Glossary
Glossary
- Factoring
- Financial Supply Chain
- FinTech
- Format conversion or transformation
- Format or File Format
- Four Corner Model
- FTP
Factoring
Last modified on: 31/08/2022 22:05is a form of receivables finance or purchase, in which sellers of goods and services sell their receivables (represented by outstanding invoices) at a discount to a finance provider (commonly known as the ‘factor’). A key differentiator of factoring is that usually the finance provider becomes responsible for managing the debtor portfolio and collecting the payment of the underlying receivables.
Financial Supply Chain
Last modified on: 31/08/2022 22:05is the chain of financial processes, risk and liquidity management decisions, events and activities that provide financial support to the physical supply chain.
FinTech
Last modified on: 31/08/2022 22:05is the use of digital innovation and technology-enabled business model innovations in the financial sector (by existing and new players). It aims to increase customer benefits in terms of usability, efficiency, transparency and automation. FinTech is also commonly used to describe a new player in the market offering innovative financial services, designed in part to disrupt traditional approaches. The term has many different interpretations and is evolving.
Format conversion or transformation
Last modified on: 31/08/2022 22:06in e-invoicing is the process by which a structured e-invoice is converted from one technical representation or syntax to another, while not altering its business or semantic content. It may also refer to the conversion of a structured e-invoice into a human readable presentation such as a PDF, and vice-versa.
Format or File Format
Last modified on: 31/08/2022 22:06is a standard way that information is technically represented or encoded in a computer file. File formats may be either proprietary or free and may be either unpublished or open. In e-invoicing a format will present information at both a semantic and syntactical level.
Four Corner Model
Last modified on: 31/08/2022 22:06is a model for interoperability in which the seller and buyer are not using the same service provider. The service providers or a party providing a ‘self-service’, in turn inter-operate with each other, either based on bilateral agreements, or as part of a multilateral network.
FTP
Last modified on: 31/08/2022 22:06refers to the File Transfer Protocol, a standard network protocol used to transfer computer files from one host to another host over the Internet. FTP is built on a client-server architecture and uses separate control and data connections between the client and the server.