what is the important of invoicing in the business

First and foremost before i give my idea if what is really the importance of the invoicing in business let me give the definition of invoicing or invoice.

What is invoice?

Invoice is a financial tool used by many businesses that is designed to help a business afford to offer a line of credit to a customer. When a business has suffered from reoccurring slow and no pay clients/customers, invoice factoring is a way to turn the bad invoices into revenue by selling those no and slow paying invoices to a factoring company.
The factoring company purchases the financial rights of the unpaid invoices for an agreed upon price- usually a percentage on the dollar of debt. Granted, you will not receive the full debt total of invoices, but it generally pays better then going through your own means to collect on the debts. In some cases, a factoring company will pay you the agreed upon price upfront in full, putting the money straight back into your company. With other factoring companies, they may make a partial payment on the invoices and pay the rest as they collect, still at a set rate per dollar collected.

At this point, invoicing is important because through invoicing the company will supervised the amount of money that they out,
at the moment of time the employee who has the planned to manipulate or cheating.
It will serve it as a reference for future record.
one of very important benefit is that to ensures the accuracy and correctness of the billing system of an organization.
By generating invoices the process of sales and purchases become more efficient and well organized.