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AP Glossary

Automating your organization’s workflow is a complicated process that can sometimes feel like it comes with a language all its own. That’s why we’ve compiled this in-depth glossary of some key terms related to the processes, roles, tools, and services MHC provides. Read on to learn more about how we do the things we do!

Accounts payable glossary

Find out what Days Payable Outstanding (DPO) is, how to calculate it, what a high DPO means for business, and how keeping track if it benefits your business.

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Find out what Invoice data capture is, what the challenges of manual invoice data capture are, and what benefits your company gains by adopting an automated data capture system.

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Learn all about touchless invoice processing, the risks associated with manual processing, and the many advantages of moving your business to an automated invoice processing solution.

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Learn about source-to-pay procurement, how it differs from procure-to-pay and how your company benefits from using an automated source-to-pay system.

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Find out all about digital invoicing, the difference between a digital invoice and an electronic invoice, and discover the benefits of using digital invoicing software.

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Learn what an e-invoice is (and also what isn’t an e-invoice) and the important areas where moving to an e-invoice system can have an especially big impact.

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Find out all about remote invoice approval – what it is, what the process looks like, and the benefits your company reaps by using an invoice automation solution.

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Find out all about invoice matching – what it is, the different levels of matching, and deviations, as well as the main benefits you reap by using invoice matching.

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Learn all about ERP invoice processing – what it is, how it works, the risks of manual invoice processing, and the benefits of automated ERP invoice processing.

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