M

machine learning

A subset of AI that enables machines to learn from data without being explicitly programmed.

ML

machine translation

An automated linguistic process that uses machine learning to convert text into multiple languages for global accessibility.

macro

A sequence of actions associated with apps using events to perform functions like data updates.

malus

A monetary penalty added to a supplier's bid cost during evaluation to account for negative factors or risks.

managed service provider

A third-party partner responsible for managing the contingent workforce program.

MSP

management hierarchy

The organizational structure defining reporting lines, used to route documents for approval to a user's manager.

manual entry

The process where an AP user types invoice data directly into the system, often required when extraction fails or for unsupported languages.

manual fulfillment

A process where a manager reviews approved internal orders to determine how to distribute available stock before creating pick lists.

mapping

The process of matching fields from one system to the corresponding fields in another to ensure information moves accurately between them.

mapping backlog

A queue of invoices waiting for the engineering team to review and create new data extraction templates.

margin scheme

A method of calculating VAT based on the difference between the selling price and the purchase price of goods, rather than the full sales value.

markup

The percentage amount added to a pay rate to calculate the bill rate.

master agreement

A parent contract type used to agree on general terms and conditions for future transactions.

master data

The core data that is essential to operations, such as supplier lists, item catalogs, and user profiles.

master item

A record containing shared information about an item that is not specific to a single supplier.

match reference key

An internal field used to link invoice lines to receipts in a 3-way direct match scenario.

matching

A service encompassing the sending of confirmations to banks, receiving confirmations, and reconciling existing deals with those confirmations.

material change

A modification to a purchase order that meets specific business requirements to be flagged as significant.

maximum spend

A threshold value entered to follow spend trends or trigger alerts when the limit is approached.

mean absolute deviation

A metric for measuring forecast error that calculates the average absolute difference between the forecasted values and the actual observed values.

MAD

mean absolute percentage error

A measure of prediction accuracy of a forecasting method in statistics, expressing accuracy as a percentage.

MAPE

measure

A field in an explore that represents measurable information about your data, for example, sums or counts.

merchant

A business entity that sells goods or services directly to customers.

merge

The process of combining two or more distinct entities, datasets, or records into a single, unified whole.

merge request

A formal submission by an administrator to combine multiple related or duplicate supplier accounts into a single primary account to centralize company information, user access, and transactions.

metadata

The data that provides information about other data.

microdeposit

A small test transaction used to verify the validity and ownership of a bank account.

mileage

The distance traveled for work-related purposes and the subsequent reimbursement or tax deduction associated with that travel.

minimum discount days

The fewest number of days prior to the invoice due date that the company is willing to accept for a discount offer.

minimum order quantity

The lowest allowable quantity that can be requested in a single order.

MOQ

minimum spend

A value stipulated in the agreement to monitor compliance over the contract period.

mirror cash flow

The practice of replicating financial transactions across different sets of books to ensure internal accounts stay in balance.

miscellaneous charges order

A form of credit resulting from residual value on a ticket, such as when a flight is exchanged for a lower fare.

MCO

missed savings

The potential discount value lost due to factors such as rejected offers, cash constraints, or processing delays.

missing receipt

A flag or tag displayed on an expense line when a required receipt attachment has not been provided.

mixed integer linear programming

An extension of linear programming that allows some decision variables to be constrained to integer values.

MILP

mobile application management

A security approach that controls specific applications on a device rather than managing the entire device.

MAM

mobile device management

A security approach that controls the entire mobile device to enforce policies and configurations.

MDM

mobile wallet

A digital repository that captures and stores expense receipts for subsequent attachment to financial reports.

mode switching

A prescription type suggesting a change in transportation mode to reduce costs.

model

A mathematical representation of a real-world process, system, or dataset that is created using algorithms and trained on data.

most frequently ordered items

A classification for inventory items with the highest volume of stock orders, often prioritized for accessibility.

moving average invoice amount

An inventory valuation method where the item price is calculated based on the average cost derived from received invoices.

MAIA

moving average purchase price

An inventory valuation method where the item price is updated to the average purchase price of all items currently in stock.

MAPP

MT940

A standardized end-of-day account statement format compliant with SWIFT standards.

multi-party services spend management

The process of issuing separate purchase orders for different billing parties.

multi-stop estimation

A costing method that approximates the expense of routes involving multiple pickups or drop-offs without performing full vehicle routing optimization.

multi-valued variable

A variable designed to hold more than one value, often used for lists or multiple selections.

MVV

multifactor authentication

A security framework that mandates a second verification method for suppliers to access the system.

MFA

multimodal language model

An AI model that can simultaneously process, understand, and generate content across multiple modalities, such as text, images, and audio.

MLM

multiselect tool

A canvas tool that allows users to select and move multiple components at once by dragging a box over them.

mutual TLS

A security framework for cXML purchase order delivery where both the client and server exchange certificates to authenticate each other.

mTLS

My Work

A homepage widget that aggregates a user's recent activity, pending approvals, and to-do items into a single, filtered view.