New Invoice Standard

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Intro Video

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About the Standard

The E-invoice Exchange Framework, promoted by the Federal Reserve and the Business Payments Coalition, represents a significant step forward in modernizing business-to-business (B2B) payments in the United States.

This new standard aims to create a virtual, interoperable network that allows businesses to send and receive electronic invoices (e-invoices) and payment remittance information seamlessly.

By establishing a common set of standards, policies, and guidelines, the E-invoice Exchange Framework ensures compatibility across different platforms and systems, much like how email networks operate. Businesses can connect to an access point (service provider) that handles the transformation and delivery of invoice data, enabling streamlined and automated processing.

This initiative addresses key inefficiencies in the current invoicing system, reducing manual processing, minimizing errors, and speeding up payment cycles, thereby enhancing overall cash flow management and operational efficiency.