Order-to-Cash Solution Overview

Glossary Term Accounts payable (AP) Accounts receivable (AR) Enhanced ACH Merchant acquiring Order-to-cash (O2C) Procurement Source-to-pay (S2P) Virtual card Definition Workflows associated with providing payment for goods and services purchased from other companies. AP is a sub-set of the source-to-pay process Workflows associated with collecting payment from customers for goods and services provided. AR is a sub-set of the order-to-cash process Automated Clearing House (ACH) electronic funds-transfer system offered with additional capabilities and services that help streamline payment processing for suppliers (i.e. fully integrated remittance data) Merchant acquiring is the process in which a provider underwrites and enables merchants to accept card payments by acting as a link between merchants, issuers, and payment networks Order-to-cash is the comprehensive workflows spanning from the receipt of an order through to the cash application. AR is a subset of the order-to- cash process Procurement is the act of sourcing and obtaining goods or services for business purposes. Procurement is a part of the source-to-pay process Source-to-pay is the end-to-end process for obtaining goods and services. S2P includes, among other processes, procurement and accounts payable Virtual cards are a type of temporary and highly secure digital charge card provided to merchants to enable electronic payments corcentric 59 59

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