The use of software, artificial intelligence, and connected data feeds to perform routine bookkeeping, reconciliation, and reporting tasks with little-to-no human touch, freeing finance teams to focus on analysis and strategy.

A chronological, tamper-evident record of every action taken on a system, document, or transaction—capturing who did what, when, and from where—so organisations can prove compliance, investigate issues, and improve processes.

A structured series of steps—often automated—through which a request, document, or transaction is reviewed, validated, and either authorised or rejected, ensuring that organisational policies, budgets, and compliance requirements are met before action is taken.

A predefined sequence of reviewers who must sign off on a request, document, or transaction—ensuring that the right eyes see it, policy checks are applied, and accountability is captured before the request is finalised.

The systematic handling of incoming supplier bills—from capture and coding through approval, payment scheduling, and ledger posting—so every obligation is paid accurately, on time, and with full audit traceability.

The end-to-end oversight of creating, issuing, tracking, amending, and closing purchase orders (POs) so every buy is correctly authorised, delivered, and recorded in the books.

A formal document that an organization sends to one or more suppliers asking them to price-out specific goods or services—so the buyer can compare apples-to-apples offers before issuing a purchase order.

The end-to-end capture, validation, approval, and posting of supplier invoices by software—replacing manual data entry, email routing, and paper filing with OCR, AI-driven match rules, and straight-through ERP integration.

A comprehensive, end-to-end process that spans sourcing a supplier, raising a purchase order, receiving goods or services, matching the supplier’s invoice, and paying it—creating one auditable chain from initial demand to cash leaving the bank.

A unified workflow that captures a purchase request (“intake”), routes it for policy checks and approvals, and converts the approved request into a purchase order—so every buy starts with clear demand, not maverick spending.

Software-driven creation, formatting, and delivery of customer invoices—triggered by events such as a shipped order, metered usage, or subscription renewal—without manual data entry.

A systematic practice of monitoring actual spending against planned budgets, analysing variances, and taking corrective actions so that an organisation stays on course financially.

A defined segment of an organization—such as a department, team, or physical location—whose expenses are tracked separately so managers can measure and control the costs of running that activity, even though the unit itself does not directly generate revenue.

A structured method of distributing a finite pool of money across projects, departments, or line items to achieve strategic goals while controlling costs.

The use of software (often powered by OCR, mobile capture, and real-time data feeds) to record business spending automatically—eliminating manual entry, reducing errors, and giving finance instant visibility into where money is going.

A step-by-step workflow that verifies, documents, and authorises payouts to employees, contractors, or customers after they have spent money on behalf of the organisation.

A documented process—manual or automated—by which a business reviews, validates, and authorizes employee-incurred costs before reimbursing them or recording them in the books.