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Procurement glossary

Explore VendrNova procurement glossary for evidence-led enterprise procurement evaluation.

A B C D E G H I K L M N O P R S T V W

A

Accounts payable (AP)Addressable spend Advance shipping notice (ASN)Application programming interface (API)Approval workflow Audit trail Award scenario

B

Bid comparison Blanket purchase order (BPO)Budget validation Business case Buyer

C

Catalog Category management Category strategy Change order Competitive bidding Contract compliance Contract lifecycle management (CLM)Contract repository Cost avoidance Cycle time

D

Demand consolidation Direct procurement Due diligence Duplicate invoice

E

Enterprise resource planning (ERP)ERP integration ERP-additive procurement eSignature Exception handling

G

Goods receipt (GR)Guided buying

H

Human-governed AI

I

Indirect procurement Intake management Intake-to-procure (I2P)Invoice matching

K

L

M

Maverick spend Multi-round negotiation

N

Non-PO invoice Nova AI

O

Obligation tracking Operating model Optical character recognition (OCR)

P

Payment readiness PO acknowledgment Preferred supplier Procure-to-pay (P2P)Procurement Procurement automation Procurement orchestration Purchase order (PO)Purchase requisition (PR)

R

Real-time synchronization Receipt Reconciliation Request for information (RFI)Request for proposal (RFP)Request for quotation (RFQ)Reverse auction RFx Role-based access control (RBAC)

T

Tail spend Technical evaluation Three-way match Total cost of ownership (TCO)Two-way match

V

W

Workflow Working capital

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