--- title: Glossary url: https://www.medius.com/glossary/ updated: 2026-05-22T21:13:33Z --- # Accounts payable and spend management terminology explained. We get it, spend management and finance are full of buzzwords and terms that are just plain confusing. In our glossary, we break down spend management language into digestible chunks, so you can understand what means what. Click on a topic for in-depth information and resources. - A - B - C - D - E - F - G - H - I - J - K - L - M - N - O - P - Q - R - S - T - U - V - W - X - Y - Z A * * * ### [Accounts payable](https://www.medius.com/glossary/what-is-accounts-payable/ "What is Accounts Payable?") Accounts payable (AP) represents the amount a company owes to its vendors and supplies for goods that have not been paid for, recorded as a liability on the company's financial statement. [Learn more about accounts payable >](https://www.medius.com/glossary/what-is-accounts-payable/ "What is Accounts Payable?") ### [Accounts payable automation (AP automation)](https://www.medius.com/glossary/what-is-accounts-payable-automation/ "What is Accounts Payable Automation?") Accounts payable automation (AP automation) refers to the utilization of software tools to streamline and enhance routine vendor invoice activities. [Learn more about accounts payable automation >](https://www.medius.com/glossary/what-is-accounts-payable-automation/ "What is Accounts Payable Automation?") ### [Accounts payable fraud](https://www.medius.com/glossary/what-is-accounts-payable-fraud/ "What is Accounts Payable Fraud?") Accounts payable fraud is dishonest and illegal actions that steal funds from your business’s payment system. [Learn more about accounts payable fraud >](https://www.medius.com/glossary/what-is-accounts-payable-fraud/ "What is Accounts Payable Fraud?") ### [Agentic AI](https://www.medius.com/glossary/what-is-agentic-ai/ "What is Agentic AI?") Agentic AI refers to artificial intelligence systems that can make decisions and take actions autonomously, without human input or oversight. It learns and acts based on predefined goals, rules, or learned behavior. [Learn more about Agentic AI >](https://www.medius.com/glossary/what-is-agentic-ai/ "What is Agentic AI?") ### [AI expense management](https://www.medius.com/glossary/what-is-ai-expense-management/ "What is AI Expense Management?") Artificial intelligence (AI) expense management uses AI-powered technology to automate and streamline the expense management process. [Learn more about AI expense management >](https://www.medius.com/glossary/what-is-ai-expense-management/ "What is AI Expense Management?") ### [AI in AP automation](https://www.medius.com/glossary/what-is-accounts-payable-automation/#ai-ap-automation "What is Accounts Payable Automation?") AI in AP automation uses artificial intelligence and machine learning to make the accounts payable process faster, smoother, and more efficient. [Learn more about AI in AP automation >](https://www.medius.com/glossary/what-is-accounts-payable-automation/#ai-ap-automation "AI in AP automation") ### [AI invoice automation](https://www.medius.com/glossary/what-is-invoice-processing/#ai-invoice-automation "What is invoice processing?") AI invoice automation uses artificial intelligence to streamline the entire invoice lifecycle — from data extraction and coding to fraud detection, approval workflows, and supplier communications. [Learn more about AI invoice automation >](https://www.medius.com/glossary/what-is-invoice-processing/#ai-invoice-automation "What is invoice processing?") ### [Automated invoice processing](https://www.medius.com/glossary/automated-invoice-processing-guide/ "Automated invoice processing guide") Artificial intelligence (AI) powered automation takes care of tasks like data extraction, validation, and entry, improving accuracy, speeding up processing times, and empowering you with tighter financial control. [Learn more about automated invoice processing >](https://www.medius.com/glossary/automated-invoice-processing-guide/ "Automated invoice processing guide") ### [Automated payment system](https://www.medius.com/glossary/what-is-an-automated-payment-system/ "What is an Automated Payment System?") An automated payment system allows a business to pay invoices electronically instead of through paper checks. [Learn more about automated payments systems >](https://www.medius.com/glossary/what-is-an-automated-payment-system/ "What is an Automated Payment System?") ### [Autonomous Accounts Payable](https://www.medius.com/glossary/what-is-autonomous-accounts-payable/ "What is Autonomous Accounts Payable?") Autonomous accounts payable goes beyond automating tasks. It eliminates the need for manual intervention for a self-sufficient end-to-end AP process. [Learn more about autonomous accounts payable >](https://www.medius.com/glossary/what-is-autonomous-accounts-payable/ "What is Autonomous Accounts Payable?") B * * * ### [B2B cross border payments](https://www.medius.com/glossary/what-are-b2b-cross-border-payments/ "What are B2B Cross Border Payments?") Cross border payments are payments made internationally. These cross border transactions have become increasingly common over the years due to the globalization of the market. [Learn more about B2B cross border payments >](https://www.medius.com/glossary/what-are-b2b-cross-border-payments/ "What are B2B Cross Border Payments?") ### [Batch payment processing](https://www.medius.com/glossary/what-is-batch-payment-processing/ "What is Batch Payment Processing?") A batch payment is a grouping of payments that are paid out from the same bank account. [Learn more about batch payment processing >](https://www.medius.com/glossary/what-is-batch-payment-processing/ "What is Batch Payment Processing?") ### [Build business case for AP automation](https://www.medius.com/glossary/what-is-a-business-case-for-ap-automation/ "What is a business case for AP automation?") A business case for AP automation is an internal project that collects all the information needed to evaluate the costs and benefits of automating accounts payable processes. [Learn more about building a business case for AP automation >](https://www.medius.com/glossary/what-is-a-business-case-for-ap-automation/ "What is a business case for AP automation?") ### [Business-to-business (B2B) payments](https://www.medius.com/glossary/what-is-an-automated-payment-system/#b2b-payments "What are B2B payments?") B2B payments are financial transactions made between two businesses for goods or services, and are often in need of optimization in order to improve effective cash flow management and vendor relationships. [Learn more about business-to-business (B2B) payments >](https://www.medius.com/glossary/what-is-an-automated-payment-system/#b2b-payments "What are B2B payments?") C * * * ### [Cash flow forecasting](https://www.medius.com/glossary/what-is-cash-flow-forecasting/ "What is cash flow forecasting?") Cash flow forecasting is the process of estimating a company’s future financial position by predicting the timing and amounts of incoming and outgoing cash. [Learn more about cash flow forecasting >](https://www.medius.com/glossary/what-is-cash-flow-forecasting/ "What is cash flow forecasting?") ### [Contract management](https://www.medius.com/glossary/what-is-contract-management/ "What is Contract Management?") Contract management is the process of managing agreements, from their creation to their execution by the chosen party and the eventual termination of the contract. [Learn more about contract management >](https://www.medius.com/glossary/what-is-contract-management/ "What is Contract Management?") D * * * ### [Days Payable Outstanding (DPO)](https://www.medius.com/glossary/what-is-days-payable-outstanding/ "What is Days Payable Outstanding?") Days Payable Outstanding (DPO) is a financial metric that measures the average number of days a company takes to pay its suppliers. [Learn more about Days Payable Outstanding (DPO) >](https://www.medius.com/glossary/what-is-days-payable-outstanding/ "What is Days Payable Outstanding?") E * * * ### [eAuctions](https://www.medius.com/glossary/what-are-e-auctions/ "What are e-auctions?") An eAuction is a transaction between sellers (the auctioneers) and bidders (suppliers in the business-to-business scenarios) in an electronic marketplace. [Learn more about eAuctions >](https://www.medius.com/glossary/what-are-e-auctions/ "What are e-auctions?") ### [e-Invoicing](https://www.medius.com/glossary/what-is-e-invoicing/ "What is e-Invoicing?") E-invoicing, also known as electronic invoicing, is a form of billing that is presented to the buyer in an electronic format via a predefined structured data exchange. [Learn more about e-invoicing >](https://www.medius.com/glossary/what-is-e-invoicing/ "What is e-Invoicing?") ### [e-Invoicing mandates](https://www.medius.com/glossary/what-are-e-invoicing-mandates/ "What are e-invoicing mandates?") An e-invoice mandate is a regulatory requirement imposed by a government or a governing body that mandates electronic invoicing systems for businesses. [Learn more about e-invoicing mandates >](https://www.medius.com/glossary/what-are-e-invoicing-mandates/ "What are e-invoicing mandates?") ### [eProcurement](https://www.medius.com/glossary/what-is-eprocurement/ "What is eProcurement?") eProcurement is an electronic procurement or supplier exchange system that allows for purchasing and selling supplies, equipment, works, and services through a web interface or other networked system instead of paper-based processes. [Learn more about eProcurement >](https://www.medius.com/glossary/what-is-eprocurement/ "What is eProcurement?") ### [eSourcing](https://www.medius.com/glossary/what-is-esourcing/ "What is eSourcing?") eSourcing uses web-based systems to collect and compare information about several suppliers to help the buyer select a preferred provider. [Learn more about eSourcing >](https://www.medius.com/glossary/what-is-esourcing/ "What is eSourcing?") ### [eTendering](https://www.medius.com/glossary/what-is-etendering/ "What is eTendering?") eTendering is part of the process of conducting procurement online, primarily to facilitate a more efficient way of sourcing suppliers. [Learn more about eTendering >](https://www.medius.com/glossary/what-is-etendering/ "What is eTendering?") ### [Expense management](https://www.medius.com/glossary/what-is-expense-management/ "What is expense management?") Expense management is a systematic process that organizations use to track, analyze, and maintain control over their employees' expenses efficiently. [Learn more about expense management >](https://www.medius.com/glossary/what-is-expense-management/ "What is expense management?") ### [Expense management software](https://www.medius.com/glossary/what-is-expense-management-software/ "What is expense management software?") Expense management software is a digital tool that empowers businesses to effortlessly track, manage, and optimize employee expenses while staying aligned with corporate policies and tax regulations. [Learn more about expense management software >](https://www.medius.com/glossary/what-is-expense-management-software/ "What is expense management software?") ### [Expense policy](https://www.medius.com/glossary/what-is-expense-management/#policy "What is expense management?") An expense policy is a set of guidelines and rules that dictate how employees can incur, report, and get reimbursed for business-related expenses. [Learn more about expense policy >](https://www.medius.com/glossary/what-is-expense-management/#policy "What is expense management?") I * * * ### [Invoice approval](https://www.medius.com/glossary/what-is-invoice-approval/ "What is Invoice Approval?") Invoice approval means reviewing and approving supplier invoices before these are posted as a cost in the ERP system and sent for payment. [Learn more about invoice approval >](https://www.medius.com/glossary/what-is-invoice-approval/ "What is Invoice Approval?") ### [Invoice fraud](https://www.medius.com/glossary/invoice-fraud-guide-to-prevention-detection/ "Invoice Fraud: Guide to Prevention & Detection") Invoice fraud is when someone sends fake bills to a company. They might also trick the business by saying a vendor's contact or payment details have changed, giving false information to cheat the company out of money. [Learn more about invoice fraud >](https://www.medius.com/glossary/invoice-fraud-guide-to-prevention-detection/ "Invoice Fraud: Guide to Prevention & Detection") ### [Invoice matching](https://www.medius.com/glossary/what-is-invoice-matching/ "What is Invoice Matching?") Invoice matching involves comparing and linking a supplier invoice with the underlying data on which the cost is based – a purchase order and goods delivery receipt (GDR), or a contract. [Learn more about invoice matching >](https://www.medius.com/glossary/what-is-invoice-matching/ "What is Invoice Matching?") ### [Invoice processing](https://www.medius.com/glossary/what-is-invoice-processing/ "What is invoice processing?") Invoice processing is the comprehensive management of vendor invoices from receipt to payment, conducted primarily by the accounts payable department. [Learn more about invoice processing >](https://www.medius.com/glossary/what-is-invoice-processing/ "What is invoice processing?") ### [Invoice scanning and data capture](https://www.medius.com/glossary/invoice-scanning-and-data-capture/ "Invoice scanning and data capture") Invoice scanning converts paper invoices into digital text using optical character recognition (OCR) software. Invoice data capture extracts key info (e.g., supplier, amount) from various formats (PDF, XML, etc.) for processing, validation, and approval in digital systems. [Learn more about invoice scanning and data capture >](https://www.medius.com/glossary/invoice-scanning-and-data-capture/ "Invoice scanning and data capture") ### [Invoice-to-Pay process](https://www.medius.com/glossary/invoice-to-pay-process/ "Invoice to Pay Process") The invoice-to-pay process includes receiving, verifying and processing invoices to ensure timely delivery of goods and services and prompt payments. [Learn more about the invoice-to-pay process >](https://www.medius.com/glossary/invoice-to-pay-process/ "Invoice to Pay Process") M * * * ### [Multi-currency payment processing](https://www.medius.com/glossary/what-is-multi-currency-payment-processing/ "What is Multi-Currency Payment Processing?") Multi-currency payment processing is the processing of payments in different currencies. The economy continues to globalize, and supply chains grow ever more complex. [Learn more about multi-currency payment processing >](https://www.medius.com/glossary/what-is-multi-currency-payment-processing/ "What is Multi-Currency Payment Processing?") P * * * ### [Partner Dematerialisation Platform (PDP)](https://www.medius.com/glossary/partner-dematerialisation-platform/ "Partner Dematerialisation Platform") A Partner Dematerialisation Platform (PDP) is a government-certified third-party service provider that can manage electronic invoicing between businesses and government systems. [Learn more about Partner Dematerialisation Platform (PDP) >](https://www.medius.com/glossary/partner-dematerialisation-platform/ "Partner Dematerialisation Platform") ### [Payment times reporting](https://www.medius.com/glossary/what-is-payment-times-reporting/ "What are payment times reporting laws?") The Payment Times Reporting Scheme is an Australian law introduced in January 2020. It mandates large businesses and certain government enterprises to publicly disclose their payment terms and times for small business suppliers. [Learn more about payment times reporting >](https://www.medius.com/glossary/what-is-payment-times-reporting/ "What is payment times reporting?") S * * * ### [Spend management](https://www.medius.com/glossary/spend-management/ "procurement FAQs") Spend Management is a procurement function within an organization, and it involves managing how an organization spends money to most cost-effectively obtain the desired products and services. [Learn more about spend management >](https://www.medius.com/glossary/spend-management/ "Spend Management") ### [Spend visibility](https://www.medius.com/glossary/what-is-spend-visibility/ "What is spend visibility?") Spend visibility refers to an organization’s ability to track, analyze, and understand where money is being spent across suppliers, departments, and business entities. [Learn more about spend visibility >](https://www.medius.com/glossary/what-is-spend-visibility/ "What is spend visibility?") ### [Strategic sourcing](https://www.medius.com/glossary/what-is-strategic-sourcing/ "What is Strategic Sourcing?") Strategic procurement is a company-wide procedure that ensures the timely delivery of goods and services following the company's business objectives while decreasing supply chain risk and cost. [Learn more about strategic sourcing >](https://www.medius.com/glossary/what-is-strategic-sourcing/ "What is Strategic Sourcing?") ### [Supplier information management (SIM)](https://www.medius.com/glossary/supplier-information-management/ "supplier information management") Supplier information management (SIM) refers to a business's system capturing, storing, updating, and analyzing all supplier data in a single location. [Learn more about supplier information management >](https://www.medius.com/glossary/supplier-information-management/ "supplier information management") ### [Supplier management](https://www.medius.com/glossary/what-is-supplier-management/ "What is Supplier Management?") Supplier management is the process that ensures maximum value is received for the money that an organization pays to its suppliers. [Learn more about supplier management >](https://www.medius.com/glossary/what-is-supplier-management/ "What is Supplier Management?") T * * * ### [Tail spend management](https://www.medius.com/glossary/what-is-tail-spend-management/ "What is Tail Spend Management?") Tail spend is defined as the bottom 20% of spend that accounts for 80% of suppliers. It can be effectively managed through a combination of strategic sourcing, supplier consolidation and process automation. [Learn more about tail spend management >](https://www.medius.com/glossary/what-is-tail-spend-management/ "What is Tail Spend Management?") ### [Tariffs, trade policy & AP automation](https://www.medius.com/glossary/tariffs-trade-policy-ap-automation/ "Tariffs, trade policy & AP automation") Tariffs are government taxes on imported goods and trade policy is a broader strategy for international trade. As these shift, they can disrupt accounts payable, raising costs, complicating cash flow, and obscuring landed costs within ERP and AP systems. [Learn more about tariffs and trade policies and their impact on AP >](https://www.medius.com/glossary/tariffs-trade-policy-ap-automation/ "Tariffs, trade policy & AP automation") V * * * ### [Virtual cards](https://www.medius.com/glossary/what-is-accounts-payable-automation/#digital-payment-options "What is Accounts Payable Automation?") Virtual cards are digitally generated payment card numbers linked to a funding account, offering enhanced security, control, and efficiency for various business expenses and supplier payments. [Learn more about virtual cards >](https://www.medius.com/glossary/what-is-accounts-payable-automation/#digital-payment-options "What is Accounts Payable Automation?") ## Ready to transform your AP? [Book a Demo](https://www.medius.com/book-a-demo/ "Book a Demo") [Contact Us](https://www.medius.com/contact-us/ "Contact Us")