Glossary · 47 terms
Buying terms, in plain English.
Short definitions of the acronyms and terms that come up when you buy business technology.
- APIApplication programming interface
- A defined way for one piece of software to request data or actions from another. A supplier’s API decides how its product can connect to your other systems.
- ATSApplicant tracking system
- Software that manages recruitment: job adverts, applications, interviews and offers.
- BIBusiness intelligence
- Tools for reporting on and analysing business data, usually through dashboards.
- BIMBuilding information modelling
- A way of creating and managing shared digital information about a building or asset across design, construction and operation.
- Buying committee
- The group of people who shape a purchase decision: the owner of the problem, the budget holder, users, IT, security, procurement and legal.
- CCaaSContact centre as a service
- Contact centre software delivered from the cloud, covering calls, chat, email and messaging.
- CDPCustomer data platform
- Software that brings customer data from different systems into single profiles that other tools can use.
- CI/CDContinuous integration and continuous delivery
- Practices and tools that automatically build, test and release software changes.
- CLMContract lifecycle management
- Software that manages contracts from drafting and approval through signature, renewal and expiry.
- CPQConfigure, price, quote
- Software that helps sales teams build accurate quotes for products with many options.
- CRMCustomer relationship management
- Software that records customers, prospects and every interaction with them, used by sales, marketing and service teams.
- Cyber Essentials
- A UK government-backed certification scheme, developed by the NCSC, covering five technical cyber security controls. Read more
- DORADigital Operational Resilience Act
- The EU regulation, applying since 17 January 2025, that sets technology risk rules for financial entities and their ICT suppliers. Read more
- DPAData processing agreement
- A contract setting out how a supplier processes personal data on your behalf, required under UK and EU data protection law.
- EDREndpoint detection and response
- Security software that monitors laptops, servers and other devices for threats and helps teams respond.
- eDiscovery
- Finding, preserving and reviewing electronic information for legal cases or investigations.
- EOREmployer of record
- A service that legally employs staff on your behalf in a country where you don’t have your own entity.
- ERPEnterprise resource planning
- A system that runs core business processes such as finance, purchasing, inventory and manufacturing in one place.
- FinOps
- The practice of managing and optimising cloud spending, shared between finance, technology and business teams.
- GRCGovernance, risk and compliance
- Software and processes for managing policies, risks, controls and audits across an organisation.
- HRISHuman resources information system
- The core system of record for employee data, often including absence, documents and reporting.
- IoTInternet of things
- Physical devices fitted with sensors and connectivity so they can send data or be controlled remotely.
- ISO/IEC 27001
- The international standard for information security management systems. Organisations can be certified against it by an accredited certification body. Read more
- ITSMIT service management
- How IT teams design, deliver and support services, and the service desk tools that support it.
- KYCKnow your customer
- Checks regulated firms carry out to verify who their customers are and assess risk.
- LMSLearning management system
- Software for delivering, tracking and reporting on training and courses.
- MDMMobile device management
- Software for securing and managing phones, tablets and laptops used for work.
- MDRManaged detection and response
- A security service where an outside team monitors your systems for threats and responds to them.
- MoSCoW
- A way of ranking requirements as Must have, Should have, Could have and Won’t have this time. Read more
- MSAMaster services agreement
- A framework contract that sets the general terms for future orders or statements of work with a supplier.
- MSPManaged service provider
- A company that runs part of your IT for you, such as support, infrastructure or security, under an ongoing contract.
- NIS2
- The EU directive setting cybersecurity and incident reporting rules for medium and large organisations in 18 sectors. Read more
- PIMProduct information management
- Software that keeps product data such as descriptions, specifications and images accurate across every sales channel.
- POCProof of concept
- A short, limited trial to test whether a product works for your specific need before committing.
- RFIRequest for information
- A document asking suppliers for general information, used to understand the market and build a longlist. Read more
- RFPRequest for proposal
- A document asking suppliers to propose how they would meet your requirements, and at what price. Read more
- RFQRequest for quotation
- A document asking suppliers for prices when the requirement is already clearly defined.
- SaaSSoftware as a service
- Software you use over the internet on a subscription, rather than installing and running yourself.
- SD-WANSoftware-defined wide area network
- A way of managing the network links between sites centrally through software, often across several types of connection.
- SECRStreamlined Energy and Carbon Reporting
- The UK rule requiring quoted companies, large unquoted companies and large LLPs to report energy use and emissions in their annual report. Read more
- SIEMSecurity information and event management
- Software that collects and analyses security logs from across your systems to spot threats.
- SLAService level agreement
- The part of a contract that sets measurable service commitments, such as availability and response times, and what happens if they’re missed.
- SOC 2
- An attestation report, defined by the AICPA, in which a licensed CPA firm reports on a service organisation’s controls. Read more
- TCOTotal cost of ownership
- The full cost of a technology over its life, including implementation, internal time, training, support, renewals and leaving. Read more
- TMSTransport management system
- Software for planning, executing and tracking the movement of goods.
- UCaaSUnified communications as a service
- Phone, video meetings and messaging delivered together from the cloud.
- WMSWarehouse management system
- Software that runs warehouse operations such as receiving, storage, picking and dispatch.