Invoice management refers to the systematic handling and processing of invoices within an organization. It involves the receipt, verification, approval, and payment of supplier invoices. The process includes tasks such as data entry, matching invoices with purchase orders and receipts, conducting invoice validation and verification, resolving discrepancies or exceptions, obtaining necessary approvals, and facilitating timely payment.

Effective invoice management ensures accuracy, compliance, and timely processing, reducing the risk of errors, duplicate payments, and delays. It streamlines the accounts payable process, enhances financial control, strengthens supplier relationships, and contributes to efficient cash flow management within the organization.