Glossary

Automated cash application (also known as automated cash posting or automated cash matching) is a process in accounting and financial management that uses technology and algorithms to match incoming payments or cash receipts with corresponding invoices or accounts receivable entries in an organization's financial records.

An Automated Clearing House (ACH) is an electronic network that facilitates the transfer of funds between bank accounts in the United States (and internationally with some variations).

Average day(s) delinquent (ADD) is a metric that helps determine the efficiency of a company’s debt collection efforts.

B2B payments, short for Business-to-Business payments, refer to financial transactions that occur between companies. This is distinct from B2C (Business-to-Consumer) transactions where businesses sell goods or services directly to individual customers.

Bank reconciliation is the process of comparing the balance on a company's bank statement with the balance in its own accounting records (usually in a general ledger) to ensure that they match.

Bill capture, also known as invoice capture, refers to the process of extracting data from incoming bills, invoices, or purchase documents and converting it into a digital format that can be processed and managed electronically within an organization's accounting or enterprise resource planning (ERP) system.

Billing is the process of generating invoices or bills to request payment from customers or clients for goods sold or services rendered. It is a fundamental aspect of business operations that involves documenting the details of transactions, calculating charges, and issuing invoices to customers for payment.

Billing automation is the use of software to accelerate the billing process and eliminate manual workflows. This includes invoice creation, processing and delivery, payment tracking, subscription management and a variety of other tasks.

Budgeting and planning is the process of setting financial goals, creating a detailed plan to achieve those goals, and allocating resources to various activities and initiatives within an organization.

Business intelligence (BI) refers to the use of technology, tools, processes, and methodologies to analyze and transform raw data into actionable insights for making informed business decisions.