There are currently 17 Glossaries in this directory
Accounts Payable (AP)
E-procurement or electronic procurement is using technology to automate the end-to-end procurement process for a company. Read More
Accounts Payable Management
Accounts payable is a crucial part of your business process. It helps any business stay organized and efficient when paying for your vendors on time.Read More
Centralized Procurement
Centralized procurement is the process of centrally managing the purchasing for distributed locations. In a centralized procurement model, there is one procurement team for all locations. Read More
Cost Savings
Cost savings refers to the amount a company saves due to higher efficiency or better purchasing costs. The finance team always measures cost savings as a reduction in the set budget. If the cost reduction doesn’t impact the budget, it can’t be considered cost savings. Read More
E-Invoicing
E-invoicing or electronic invoice is the process of digitizing the supplier invoicing process. Read More
E-Procurement
E-procurement or electronic procurement is using technology to automate the end-to-end procurement process for a company. Read More
Indirect Procurement
Companies that manage Indirect procurement well save anywhere between 5-8% of their manual Spend. Read More
Inventory Management
Inventory management is the process of ordering, tracking, and managing disbursements of the items for which a company manages stock. Read More
Order Acknowledgement
An order acknowledgment is a confirmation by the vendor that they have received the buyer’s purchase order. Read More
Payment Terms
Payment terms are a critical element in your organization to help you establish trust and clarify expectations between your customers and vendors. Without clear payment terms, you risk your business from experiencing late payments or worse, unpaid invoices. Read More
Procure to Pay
Procure to pay is the end-to-end process a company follows to purchase, receive and pay the vendor for the products and services. Read More
Purchase Order Requisition
A purchase order requisition is a document an employee uses to request a purchase, product, or service. Read More
Purchasing
Purchasing is the activity of procuring products or services by a buyer from a supplier. The simplest example of purchasing is the day-to-day purchasing done by a company. For example, you are purchasing a laptop from CDW or Amazon.com. Read More
Request For Quotation (RFQ)
A Request for Quotation or quote is the process of requesting a vendor to quote the price for a product or service that you are looking to purchase. Read More
Three-Way Match
A three-way match is a process of matching three documents to ensure that you pay an invoice that matches what you ordered. Read More
Two-Way Match
A two-way match is a process of matching the invoice with the purchase order to ensure the invoice is ready for payment. Read More
Vendor Management
Vendor Management is an essential element in maintaining and growing customer loyalty while minimizing any risks and costs associated with managing vendors. Vendor Management also serves as an effective way to ensure that your business gets the best services while securing low costs and maintaining good relationships with your vendors. Read More