tracking, and payment of invoices in an organization. It involves automating workflows for billing, accounts receivable, and financial reporting to ensure timely payments and accurate record-keeping. This typically includes features like invoice generation, approval workflows, payment processing, and integration with accounting systems.
Developers should learn about Invoice Management when building or integrating financial, e-commerce, or enterprise resource planning (ERP) systems that require automated billing and payment tracking. It's essential for applications in industries like retail, SaaS, freelancing platforms, and any business-to-business (B2B) services where invoicing is a core operational task. Understanding this concept helps in designing scalable, compliant, and user-friendly billing solutions.