The reference layer for connected accounts payable. Plain, precise definitions of the terms behind supplier verification, payment behaviour and the accounts payable network. Written for finance teams, not for search engines.
Start with the accounts payable network →The category-defining terms. What an accounts payable network is, and the ideas that only exist once payments are connected.
A shared network where buyers and suppliers work from the same verified invoice and payment data in real time.
Core termThe connective layer holding verified identity, terms and payment history between a buyer and a supplier.
Core termBuyer and supplier see the same status for an invoice and its payment at the same time.
Core termOne jointly visible record of an invoice and its payment, in place of two copies to reconcile.
Core termEach additional verified business raises the value of the network for every other member.
Core termHow a supplier is confirmed to be who they claim, and how that confirmation is kept current rather than captured once.
Confirming a supplier is a real, correctly identified business with valid bank details, against authoritative sources.
Core termA supplier record confirmed against authoritative registers and kept current, not captured once at onboarding.
Core termShared checks and signals that let a buyer rely on a supplier's standing without repeating the work alone.
Core termConfirmation that the account details on an invoice belong to the named supplier, before payment.
VerifiedVerification as an ongoing state, rechecked as a supplier's identity and bank details change.
Core termWhat the network observes about how invoices are actually paid, and how that becomes a live signal rather than a report.
Structured data on how invoices are actually paid across a network, used as a live signal.
Core termA weighted measure of a supplier's reliability, expressed as a single score with a trend.
Core termHow a business is regarded as a payer or supplier, based on observed behaviour not self-description.
Core termThe average number of days a business takes to pay its suppliers, from invoice receipt to payment.
Comparison of a business's payment behaviour against sector or size-band peers, using network data.
Core termThe payment frauds that target accounts payable, and the UK regime that governs reimbursement.
A payer is deceived into authorising a payment to an account controlled by a fraudster.
A fraudster alters the bank details on a genuine-looking invoice to divert payment.
A criminal poses as a known supplier to redirect payment or extract account information.
The UK regime requiring payment firms to reimburse victims of APP fraud, within limits.
The regulatory backdrop UK finance teams work within, defined neutrally and pointed toward the network direction.
HMRC's programme requiring digital records and tax submission through compatible software.
Exchange of invoices as structured, machine-readable data over an agreed network, not PDFs or paper.
An open, four-corner network model for exchanging structured invoices through certified access points.
Confirmation of a company's identity and standing against the Companies House register.
VerifiedA UK code recognising businesses that pay suppliers promptly and fairly, with tiered awards.