What is invoice management system in SAP SRM-EBP-INV - Invoicing?

SAP Term: invoice management system

• Component: SRM-EBP-INV

• Component Name: Invoicing

• Description: The point of access for all inbound invoices. If errors occur during posting, one or more exceptions are generated. Once all the exceptions have been released, the invoice can be posted.

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• Key Concepts: 
  An invoice management system is a component of SAP's Supplier Relationship Management (SRM) Enterprise Buyer Professional (EBP) module. It is used to manage the invoicing process between buyers and suppliers. It allows buyers to create, approve, and track invoices, as well as manage payment terms and conditions. It also provides suppliers with visibility into the status of their invoices.
  
  How to Use it: 
  The invoice management system can be used to create invoices for goods or services purchased from suppliers. The buyer can enter the details of the purchase, such as the item description, quantity, and price. The buyer can then approve the invoice and send it to the supplier for payment. The system also allows buyers to track the status of their invoices and manage payment terms and conditions.
  
  Tips & Tricks: 
  When creating an invoice, it is important to ensure that all information is accurate and up-to-date. This will help ensure that payments are made on time and that there are no discrepancies between the buyer and supplier. Additionally, buyers should take advantage of the system's tracking capabilities to stay informed about the status of their invoices.
  
  Related Information: 
  The invoice management system is part of SAP's SRM-EBP-INV module. Other components of this module include purchase order management, contract management, and supplier performance management. Additionally, SAP offers a range of other solutions for managing supplier relationships, such as supplier onboarding and supplier portal solutions.