Glossary

Accounts payable - Accounts payable is a file or account that contains money that a person or company owes to suppliers, but hasn't paid yet (a form of debt). When you receive an invoice you add it to the file, and then you remove it when you pay. Thus, the A/P is a form of credit that suppliers offer to their purchasers by allowing them to pay for a product or service after it has already been received.

Accounts receivable - Accounts receivable is one of a series of accounting transactions dealing with the billing of customers who owe money to a person, company or organization for goods and services that have been provided to the customer. In most business entities this is typically done by generating an invoice and mailing or electronically delivering it to the customer, who in turn must pay it within an established timeframe called credit or payment terms

Credit control - Credit control is the process of control over payments coming into and going out of the firm. It is mainly concerned with the firm's creditors (people who the firm owes money to) and the firm's debtors (people who owe money to the firm). Tight credit control is important if a firm wants to avoid cash flow problems.

e-Billing - Also known as Electronic Billing is the electronic delivery and presentation of financial statements, bills, invoices, and related information sent by a company to its customers.

e-Credit Control - Data Interconnect's complete solution to the problem of effective handling of credit control.

e-Procurement - Also known as electronic procurement, sometimes also known as supplier exchange is the business-to-business or business-to-consumer purchase and sale of supplies and services through the Internet as well as other information and networking systems, such as Electronic Data Interchange and Enterprise Resource Planning. Typically, e-procurement Web sites allow qualified and registered users to look for buyers or sellers of goods and services. Depending on the approach, buyers or sellers may specify costs or invite bids. Transactions can be initiated and completed. Ongoing purchases may qualify customers for volume discounts or special offers. E-procurement software may make it possible to automate some buying and selling. Companies participating expect to be able to control parts inventories more effectively, reduce purchasing agent overhead, and improve manufacturing cycles. E-procurement is expected to be integrated with the trend toward computerized supply chain management.

EDI - EDI can be formally defined as 'The transfer of structured data, by agreed message standards, from one computer system to another without human intervention'. Most other definitions used are variations on this theme. Despite being relatively unheralded, in this era of technologies such as XML web services, the Internet and the World Wide Web, EDI is still the data format used by the vast majority of electronic commerce transactions in the world.

FTP - File Transfer Protocol (FTP) is a network protocol used to transfer data from one computer to another through a network, such as the Internet.
FTP is a file transfer protocol for exchanging and manipulating files over any TCP-based computer network. A FTP client may connect to a FTP server to manipulate files on that server. As there are many FTP client and server programs available for different operating systems, FTP is a popular choice for exchanging files independent of the operating systems involved.

ERP System - An ERP system is a business support system that maintains in a single database the data needed for a variety of business functions such as Manufacturing, Supply Chain Management, Financials, Projects, Human Resources and Customer Relationship Management.
An ERP system is based on a common database and a modular software design. The common database can allow every department of a business to store and retrieve information in real-time. The information should be reliable, accessible, and easily shared. The modular software design should mean a business can select the modules they need, mix and match modules from different vendors, and add new modules of their own to improve business performance.

Key Performance Indicators - Key Performance Indicators (KPI) are financial and non-financial metrics used to help an organization define and measure progress toward organizational goals. KPIs can be delivered through Business Intelligence techniques to assess the present state of the business and to assist in prescribing a course of action. The act of monitoring KPIs in real-time is known as business activity monitoring (BAM). KPIs are frequently used to "value" difficult to measure activities such as the benefits of leadership development, engagement, service, and satisfaction. KPIs are typically tied to an organization's strategy

PDF - Portable Document Format (PDF) is a file format created by Adobe Systems in 1993 for document exchange. PDF is used for representing two-dimensional documents in a manner independent of the application software, hardware, and operating system

ROI - In finance, rate of return (ROR) or return on investment (ROI), or sometimes just return, is the ratio of money gained or lost on an investment relative to the amount of money invested. The amount of money gained or lost may be referred to as interest, profit/loss, gain/loss, or net income/loss. The money invested may be referred to as the asset, capital, principal, or the cost basis of the investment.

SMTP - Simple Mail Transfer Protocol (SMTP) is the de facto standard for electronic mail (e-mail) transmissions across the Internet.

Web Portal - A web portal is a site that provides a single function via a web page or site. Web portals often function as a point of access to information on the World Wide Web. Portals present information from diverse sources in a unified way. Portals provide a way for enterprises to provide a consistent look and feel with access control and procedures for multiple applications, which otherwise would have been different entities altogether

XML - The Extensible Markup Language (XML) is a general-purpose specification for creating custom markup languages. It is classified as an extensible language because it allows its users to define their own elements. Its primary purpose is to help information systems share structured data, particularly via the Internet, and it is used both to encode documents and to serialize data

e-Credit Control

e-credit control has been developed to underpin your strategic and proactive approach to reducing DSO and the risk of bad debt. Structured chase paths, dispute management and automation ensure your credit control team spend their time as effectively as possible. The results are faster payment, better customer relations and lower costs.

e-Billing

Our comprehensive electronic invoicing service WebSend will reduce your costs significantly, improve customer satisfaction and speed up your cash flow. Click here to find out why our approach is different.

e-Procurement

A fully managed and hosted solution for all aspects of integration with your suppliers. e-procurement includes invoice authorisation workflow, document tracking, electronic purchase orders and remittance advices.

e-xchange

Enterprise strength hosted and managed web portals for your account customers to order product and services, manage their account and make payment.

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