Purchasing & Accounts Payable Glossary

E-procurement or electronic procurement is using technology to automate the end-to-end procurement process for a company. Read More

An accounts payable aging report is a valuable tool that provides a comprehensive overview of a company’s outstanding invoices and payment obligations. Read More

Accounts payable refers to the money a company owes to its suppliers for products and services received but not yet paid for. It represents a liability on the balance sheet, signaling that the business has an obligation to settle its debts. Read More

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

Understanding Accounts Payable Turnover is crucial for several reasons. Firstly, it provides insights into a company’s payment practices and can reflect its financial health. Read More

The aging report is an essential part of the financial management system, providing valuable insights into the company's cash flow, credit management, and overall financial health. Read More

By using AP Automation, you can easily simplify tedious tasks within your organization, helping you save both time and money. Read More

APICS, now known as the Association for Supply Chain Management (ASCM), provides industry-recognized certifications that validate an individual’s expertise in supply chain and operations management. Read More

Approval Hierarchy is a structured system that outlines who within an organization has the authority to approve certain actions, in this case, procurement decisions. Read More