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Enterprise resource planning (ERP)

Terms related to business, including definitions about project management and words and phrases about human resources, finance and vertical industries.

PAP - REM

  • paperless office - The paperless office is an umbrella term for business practices that improve the workplace by reducing reliance on paper.
  • parallel adoption - Parallel adoption is a method of hardware or software migration that involves using the existing and new systems simultaneously until the implementation is judged to be complete and satisfactory.
  • Pardot - Pardot is a software as a service (SaaS) marketing automation platform by SalesForce offering email automation, targeted email campaigns and lead management for B2B sales and marketing organizations.
  • parent company - A parent company is a corporation that has subsidiaries, which are wholly or partially-owned separate businesses controlled by the parent.
  • Pareto chart (Pareto distribution diagram) - A Pareto chart, also called a Pareto distribution diagram, is a vertical bar graph in which values are plotted in decreasing order of relative frequency from left to right.
  • Pareto principle - The Pareto principle, also known as the 80/20 rule, is a theory maintaining that 80 percent of the output from a given situation or system is determined by 20 percent of the input.
  • Parkinson's law - Cyril Northcote Parkinson observed that "work expands so as to fill the time available for its completion" in a 1955 essay published in "The Economist" based on his experience in the British Civil Service.
  • Parkinson's law of triviality (bikeshedding) - Parkinson's law of triviality is an observation that people tend to waste a lot of time attending to unimportant details while crucial matters don't get the attention they require.
  • partner - A partner is a member in a partnership, an entity in which both the profits or losses of a business or other venture are shared between all members.
  • partner account manager (PAM) - A partner account manager is a job title within a vendor organization that uses channel partners to sell its products or services.
  • partner program - A partner program, which may also be referred to as channel partner program or alliance program, is a business strategy that vendors develop to encourage others to work with the vendor and sell its products or services.
  • partner relationship management (PRM) - Partner relationship management (PRM) is a combination of the software, processes and strategies companies use to streamline business processes with partners who sell their products.
  • partner specialization - A partner specialization is a designation achieved when a value-added reseller, integrator or solution provider has demonstrated a particular expertise specified by its vendor.
  • Passive Candidate - A passive candidate (passive job candidate) is anyone in the workforce who is not actively looking for a job.
  • paternalistic leadership - Paternalistic leadership is a managerial approach that involves a dominant authority figure who acts as a patriarch or matriarch and treats employees and partners as though they members of a large, extended family.
  • pay-as-you-grow pricing - Vendors that offer a pay-as-you-grow storage allow customers with growing environments to acquire capacity after an array has been installed through the purchase of licenses.
  • PCI DSS compliance (Payment Card Industry Data Security Standard compliance) - Payment Card Industry Data Security Standard (PCI DSS) compliance is adherence to the set of policies and procedures developed to protect credit, debit and cash card transactions and prevent the misuse of cardholders' personal information.
  • PechaKucha (pecha kucha) - PechaKucha is a presentation software format that lasts exactly six minutes and forty seconds.
  • people analytics (HR analytics) - People analytics, also known as HR analytics and talent analytics, is the use of data analysis on candidate and employee issues to understand their impact on business goals and evaluate the effectiveness of human resources initiatives.
  • percent increase - percent decrease - Percent increase and percent decrease are measures of percent change, which is the extent to which a variable gains or loses intensity, magnitude, extent, or value.
  • periodic inventory system - A periodic inventory system is a mechanism for measuring the level of inventory and the cost of goods sold (COGS) by using an occasional physical count.
  • personally identifiable information (PII) - Personally identifiable information (PII) is any data that could potentially identify a specific individual.
  • phased rollout - Phased rollout is a hardware or software migration method that involves incremental implementation of a new system.
  • PICK chart (Possible, Implement, Challenge and Kill chart) - A PICK chart (Possible, Implement, Challenge and Kill chart) is a visual tool for organizing ideas.
  • pick to light - Pick to light is order-fulfillment technology that employs alphanumeric displays and buttons at storage locations to guide the manual "picking" and recording of items for shipment.
  • pick two (pick any two) - Pick two is the principle that, for any given three desirable qualities, you are likely to only be able to achieve two out of the three.
  • pigs and chickens - Pigs and chickens is an analogy used in the Scrum software development model to define the type of role an attendee can play at a daily scrum meeting.
  • planogram - A planogram is a diagram that shows how and where specific retail products should be placed on retail shelves or displays in order to increase customer purchases.
  • platform business model - A platform business model is a plan for creating revenue by allowing registered members to create content that can be consumed by a specific user group or general audience.
  • PMO (project management office) - A project management office (PMO) is a group or department within a business, agency or enterprise that defines and maintains standards for project management within the organization.
  • poka-yoke - A poka-yoke is a mechanism that is put in place to prevent human error.
  • policy-based management - Policy-based management is an administrative approach that is used to simplify the management of a given endeavor by establishing policies to deal with situations that are likely to occur.
  • pomodoro technique - The pomodoro technique is designed to help users use their time more effectively by overcoming tendencies to procrastinate and multitask, both of which impair productivity.
  • Porter's Five Forces - Porter's Five Forces is a framework developed by economist Michael E.
  • portmanteau - A portmanteau is a word created from two other words, or parts of words, that both contribute to its meaning.
  • positioning - Positioning, in a marketing context, is the process of identifying an appropriate market niche for a product, service or brand and getting it established it in that area.
  • positioning statement - A positioning statement is an expression of how a given product, service or brand fills a particular consumer need in a way that its competitors don’t.
  • power usage effectiveness (PUE) - Power usage effectiveness (PUE) is a metric used to determine the energy efficiency of a data center.
  • Predictive Index (PI) - The Predictive Index (PI) is often used for employee profiling.
  • predictive modeling - Predictive modeling is a mathematical process used to predict future events or outcomes by analyzing patterns in a given set of input data.
  • press kit - A press kit is an information package provided for members of the media to promote events, organizations, products or candidates.
  • prime contract - A prime contract is any contract or contractual action that is awarded directly to a contractor by the U.
  • privacy plan - A privacy plan is an organizational directive that outlines how the organization will protect the personal information of its customers and clients.
  • private sector - The private sector is the part of a country's economic system that is run by individuals and companies, rather than the government.
  • privatization - Privatization is the process of transferring an enterprise or industry from the public sector to the private sector.
  • process innovation - Process innovation refers to a change in an existing operation or product that creates significant value for an organization.
  • process intelligence (business process intelligence) - Process intelligence is data that has been systematically collected to analyze the individual steps within a business process or operational workflow.
  • process manufacturing - Process manufacturing is a production method that creates goods by combining supplies, ingredients or raw materials using a formula or recipe.
  • process mining software - Process mining software is a type of programming that analyzes data in enterprise application event logs in order to learn how business processes are actually working.
  • process-centric BPM - Process-centric business process management is a holistic approach to BPM that centers on processes themselves, rather than individual  components such as  documents, workflow or people.
  • procure to pay (P2P) - Procure to pay is the process of requisitioning, purchasing, receiving, paying for and accounting for goods and services.
  • procurement card - A procurement card is a type of company charge card used in making smaller purchases for greater cost efficiency, control and convenience.
  • Producer Price Index (PPI) - The Producer Price Index (PPI) is an economic measurement of the average change in prices that domestic producers of goods receive for their products in a given country or region.
  • product as a service - Product as a service is the concept of selling the services and outcomes a product can provide rather than the product itself.
  • product lifecycle (in marketing) - The product lifecycle, in a marketing context, is all the stages of a product's life span that are related to its promotion and sales.
  • product lifecycle sustainability - Product lifecycle sustainability is an approach to managing the stages of a product’s existence so that any negative impact on the environment is minimized.
  • product owner - A product owner is a role on a Scrum team that is accountable for the project's outcome.
  • product placement - Product placement is the inclusion of a branded product in media, usually without explicit reference to the product.
  • production planning - Production planning is the act of developing a guide for the design and production of a given product or service.
  • professional services - A professional service is an intangible product that a contractor or product vendor sells to help a customer manage a specific part of their business.
  • professional services automation (PSA) - Professional services automation (PSA) is a type of software application suite that provides a service business with the functionality it needs to manage core business processes.
  • profit and loss statement (P&L) - A profit and loss statement (P&L), also known as an income statement, is a financial report that shows a company's revenues and expenses over a given period of time, usually a fiscal quarter or year.
  • profit margin - A profit margin is the difference between what it costs a business to get a product or service to market and the price it charges for it.
  • profitability analysis - Profitability analysis is a component of enterprise resource planning (ERP) that allows administrators to forecast the profitability of a proposal or optimize the profitability of an existing project.
  • programmable economy - The programmable economy is a term created by research firm Gartner Inc.
  • programmatic marketing - Programmatic marketing is best defined in two parts.
  • project charter - A project charter is a formal short document that states a project exists and provides project managers with written authority to begin work.
  • Project planning: What is it and 5 steps to create a plan - Project planning is a discipline addressing how to complete a project in a certain timeframe, usually with defined stages and designated resources.
  • project post-mortem - Project post-mortem is a process intended to inform project improvements by determining aspects that were successful or unsuccessful.
  • project scope - Project scope is the part of project planning that involves determining and documenting a list of specific project goals, deliverables, tasks, costs and deadlines.
  • proof of concept (POC) - A proof of concept (POC) is an exercise in which work is focused on determining whether an idea can be turned into a reality.
  • proprietary solution - A proprietary solution is a hardware or software product or combination of products and services that is tied to a specific vendor, to the exclusion of all other vendors.
  • Prototyping Model - The prototyping model is a systems development method in which a prototype is built, tested and then reworked as necessary until an acceptable outcome is achieved from which the complete system or product can be developed.
  • PTO (paid time off, personal time off) - Paid time off (PTO) is a human resource management (HRM) policy that provides employees with a pool of bankable hours that can be used for any purpose.
  • public relations (PR) - Public relations (PR) is the use of communications to manage public perception of an individual or an organization.
  • Public Relations Society of America (PRSA) - The Public Relations Society of America (PRSA) is the world's largest association for public relations (PR) professionals, overseeing more than 21,000 members.
  • public sector - The public sector is the segment of an economic system that is controlled by government; it contrasts with the private sector, which is run by private citizens.
  • public-private partnership (PPP) - A public-private partnership (PPP) is a funding model for public infrastructure projects and initiatives such as a new telecommunications system, public transportation system, airport or power plant.
  • pull marketing - Pull marketing is an approach designed to draw customers to a brand through search engine optimization (SEO) and other non-intrusive methods.
  • purchase intent - Purchase intent is the probability that a consumer will buy a product or service.
  • pure risk - Pure risk refers to risks that are beyond human control and result in a loss or no loss with no possibility of financial gain.
  • quality control (QC) - Quality control (QC) is a procedure or set of procedures intended to ensure that a manufactured product or performed service adheres to a defined set of quality criteria or meets the requirements of the client or customer.
  • quality function deployment - Quality function deployment (QFD) is the translation of user requirements or requests into designs.
  • Quality of Experience (QoE or QoX) - Quality of Experience (QoE or QoX) is a measure of the overall level of customer satisfaction with a vendor.
  • quant (quantitative analyst) - A quant (quantitative analyst) is a financial services professional whose qualifications also include advanced mathematics and and computer skills.
  • quiet period - A quiet period is a measure of time during which corporate insiders are restricted from disclosing information relative to the performance or prospective performance of a company before that information is made public.
  • radical innovation - Radical innovation refers to an invention that represents something new to the world.
  • rainmaker (business) - A rainmaker is an individual who generates an unusually high amount of revenue for an organization by bringing new clients and new business to the company.
  • rapid prototyping - Rapid prototyping is the speedy creation of a full-scale model.
  • Real time gross settlement (RTGS) - Real Time Gross Settlement (RTGS) is an electronic form of funds transfer where the transmission takes place on a real time basis.
  • reality check - A reality check is a second opinion, either requested or provided voluntarily, about the status of some current situation.
  • rebranding - Rebranding is an update of the materials and presentation used to represent a business.
  • recruitment - Recruitment is the process of finding, screening, hiring and eventually onboarding qualified job candidates.
  • recruitment process outsourcing (RPO) - Recruitment process outsourcing (RPO) involves an employer turning the responsibility of finding potential job candidates over to a third-party service provider.
  • red herring - A red herring is a logical fallacy in which irrelevant information is presented alongside relevant information, distracting attention from that relevant information.
  • referral partner - A referral partner is a business associate who recommends a particular company and its services in exchange for something of value.
  • release management - Release management is a software engineering process intended to oversee the development, testing, deployment and support of software releases.
  • relentless incrementalism - Relentless incrementalism is a process in which something substantial is built through the accumulation of small but incessant additions.
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