Invoice automation refers to the use of technology to streamline and accelerate the processing of invoices, from receipt to payment. This system typically involves digital capture, data extraction, approval workflows, and integration with accounting systems. Its purpose is to reduce manual effort, minimize errors, and improve the speed of financial operations.
Context
In the digital asset space, invoice automation can be significantly enhanced by blockchain technology, allowing for verifiable and tamper-proof records of transactions and payment terms. Smart contracts can automatically execute payments upon predefined conditions being met, removing intermediaries and reducing settlement times. News often highlights how these advancements can improve liquidity and operational transparency for businesses dealing with digital currency payments.
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